Phoenix Suns and Phoenix Mercury owner Mat Ishbia is reportedly set to buy out the remaining minority shareholders, taking the Ishbia family’s ownership of both franchises to almost 99%.
United Wholesale Mortgage confirmed the move in a statement obtained by Bloomberg, bringing another major change to a Mercury franchise already dealing with plenty of off-court attention.
The buyout follows prolonged tension between Ishbia and minority shareholders over a previous capital call. If completed, the move would give the Ishbia family almost complete control of the Suns and Mercury.
Mat Ishbia’s WNBA ownership move comes amid wider league controversy
‘Mat is finalizing an agreement to buy out the remaining Suns and Mercury shareholders, bringing the Ishbia family’s total ownership to almost 99% of the teams,’ UWM said in a statement via Bloomberg.
The ownership change comes at a time when the WNBA is also facing renewed debate over transgender eligibility.
The league addressed the issue this week after a task force meeting involving team presidents and general managers. The WNBA said the discussions included transgender athletes, while stressing that there were no immediate eligibility matters affecting the league.
‘Today’s meeting covered a wide range of topics, including ongoing discussions on transgender athletes,’ the WNBA said. ‘We will continue to engage all league stakeholders in the coming weeks and months. There are no immediate eligibility matters affecting the WNBA.’
The statement followed reports involving former NBA players Enes Kanter Freedom and Royce White, who declared their intention to enter the 2027 WNBA Draft. The source says both were rejected by the league, describing their submissions as attempts to mock women’s sport.
Meanwhile, the Mercury have plenty to deal with on the basketball side too. Phoenix sits 10th at 13-22, seven games outside a playoff spot with nine games remaining, despite adding Kelsey Plum in August.
There could also be another familiar name joining the organisation in the future. Mercury legend Diana Taurasi, who retired after the 2025 season, has said she could become part of the team’s ownership group within the next one or two years.
For Ishbia, the latest buyout would further strengthen his control after his $4 billion purchase of the Suns in 2023. His wider business has also faced financial pressure, with UWM suffering a reported $603 million derivatives loss, although there is no indication that has affected the Suns’ players.
The Mercury’s ownership structure is now set for another major change, while the WNBA continues to navigate debates far beyond the basketball court.
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