Mike Dunleavy is smooooth
Owners approve sale of Suns to Mat Ishbia, deal reportedly expected to close Tuesday
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The Phoenix Suns should have a new owner by the end of the day.
The NBA’s Board of Governors (the other owners) voted 29-0 Monday to approve the Phoenix Suns and Mercury sale to an ownership group led by Mat Ishbia.
NEWS: The sale of the Suns is expected to close Tuesday, sources tell ESPN. Mat Ishbia is buying a 57% controlling stake from Robert Sarver for $2.28 billion, sources said, with Sarver selling his 37% stake for $1.48 billion. https://t.co/VqI1PHElpE
— Baxter Holmes (@Baxter) February 7, 2023
What that will mean for the Suns’ organization — in terms of spending on basketball operations and the roster, as well as the business structure of the franchise — remains to be seen. But the change should be welcomed by Suns fans who dealt with decades of the penny-pinching of Sarver.
Ishbia — a walk-on reserve guard for the Michigan State Spartans that won the national championship in 2000 under Tom Izzo — will own 57% of the team, valued at a league-record $4 billion for the sale. That sale price blows away the previous record for an NBA team of $3.3 billion (what Joe Tsai paid for the Brooklyn Nets and the Barclays Center).
Ishbia made his billions as the chairman and CEO of the nation’s largest mortgage lender, United Wholesale Mortgage, formally called UWM Holdings. Mat’s father Jeff founded the business and it has grown to be one of the largest mortgage lenders in the United States, and Ishbia is worth a reported $5.1 billion. Mat is joined by his brother Justin — also a billionaire and part-owner of UWM — as co-owner and alternate governor for the team.
With the sale going through and changes coming, Suns president and CEO Jason Rowley chose to step down and leave the team. Rowley had been linked to the toxic work environment that led to former owner Robert Sarver agreeing to sell the team. A league-sponsored investigation into Sarver and how he ran the Suns found a hostile work environment with sexual harassment rampant. NBA commissioner Adam Silver fined Sarver $10 million (the max he could do) and suspended Sarver for a year — a slap on the wrist — but pressure from sponsors and other NBA owners pushed Sarver to sell the team and step away. Don’t shed a tear for Sarver, who purchased the Suns in 2004 for a then-record $401 million, but now sold his share for an estimated $1.48 billion.
Three things to Know: Cam Thomas takes over in Brooklyn, scores 47
Three Things To Know is NBC’s five-days-a-week wrap-up of the night before in the NBA. Check out NBCSports.com every weekday morning to catch up on what you missed the night before plus the rumors, drama, and dunks that make the NBA must-watch.
1) Cam Thomas takes over Brooklyn, scores 44 for shorthanded Nets
The list of players who have scored 40+ points in back-to-back games this season reads like the top seven picks of a fantasy draft: Giannis Antetokounmpo, Devin Booker, Stephen Curry, Anthony Davis, Joel Embiid, LeBron James, and Damian Lillard.
Now add Cam Thomas to that list.
With Kevin Durant injured and Kyrie Irving now in Dallas, the Brooklyn Nets’ second-year scoring guard has taken over the offense. He scored a career-high 44 against the Wizards on Saturday night, then on Monday topped that with 47 against the Clippers, hitting 7-of-11 from 3.
Cam Thomas tonight:
47 PTS
4 REB
3 AST
7 ThreesBack-to-back 40 pieces 👀 pic.twitter.com/ei08v96rOc
— NBA (@NBA) February 7, 2023
The Nets needed this. Brooklyn has been Team Drama since Kyrie Irving didn’t get his extension and demanded a trade, which has led to a lot of speculation around the league about Kevin Durant being next out the door (sources told NBC Sports to expect that issue to be resolved over the summer, not in the tight window of the trade deadline).
Thomas has been able to score since he was drafted out of LSU, but that skill was less needed when Irving and Durant were healthy and dominating the ball. His defense, playmaking, efficiency and all-around game improved this season, but the veteran-heavy Nets had guys the coaches trusted more in his role, so Thomas racked up a lot of DNP-CDs this season.
However, when the Nets needed him, he stepped up and put on a show. He is earning his run, even when Spencer Dinwiddie and Dorian Finney-Smith show up and get on the court, and Durant gets healthy.
Thomas’ career-best night wasn’t enough against the Clippers. A late 9-0 Clippers run changed the game and Los Angeles picked up the win on the road. Paul George led the Clippers with 29 points, while Kawhi Leonard added 24.
Paul George dropped 29 PTS, 4 REB, and 3 AST tonight as the Clippers won in Brooklyn 💪 pic.twitter.com/8AzDFRYhQs
— NBA (@NBA) February 7, 2023
The Clippers went an impressive 4-2 on their Grammys road trip (the awards show takes over crypto.com Arena for a couple of weeks) and have moved up to fourth in the West as they head home, showing flashes of a team that could be coming together.
2) With Curry out, Klay Thompson steps up and drops 42
Stephen Curry will be out “weeks” with a leg injury, leaving concerns about where the stumbling Warriors will find enough offense.
