When Mat Ishbia purchased the Phoenix Suns in February 2023, he brought more than just basketball to the court. He ignited a fierce rivalry that transcends the hardwood, pitting two billionaire mortgage lenders against each other. Let’s dive into the backstory of this captivating feud.
Mat Ishbia, the 43-year-old CEO and chairman of United Wholesale Mortgage (UWM), burst onto the scene with a meteoric rise. His mortgage company, headquartered in Michigan, transformed from a modest team of 12 to a powerhouse of 7,000 employees. Ishbia’s net worth soared, and he became a billionaire in 2021 when UWM went public. But his ambitions extended beyond mortgages.
In December 2022, Ishbia’s bid was accepted to purchase the Phoenix Suns and the WNBA’s Phoenix Mercury for a staggering $4 billion. The NBA approved the sale, making him the majority owner of the Suns.
Dan Gilbert, the co-founder of Rocket Mortgage and owner of the Cleveland Cavaliers, is no stranger to NBA ownership. His $375 million purchase of the Cavs in 2005 set a record at the time. Gilbert’s empire extends beyond basketball; he’s a billionaire, businessman, and philanthropist. His influence reverberates through Detroit, where he moved Quicken Loans’ headquarters, revitalizing the city.
But Gilbert’s relationship with Ishbia is frosty, even though Gilbert dismisses any notion of rivalry. Yet, their clash spills over from the mortgage world into the NBA, creating a compelling subplot.
As Ishbia settled into his role as Suns owner, the tension escalated. Gilbert’s Cavs faced off against Ishbia’s Suns, and every matchup felt like a proxy battle. Fans speculated about heated exchanges, and behind-the-scenes maneuvers. The media feasted on the drama, dissecting every move.
Now, in a voicemail that was leaked this past weekend, the situation worsened, as Ishbia could be heard talking about how much better his business is doing than Gilbert’s, while absolutely insulting him and the company, using multiple explicit words.
“We f**king took those c**ksuckers down. F**k them, and we’re gonna keep f**king sticking it to ‘em forever. F**k those guys, we’re number one.”
Suns owner Mat Ishbia went off on Cavs owner Dan Gilbert’s rival business in a leaked voicemail:
“We f**king took those c**ksuckers down. F**k them, and we’re gonna keep f**king sticking it to ’em forever. F**k those guys, we’re number one.”
MUCH more from a bombshell… pic.twitter.com/cf8TrsMWU8
— Pablo Torre Finds Out (@pablofindsout) April 2, 2024
