New Owner - Mat Ishbia

[Yuma]

Picks aren't determined by playoff results. The #30 pick goes to the team with the best record in the league not the NBA Champion. Say Miami won it last year, they still would have had a pick in the teens because they were a play in team.

You are right, but same thing.
Suns are going to be towards the top of the standings. Not the bottom.

 

[Mainstreet]

Matt Ishbia pledges more than half of his company's stock to buy the Suns.

Thanks for taking the risk.



By Arizona Sports:

While the Bloomberg report notes executives of publicly traded companies commonly pledge shares as collateral, Ishbia tying up more than half his shares as collateral is unusual.


The risk, Bloomberg reported, is if the value of the stock declines lenders can request additional collateral and for the loan to be repaid or the lender can seize and sell the shares. UWM went public with a $16 billion valuatio

Mat Ishbia pledged half of his mortgage company stock to buy Suns

When Mat Ishbia was officially approved as the owner of the Phoenix Suns and Mercury, he made it clear he loved the game of basketball.

arizonasports.com

 

[Hoop Head]

Matt Ishbia pledges more than half of his company's stock to buy the Suns.

Thanks for taking the risk.



By Arizona Sports:

While the Bloomberg report notes executives of publicly traded companies commonly pledge shares as collateral, Ishbia tying up more than half his shares as collateral is unusual.


The risk, Bloomberg reported, is if the value of the stock declines lenders can request additional collateral and for the loan to be repaid or the lender can seize and sell the shares. UWM went public with a $16 billion valuatio

Mat Ishbia pledged half of his mortgage company stock to buy Suns

When Mat Ishbia was officially approved as the owner of the Phoenix Suns and Mercury, he made it clear he loved the game of basketball.

arizonasports.com

I don't know quite what to make of that. I mean, his desire can't be questioned, that's for certain. I just hope it doesn't become an issue down the line. It appears his pockets aren't quite as deep as we thought. Hopefully this was a one time thing to raise the capital for the purchase and won't be something that comes up again down the road if expenses are too high.

 

[Mainstreet]

I don't know quite what to make of that. I mean, his desire can't be questioned, that's for certain. I just hope it doesn't become an issue down the line. It appears his pockets aren't quite as deep as we thought. Hopefully this was a one time thing to raise the capital for the purchase and won't be something that comes up again down the road if expenses are too high.

I interpreted as a positive, an indication of how much Mat Ishbia wanted to buy the Suns.

IMO, he is a good businessman, so he should be fine.

 

[Ouchie-Z-Clown]

I don't know quite what to make of that. I mean, his desire can't be questioned, that's for certain. I just hope it doesn't become an issue down the line. It appears his pockets aren't quite as deep as we thought. Hopefully this was a one time thing to raise the capital for the purchase and won't be something that comes up again down the road if expenses are too high.

I don’t think anyone just comes outta pocket when they buy pro teams. I think the only thing that’s unusual here is the amount of leverage, not that leverage was used at all. I think this is a big nothingburger.

 

[Germz249]

Matt Ishbia pledges more than half of his company's stock to buy the Suns.

Thanks for taking the risk.



By Arizona Sports:

While the Bloomberg report notes executives of publicly traded companies commonly pledge shares as collateral, Ishbia tying up more than half his shares as collateral is unusual.


The risk, Bloomberg reported, is if the value of the stock declines lenders can request additional collateral and for the loan to be repaid or the lender can seize and sell the shares. UWM went public with a $16 billion valuatio

Mat Ishbia pledged half of his mortgage company stock to buy Suns

When Mat Ishbia was officially approved as the owner of the Phoenix Suns and Mercury, he made it clear he loved the game of basketball.

arizonasports.com

And I pledge to continue on paying my mortgage to help him help support the team.

=D

 

[Phrazbit]

I don't know quite what to make of that. I mean, his desire can't be questioned, that's for certain. I just hope it doesn't become an issue down the line. It appears his pockets aren't quite as deep as we thought. Hopefully this was a one time thing to raise the capital for the purchase and won't be something that comes up again down the road if expenses are too high.

I doubt that any of these billionaires have half their net worth in, essentially, cash. It's either their stake in their companies or in other investments.

The housing crash predicted by some a year or 2 ago does not seem to be coming to fruition, so, he, the Suns and his company should be fine.

 

[Covert Rain]

I don't know quite what to make of that. I mean, his desire can't be questioned, that's for certain. I just hope it doesn't become an issue down the line. It appears his pockets aren't quite as deep as we thought. Hopefully this was a one time thing to raise the capital for the purchase and won't be something that comes up again down the road if expenses are too high.

