Billionaire mortgage lender Mat Ishbia - New owner of the Phoenix Suns

kennydorglas · Post #81 » by **kennydorglas** » Wed Dec 21, 2022 3:25 am

Yeahhhh
Now trade #22 and make this team great again.

Ghost of Kleine · Post #82 » by **Ghost of Kleine** » Wed Dec 21, 2022 4:53 am

Post #83 » by **bwgood77** » Wed Dec 21, 2022 6:15 am

kennydorglas wrote:Yeahhhh
Now trade #22 and make this team great again.

We were really good before #22...that's one reason we got the #1 pick, because we were so good. With him we finally started to turn things around thank God.

BobbieL · Post #84 » by **BobbieL** » Wed Dec 21, 2022 2:11 pm

bwgood77 wrote:
kennydorglas wrote:Yeahhhh
Now trade #22 and make this team great again.

We were really good before #22...that's one reason we got the #1 pick, because we were so good. With him we finally started to turn things around thank God.

I am open to trading anybody to help the team

I have yet to see one trade that I think helps the team more. Not even the Siakam deal though I might get on board with that one - if it were true

As for the owner, I hope he does a good job.

Post #85 » by **Qwigglez** » Wed Dec 21, 2022 4:27 pm

Watch on YouTube

Bogyo · Post #86 » by **Bogyo** » Wed Dec 21, 2022 5:08 pm

^^Not too bad honestly.
If I had to pick holes in it, it would be that he seemed to be trying a bit harder than usual...
Also, Jacko as dinner partner after all the neverland - childabuse things... bit of a surprise...
Other than that, here is hoping he can be number one in the NBA too, not just mortgage lending.

kennydorglas · Post #87 » by **kennydorglas** » Wed Dec 21, 2022 7:51 pm

bwgood77 wrote:
kennydorglas wrote:Yeahhhh
Now trade #22 and make this team great again.

We were really good before #22...that's one reason we got the #1 pick, because we were so good. With him we finally started to turn things around thank God.

Green font alert

Phystic · Post #88 » by **Phystic** » Thu Dec 22, 2022 2:22 am

Gambo talking about how this guy is all about winning is nice to hear. But at the same time, that's what ever current and potential owner says I guess

Post #89 » by **lilfishi22** » Thu Dec 22, 2022 4:09 am

Phystic wrote:Gambo talking about how this guy is all about winning is nice to hear. But at the same time, that's what ever current and potential owner says I guess

It's like what young prospects are taught to say in interviews during the combine.

Revived · Post #90 » by **Revived** » Fri Dec 23, 2022 3:21 am

It feels a little weird after so many years and years of wanting a new owner, we finally get it. Just about every Suns fans I’ve met in person or over the internet has unanimously wanted Sarver to sell the team for more than decade. I know a few Suns fans that stopped rooting for the team because of Sarver and I know Suns fans that have passed away who always wished to the see the Suns have a new owner and win a title before passing.

Obviously a lot of fluff pieces on the new guy now. But actions speak louder than words. Wish him the best and hope he can be a supportive owner and put together a championship team for us fans that have been rooting for this team for a very long time.

Incredible for Sarver to get $4 billion in return. Talk about a fantastic ROI, wow.

Bogyo · Post #91 » by **Bogyo** » Fri Dec 23, 2022 6:28 am

Yeah, about the ROI... Cant remember exactley how much the Suns were sold to Sarver, and how much he has to be a majority owner... like 400 mio and 35% IIRC? But I'd love to see the exact figures, so if anyone has it please do me a solid.
(But basically he takes out 10 times the money he put in I think... roughly + obviously some of the yearly profits if there were any)

Slim Charless · Post #92 » by **Slim Charless** » Fri Dec 23, 2022 7:04 am

Bogyo wrote:Yeah, about the ROI... Cant remember exactley how much the Suns were sold to Sarver, and how much he has to be a majority owner... like 400 mio and 35% IIRC? But I'd love to see the exact figures, so if anyone has it please do me a solid.
(But basically he takes out 10 times the money he put in I think... roughly + obviously some of the yearly profits if there were any)

I think Sarver profited roughly 1 billion. Someone was saying that on the ringer or ESPN podcast. I'm not sure if that's correct though

Crives · Post #93 » by **Crives** » Fri Dec 23, 2022 7:10 am

bwgood77 wrote:
phx#7 wrote:
bwgood77 wrote:Hopefully there isn't too much of his net worth in stock of his company because it has tanked pretty bad.

