TA reporter: Suns boss may face a cash flow crisis

June 9th According to TheAthletic reporter Zach Harper, Suns boss Matt Ishbiya may have a tight cash flow.

"People don't know what money is at all," Zach Harper said in the podcast "Basketball Illuminati". "There have been rumors over the past year that Ishbiya may have tight cash flow. There are doubts about the liquidity of the joint wholesale mortgage company he runs."

Ishbiya acquired the Suns from Robert Savo in February 2023 for $4 billion. He was able to do this thanks to his company, United Wholesale Mortgage Company, founded in 1986 by his father Jeff Ishbiya. According to Bloomberg, Ishbiya pledged $4.6 billion worth of stock.

Before acquiring the Suns for a record $4 billion acquisition, Ishbiya mortgaged more than half of the issued shares of mortgage giant UWM Holdings.

Ishbiya, chairman and CEO of UWM Holdings, secured two loans with about $4.6 billion in stock he currently controls, finalized days before his acquisition of the Suns.

Ishbiya joined UWM Holdings after graduating from Michigan State University, and he succeeded his father as president and CEO in 2013, and the company has made great progress under his leadership. UWM Holdings became the largest mortgage lender in the United States in 2024, and Ishbiya was praised for her savvy.

According to Forbes, Ishbiya's net worth is $7.3 billion, so (faced with a cash flow crisis) is not a terrible situation, but a worrying situation.

US media said that people would not think that money is really a problem for Ishbiya, because the Suns' luxury tax this season is $152.2 million, the most in the NBA.

This is not the only big news about Ishbiya recently. Matt Ishbiya's younger brother Justin Ishbiya, CEO and founder of ShoreCaptial Partners, has reached a long-term investment agreement with Jerry Reinsdorf to establish a framework for his future controlling stake in the Chicago White Sox.