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Toronto Star
· collected 2026-09-28 · by David Brandt The Associated Press
Mat Ishbia, owner of the Phoenix Suns basketball team, reassures fans that financial difficulties at his mortgage company, United Wholesale Mortgage, will not impact the team's operations or spending. Despite UWM reporting a $450 million net loss in the second quarter and employing 9,000 people, Ishbia asserts no connection between his business woes and his commitment to basketball investments, emphasizing plans to increase his ownership stake in the Suns by about 14%.
Written locally by qwen2.5:14b on 2026-09-28,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Mat Ishbia, owner of the Phoenix Suns and CEO of mortgage company United Wholesale Mortgage (UWM), stated on Monday that his company's financial struggles will have no impact on his basketball operations or spending habits. Despite UWM reporting a $450 million net loss in its second quarter this year, Ishbia remains committed to maintaining the team’s high standards. He plans to increase his ownership stake in the Suns from about 66% to roughly 80%. Ishbia emphasized that UWM's financial downturn is unrelated to the basketball business and noted that the company still employs 9,000 people and anticipates a positive outlook for the future. Ishbia’s acquisition of both the Suns and the WNBA’s Phoenix Mercury in 2022 for $4 billion has made him known as a proponent of significant investment in the teams.
Written for “Suns Owner Company Woes” on 2026-10-05,
grounded in this article and the 0 other(s) covering the same event.
It’s well-known at this point that billionaire Mat Ishbia’s mortgage company has had a rough financial stretch.
asserted
company → ’ → stretch
The owner of the Phoenix Suns said Monday that will have “zero” effect on his spending habits when it comes to basketball.
asserted
it → say → basketball
In fact, the 46-year-old said he’s working on purchasing 14% more of the team, bringing his total to roughly 80%.
asserted
he → say → %
Ishbia’s company — United Wholesale Mortgage — suffered a reported $450 million net loss in the second quarter this year, calling into question if the sizable dip would affect his basketball business.
asserted
dip → suffer → business
The outspoken Ishbia was adamant that nothing would change for the NBA franchise when it comes to spending on players or the fan experience.
asserted
it → change → players
“How does it affect the Phoenix Suns when (the mortgage company has) a bad month, or a bad quarter, or a bad year, or a bad three years?” Ishbia said.
asserted
Ishbia → affect → month
“It affects zero.
asserted
It → affect → zero
It’s got nothing to do with anything.”
asserted
It → get → anything
Ishbia added that UWM still employs 9,000 people and is in a fine position going forward.
asserted
UWM → add → position
He bought the Suns and the WNBA’s Phoenix Mercury in 2022 for $4 billion and has quickly developed a reputation for spending money.
asserted
He → buy → money
“We had a bad quarter,” Ishbia said of UWM.
asserted
Ishbia → have → UWM
“People like to create stories out of thin air and create a bunch of negativity.
asserted
People → like → negativity
When we have a great quarter this quarter I don’t think I’ll see all the articles.
asserted
I → have → articles
But anyway, it’s part of my life and part of what it is.
asserted
it → ’ → life
The mortgage company’s doing great — not that anyone really cares.”
asserted
anyone → do → ?
The Suns are coming off a 45-37 season and return most of the team, including star guard Devin Booker, forward Dillon Brooks and guard Jalen Green.
asserted
Suns → come → Booker
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