Billionaire Mat Ishbia will buy the National Basketball Association's (NBA) Phoenix Suns and women's team the Phoenix Mercury for $4 billion, ESPN reported Tuesday.
The deal would set a record in the league after Joe Tsai bought the remaining stake in the Brooklyn Nets in 2019 in a deal that valued the team at $2.35 billion.
The Suns did not immediately respond to a request for comment.
Owner Robert Sarver announced plans to sell the team in September after the NBA handed him a one-year suspension following an investigation into allegations of workplace misconduct.
American Ishbia is president and CEO of United Wholesale Mortgage in Michigan.
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