PHOENIX, Ariz. (WLNS) — Former Michigan State basketball player and billionaire Mat Ishbia is reportedly going to buy the Phoenix Suns.
According to ESPN NBA Insider Adrian Wojnarowski, Isbia is finalizing a deal to buy the team from controversial owner Robert Sarver, who has been investigated for how he ran the team.
Wojnarowski reports the deal is ‘in the neighborhood of $4 billion.’
As Chris Vannini of The Athletic pointed out on Twitter, Michigan State now has three alumni who are NBA owners. Tom Gores, who owns the Pistons, Dan Gilbert, who owns the Cavaliers, and Ishbia, who will take over the Suns.
Ishbia played for Michigan State’s basketball team from 1999-2002 and was part of the national championship winning team.
Since then, he has turned United Wholesale Mortgage into a national powerhouse and the No. 1 mortgage lender in the nation, according to his bio.
In addition, the billionaire has made numerous major donations to Michigan State, including a $32 million donation the largest single cash commitment ever for the school.
He also reportedly helped fund the contract of MSU football coach Mel Tucker.