His pockets are the same. He is not liquid like most billionaires. We also don't know what other investments he has. We just know he staked half of his mortgage business. You either have to stake assets or liquidate them for an investment like the Suns. I would have been worried if he sold half of his assets to purchase the Suns.

 

[Yuma]

I doubt that any of these billionaires have half their net worth in, essentially, cash. It's either their stake in their companies or in other investments.

The housing crash predicted by some a year or 2 ago does not seem to be coming to fruition, so, he, the Suns and his company should be fine.

It's usually mostly on paper.

 

[Yuma]

I doubt that any of these billionaires have half their net worth in, essentially, cash. It's either their stake in their companies or in other investments.

The housing crash predicted by some a year or 2 ago does not seem to be coming to fruition, so, he, the Suns and his company should be fine.

Mark Cuban is the only one I know who sold half his company for cash. At one point he supposedly had 1 Billion in cash. At least pretax.

 

[Ronin]

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[AZ Native]

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Too bad Ishbia can't buy the DBacks.

 

[Yuma]

Too bad Ishbia can't buy the DBacks.

Who says he can't?

 

[AZ Native]

Who says he can't?

Based on some things I read it didn’t seem feasible at this time. But there are others. But the main question is “would Kendrick sell”?

 

[Covert Rain]

Based on some things I read it didn’t seem feasible at this time. But there are others. But the main question is “would Kendrick sell”?

He has the assets to leverage. I doubt Kendrick would sell and I doubt MLB would let him until the dust settles with the Suns/Mercury purchase anyway.

 

[Ronin]

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[Ouchie-Z-Clown]

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$78 billion dollars is just such a ridiculous amount of money.

 

[Hoop Head]

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Kind of crazy to see Dan Gilbert so high. Dude could have had a perennial contender if he weren't so against paying the luxury tax. Seems Cleveland is back in a similar situation, albeit less proven than before, and will likely blow it up before paying the tax for more than a year.

Mickey Arison is another name on there who has been adverse to the luxury tax. However he's only worth 1/3 of what Gilbert is.

 

[Superbone]

Kind of crazy to see Dan Gilbert so high. Dude could have had a perennial contender if he weren't so against paying the luxury tax. Seems Cleveland is back in a similar situation, albeit less proven than before, and will likely blow it up before paying the tax for more than a year.

Mickey Arison is another name on there who has been adverse to the luxury tax. However he's only worth 1/3 of what Gilbert is.

This is a positive for us. Ishbia will take great delight in outspending Gilbert as well as besting him in all things in and outside of basketball.

 

[Germz249]

Off topic but I saw a crazy thing once that Elon Musk had enough money to buy every professional football, baseball, basketball and hockey team. He could own every professional team. Just crazy..

 

[Proximo]

Off topic but I saw a crazy thing once that Elon Musk had enough money to buy every professional football, baseball, basketball and hockey team. He could own every professional team. Just crazy..

This is not actually true.

85% of his wealth is Tesla stock, and almost all the rest is SpaceX stock.

Neither could be liquidated without causing a collapse in the stock price. The net worth looks good on paper, but in reality he could only get access to a much smaller percentage of it unless the sales were spread out over long periods of time.

 

[Superbone]

This is not actually true.

85% of his wealth is Tesla stock, and almost all the rest is SpaceX stock.

Neither could be liquidated without causing a collapse in the stock price. The net worth looks good on paper, but in reality he could only get access to a much smaller percentage of it unless the sales were spread out over long periods of time.

Poor bastard!

 

[Germz249]

This is not actually true.

85% of his wealth is Tesla stock, and almost all the rest is SpaceX stock.

Neither could be liquidated without causing a collapse in the stock price. The net worth looks good on paper, but in reality he could only get access to a much smaller percentage of it unless the sales were spread out over long periods of time.

My bad.

 

[JCSunsfan]

This is not actually true.

85% of his wealth is Tesla stock, and almost all the rest is SpaceX stock.

Neither could be liquidated without causing a collapse in the stock price. The net worth looks good on paper, but in reality he could only get access to a much smaller percentage of it unless the sales were spread out over long periods of time.

This is the same as almost every billionaire. The point he was making is still true.

 

[jf-08]

This is not actually true.

85% of his wealth is Tesla stock, and almost all the rest is SpaceX stock.

Neither could be liquidated without causing a collapse in the stock price. The net worth looks good on paper, but in reality he could only get access to a much smaller percentage of it unless the sales were spread out over long periods of time.

This is why a wealth tax is totally insane as well.