Published • loading... • Updated
Suns owner Mat Ishbia says mortgage company woes will have no effect on basketball
Ishbia said a $450 million UWM quarterly loss will not affect spending on players or the fan experience as he buys about 14% more of the team.
- On Monday, Phoenix Suns owner Mat Ishbia said recent losses at United Wholesale Mortgage will have "zero" effect on his basketball spending habits.
- Speculation arose after UWM reported a $450 million net loss in the second quarter this year, prompting questions about the billionaire's business stability.
- The 46-year-old Ishbia is purchasing 14% more of the team, bringing his total ownership to roughly 80%, which he originally bought for $4 billion in 2022.
- Ishbia dismissed negative media reports as unfounded, adding that UWM still employs 9,000 people and remains in a "fine position" going forward.
- The Suns are coming off a 45-37 season and return most of their roster, including star guard Devin Booker, forward Dillon Brooks, and guard Jalen Green.
Insights by Ground AI
11 Articles
11 Articles
Coverage Details
Total News Sources11
Leaning Left6Leaning Right2Center3Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 27%
R 18%
Factuality
To view factuality data please Upgrade to Premium
