The Arizona chapter of billionaire sports team owners has a new member.
But Mat Ishbia, the mortgage company executive officially introduced on Wednesday as governor of the Phoenix Suns and Mercury, said he’ll continue to live in the Midwest.
The crowd in the lobby of the downtown arena featured the Phoenix mayor, its city manager and local player-legends.
Ishbia told them that he sees himself more as a steward of the Suns and Mercury than their owner. And he promised to spend time listening and learning about the organizations before making changes.
Ishbia is also president of a publicly traded mortgage company.
“I’m not going to physically live here. I’ve got these three wonderful children. I live in Michigan. However, I’ll be out here quite a bit,” he said.
Being the majority owner of the Suns and Mercury also lets Ishbia cash in on gambling.
Both of his teams hold state licenses to have sportsbooks, which are run through partnerships with FanDuel and Bally’s Corporation.