The entire market has tanked pretty bad.

Yeah, I know, but the real estate market will be hit especially hard with rising interest rates. Mortgage companies theoretically could earn more per mortgage though with higher interest rates, though it's usually just in line with the Fed Funds rate that they have to pay.

10% dividend doesn’t seem sustainable
Yahoo Finance though shows the company severely undervalued at the bottom left of the summary and the performance outlook on the right positive for mid term and long term.

Weird the 1 year target estimate is lower than the stock price though.

https://finance.yahoo.com/quote/UWMC?p=UWMC&.tsrc=fin-srch

Just today it dropped over 7% though which is enormous for a stock..the overall market today was actually slightly positive (outside of the tech sector)...so that drop may be concerning for them.

Ghost of Kleine · Post #94 » by **Ghost of Kleine** » Wed Dec 28, 2022 12:40 am

https://www.dailymail.co.uk/sport/nba/article-11577657/New-Phoenix-Suns-owners-donate-100k-send-nearly-7-000-underprivileged-kids-1st-NBA-game.html

$100k to send around seven THOUSAND underprivileged kids to their first NBA game as the Ishbia brothers look to make impact amid $4bn purchase

Through a donation, about 6,600 kids will watch their first Phoenix Suns game
It's part of 'Bright Side Night' - a charity event supporting underprivileged kids
That donation was made by Mat and Justin Ishbia - who have agreed to buy Suns

The prospective new owners of the NBA's Phoenix Suns are already working to ingratiate themselves with the community.

Brothers Mat and Justin Ishbia have donated $100,000 to 'Bright Side Night' - a charity event run by the SB Nation blog covering the Suns called Bright Side of the Sun.

The annual event helps to bring underprivileged children to their first ever Suns game through donations.

This is nice! Does anyone know??? Has Saver ever done anything like this or anything like it? Even at the beginning of his tenure here?

MichaelAver · Post #95 » by **MichaelAver** » Mon Jan 9, 2023 8:32 am

I wonder is he's the only owner, or he's a part of a group that bought it. As I know, his brother is a billionaire too. Maybe they put together their resources and became partners. This is what my brother and I did before purchasing our house. We still needed a mortgage, though. Based on reviews, we chose Mortgage Advice Essex. It worked out really well! We were able to compare rates from multiple lenders and ultimately ended up with a lower interest rate than what was offered through the dealership.

Post #96 » by **bwgood77** » Mon Jan 9, 2023 6:27 pm

MichaelAver wrote:I wonder is he's the only owner, or he's a part of a group that bought it. As I know, his brother is a billionaire too. Maybe they put together their resources and became partners.

He is not the only owner. As a matter of fact he barely bought over 51% of the team to get controlling interest. I am unsure how many of the previous investors, remain, if any, or if those are other guys he brought in (or a mix). His brother is part of it I believe.

Bogyo · Post #97 » by **Bogyo** » Mon Jan 9, 2023 7:47 pm

bwgood77 wrote:
MichaelAver wrote:I wonder is he's the only owner, or he's a part of a group that bought it. As I know, his brother is a billionaire too. Maybe they put together their resources and became partners.

He is not the only owner. As a matter of fact he barely bought over 51% of the team to get controlling interest. I am unsure how many of the previous investors, remain, if any, or if those are other guys he brought in (or a mix). His brother is part of it I believe.

I remembered him and his brother were over 60%... But I might be mistaken - also curious to find out what the final number will be. In my opinion the more the ownership is concentrated the better. No worries about smaller guys trying to go for yearly profits and such.

SkadeMetty · Post #98 » by **SkadeMetty** » Wed Feb 8, 2023 3:47 pm

Mulhollanddrive · Post #99 » by **Mulhollanddrive** » Thu Feb 9, 2023 8:10 am

Seems like a bit of a chaotic sensory guy, that was what was needed to go big for a top 20 player of all time but will be interesting if we see any flaws in the long term.

sunsbg · Post #100 » by **sunsbg** » Mon Jun 19, 2023 5:19 pm

Just a reminder Suns now have a charismatic, likeable and smart owner.

https://basketball.realgm.com/wiretap/271984/Suns-Believe-They-Have-Edge-To-Explode-Right-Through-Second-Luxury-Tax-Apron