Phoenix Suns becomes the most expensive franchise in NBA history after Blockbuster takeover

THE sale of the Phoenix Suns really turned the market around.

On Monday, the Suns became the first NBA team to find a new owner since the Brooklyn Nets, which were bought for $3.2 billion in 2019.

Mat Ishbia is the new owner of the Suns

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Mat Ishbia is the new owner of the Suns
The Suns have yet to win an NBA championship

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The Suns have yet to win an NBA championship

But the Suns have now overtaken Brooklyn as the most expensive franchise in the NBA.

Corresponding Shine Charaniathe sale ultimately cost billionaire mortgage lender Mat Ishbia a mere $4 billion.

Included in the deal was the WNBA’s Phoenix Mercury, per Adrian Wojnarowski.

That’s a staggering total, especially considering the Suns are only the 13th most valuable franchise in the league at $2.7 billion per Forbes.

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It’s also particularly notable since, according to Forbes, they were told the Suns would likely gross around $2.5 billion.

Regardless, former Suns owner Robert Sarver is walking away with a fat wallet, having originally bought the franchise for $401 million in 2004.

This sale could also have a major impact on the future of the league.

As Barstool Sports noted, the NBA has been open about its desire to expand into new markets in the years to come, and now after this sale, it could cost potential new owners at least $4 billion per franchise.

To put these costs in perspective, the last expansion team, the Charlotte Bobcats, cost its owners $300 million in expansion fees in 2004.

Whether it ends in Seattle or Las Vegas – somewhere NBA star LeBron James has admitted to wanting to bring a team – the next batch of owners will have to have extremely deep pockets.

Devin Booker (L) is arguably the Suns' biggest star

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Devin Booker (L) is arguably the Suns’ biggest starPhoto credit: Reuters
LeBron James (L) has been open about wanting to own an NBA team

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LeBron James (L) has been open about wanting to own an NBA teamPhoto credit: Getty

https://www.the-sun.com/sport/6968617/phoenix-suns-most-expensive-franchise-nba-history-takeover/ Phoenix Suns becomes the most expensive franchise in NBA history after Blockbuster takeover

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