Who owns the Phoenix Mercury? The answer traces back to a single 2023 deal that changed two Arizona franchises at once.
Mat Ishbia, the chairman and chief executive of United Wholesale Mortgage, is the principal owner of the Phoenix Mercury. He controls the WNBA team alongside his brother Justin Ishbia.
Ishbia did not buy the Mercury on its own. He purchased the franchise as part of a package deal that also included the NBA Phoenix Suns, worth about four billion dollars combined.
The seller was Robert Sarver, an embattled businessman forced out of the league after an independent investigation into workplace conduct.
What actually pushed Sarver out, and why did Ishbia want a WNBA team at all when he was already chasing an NBA franchise? The full story explains a lot about where the Mercury are headed next.
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Who Owns the Phoenix Mercury Right Now
As of 2026, Mat Ishbia is the governor and controlling owner of the Phoenix Mercury. He assumed the role after the NBA Board of Governors approved his purchase of the franchise on February 6, 2023.
Ishbia is best known outside basketball as the leader of United Wholesale Mortgage, one of the largest mortgage lenders in the country, which he took public in 2021. That move made him a billionaire almost overnight and gave him the capital to enter professional sports ownership.
His brother, Justin Ishbia, is an owner in the same group and holds a significant stake in both the Mercury and the Suns.
Phoenix Mercury Ownership At A Glance
| Team | Phoenix Mercury |
| Current Owner | Mat Ishbia |
| Purchase Price | About four billion dollars, combined with the Phoenix Suns, in February 2023 |
| Valuation | About 445 million dollars as of 2026 |
| Founded | 1997 |
| League | WNBA |
| Arena | Mortgage Matchup Center, formerly Footprint Center |
| Championships | Three total, in 2007, 2009, and 2014 |
How Mat Ishbia Built His Fortune Before Buying The Team
Before he owned a basketball court, Mat Ishbia played one. He was a walk on guard at Michigan State University and won a national championship with the team in 2000.
After college, he joined his family business, United Wholesale Mortgage, and eventually took over as chairman and chief executive. Under his leadership the company grew into one of the biggest mortgage lenders in America and went public in 2021.
According to Forbes data from 2026, Ishbia now has a net worth of roughly 9.1 billion dollars, a figure that has climbed sharply since he became a public company chief executive.
Inside The Ownership Structure Of The Phoenix Mercury
Owner in the same investor group
Company Ishbia leads as chief executive
Sister NBA franchise under the same owner
League body that approved the sale
The Mercury operate as a sister franchise to the Suns, sharing an arena, a practice facility, and much of the same business staff. This shared model is common across the WNBA, where most teams are tied to an NBA counterpart.
From Robert Sarver To Mat Ishbia: A Timeline Of Ownership Change
Jerry Colangelo brings the Mercury into the WNBA as one of the league original franchises.
Robert Sarver leads a group that buys the Suns and Mercury together, beginning nearly two decades of ownership.
An independent investigation finds Sarver used a racial slur and mistreated employees. He is suspended and fined by the league.
Facing pressure from sponsors, players, and fans, Sarver agrees to sell both franchises rather than serve a full suspension.
Mat Ishbia closes on a deal worth about four billion dollars for the Suns and Mercury together, becoming the new governor.
The franchise valuation climbs toward 445 million dollars as WNBA interest surges league wide.
Is Mat Ishbia A Good Owner: Is The Phoenix Mercury Ownership Really Worth It
Fans and analysts remain split on Ishbia record so far, and the honest answer sits somewhere in the middle.
On the positive side, Ishbia has spent heavily on the roster, approved a new training facility, and pushed to keep star talent in Phoenix rather than letting the team rebuild from scratch. He also removed the cloud that hung over the franchise during the Sarver era, which many players and staff publicly welcomed.
On the negative side, critics point to his hands on public style, including sideline incidents during Suns games, as a sign he can be an impulsive leader. Others question whether a mortgage executive with no prior sports management background can build sustained success rather than short term splashes.
So is the ownership worth it for Mercury fans specifically? The franchise valuation has climbed since 2023, the arena situation is stable, and the team has not faced the reputational issues that defined the final Sarver years. That alone makes the switch a clear improvement, even if playoff results are still a work in progress.
What Is The Phoenix Mercury Worth In 2026
Recent WNBA valuation rankings place the Phoenix Mercury near 445 million dollars, up sharply from about 105 million dollars just two years earlier. The jump reflects a broader boom across the league, driven by new media rights deals, expansion fees, and record attendance.
That places the Mercury behind teams such as the New York Liberty and Las Vegas Aces, but still among the more valuable franchises in the WNBA.
Championship History Under Every Phoenix Mercury Owner
The Mercury have won three WNBA titles, in 2007, 2009, and 2014, all of them under Robert Sarver ownership.
Under Jerry Colangelo, the franchise built its early identity but did not reach a title. Under Mat Ishbia, the team has reached the playoffs and made championship series appearances, though a title under the current ownership group has not yet arrived as of the 2026 season.
Where The Phoenix Mercury Play Home Games
The Mercury share their home court with the Suns at Mortgage Matchup Center in downtown Phoenix, a venue that has carried several names over the years, including Footprint Center and PHX Arena.
Downtown Phoenix hosts more than one Ishbia owned team, and the region is home to several other franchises with their own ownership stories, including the Arizona Diamondbacks and the Arizona Wildcats baseball program.
For a full record of the franchise, including season by season results, see the team page on Wikipedia.
Are The Phoenix Mercury For Sale In 2026
No. There is no credible report that Mat Ishbia plans to sell the Phoenix Mercury. He has instead doubled down, publicly backing the team roster and investing in facilities alongside his ownership of the Suns.
Given that Ishbia bought the Mercury as part of a combined deal with the Suns, a sale of one team without the other would be unusual, and no such split has been reported by any outlet covering the league.
Frequently Asked Questions About Phoenix Mercury Ownership
Who Is The Owner Of The Phoenix Mercury?
Mat Ishbia is the principal owner and governor of the Phoenix Mercury, a role he has held since February 2023 alongside his brother Justin Ishbia.
Who Is Mat Ishbia?
Mat Ishbia is the chairman and chief executive of United Wholesale Mortgage and a former Michigan State basketball player. He is also the owner of the NBA Phoenix Suns.
What Is Mat Ishbia Net Worth?
According to Forbes data cited in 2026, Mat Ishbia net worth is estimated near 9.1 billion dollars, built largely from his stake in United Wholesale Mortgage.
What Is The Phoenix Mercury Ownership History?
The Mercury were founded by Jerry Colangelo in 1997, sold to Robert Sarver in 2004, and sold again to Mat Ishbia in 2023 following an investigation, according to ESPN and CNBC reporting.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.