The answer was Klay Thompson. At least on Monday night. He knocked down 12 3-pointers and scored 42 points leading the Warriors to a comfortable blow-out win over the Thunder.
KLAY HAS 1️⃣2️⃣ THREES pic.twitter.com/vG6WiTxTCS
— Warriors on NBCS (@NBCSWarriors) February 7, 2023
Jordan Poole Sixth Man of the Year bettors are hosed as he is back in the starting lineup with Curry out, and he impressed with 21 points with 12 assists (a career-best). This was a quality win for the Warriors as the surprising Thunder have pushed themselves into contention for a play-in spot and the Warriors need to keep their head above water until Curry returns some time after the All-Star break.
3) Sale of Suns to Mat Ishbia expected to close Tuesday
The Phoenix Suns should have a new owner by the end of the day.
The NBA’s Board of Governors — the other owners — voted to approve the sale of the Phoenix Suns and Mercury to an ownership group led by Mat Ishbia.
NEWS: The sale of the Suns is expected to close Tuesday, sources tell ESPN. Mat Ishbia is buying a 57% controlling stake from Robert Sarver for $2.28 billion, sources said, with Sarver selling his 37% stake for $1.48 billion. https://t.co/VqI1PHElpE
— Baxter Holmes (@Baxter) February 7, 2023
Ishbia — a walk-on reserve guard for the Michigan State Spartans that won the national championship in 2000 — will own 57% of the team, valued at a league-record $4 billion for the sale.
Ishbia made his billions as the chairman and CEO of the nation’s largest mortgage lender, United Wholesale Mortgage, formally called UWM Holdings. Mat’s father founded the business, which is now worth a reported $7 billion, with Ishbia himself worth a reported $5.1 billion.
This brings an end to the Robert Sarver era in Phoenix, which is reason for Suns fans to celebrate. Sarver was a penny-pinching owner who agreed to sell the team after an investigation into his running of the Suns’ franchise had led to a hostile work environment and sexual harassment claims. Don’t shed a tear for Sarver, who purchased the Suns in 2004 for a then-record $401 million and just sold his share for $1.48 billion.
Watch Klay Thompson knock down 12 3-pointers, lift Warriors to win without Curry
Stephen Curry was not in the building, the first of maybe a month of games he’s going to miss with a leg injury. Who would take charge of the Warriors’ offense with No. 30 out?
Thompson knocked down 12 3-pointers and scored 42 points to lead the Warriors as they blew past the Thunder.
KLAY HAS 1️⃣2️⃣ THREES pic.twitter.com/vG6WiTxTCS
— Warriors on NBCS (@NBCSWarriors) February 7, 2023
“It was a beautiful game to watch him play…” Draymond Green said of Thompson, via the Associated Press.”We needed it. It’s been a while since we had a blowout win. It’s good to get this one, especially first game with Steph out. It was good to start off on this foot and try to create some momentum.”
Jordan Poole is back in the starting lineup with Curry out, scoring 21 points with 12 assists (a career best).
All-Star Shai Gilgeous-Alexander led the Thunder with 20 points. But this was Thompson’s night. And one for the Warriors.
NBA owners, players union agree to push back CBA opt-out date. Again.
The NBA and players union are progressing toward a new Collective Bargaining Agreement (CBA). Just not very fast progress. In December, they pushed the opt-out date for both sides — when either the owners or players could opt out and end the CBA on June 30 of this year — to Feb. 8.
They aren’t going to hit that deadline either so the two sides have agreed to push the new opt-out date back to March 31, they announced.
“The NBA and NBPA have mutually agreed to extend the deadline to opt out of the current Collective Bargaining Agreement (CBA) from Feb. 8, 2023, to March 31, 2023, as the two sides continue negotiations to reach a new agreement,” the sides said in a joint release. “If either party exercises the opt-out, the CBA’s term will conclude on June 30, 2023.”
There is one bit of good news in the talks, the owners have backed off the “upper spending limit” idea, reports Adrian Wojnarowski of ESPN. At least some owners — troubled by the massive spending into the luxury tax of the Warriors, Clippers, and Nets — pushed for an “Upper Spending Limit” for teams, which the players saw as a hard cap and a deal breaker.
As the sides pursue an early labor deal, a significant part of what has allowed discussions to progress has been the NBA’s willingness to soften from its original push for an upper spending limit on team payrolls — a de facto hard cap, sources said.
Still, expect changes to the luxury tax system to attempt to rein in the spending of some owners. There are a lot of economic concerns that will push toward a deal getting done, including this interesting note:
There are broader economic concerns looming for the league that are motivating factors in reaching a new labor deal in the coming weeks and months — including the potential bankruptcy of the Sinclair/Diamond Sports Regional Sports Networks, which is responsible for broadcasting 16 of the league’s teams on local deals. The longer labor talks linger, the more moderate positions among ownership can harden on financial issues and risk deeper difficulties on reaching a new labor deal.
The conventional wisdom has long been there would be no lockout and potential work stoppage because every side was making money again, the trajectory of the league was good, and nobody wanted to slam the breaks on that momentum. But there is always a risk, especially if the owners are fighting among themselves. Which is why a deal getting done sooner rather than later is best for everyone — especially fans.
