Mat Ishbia

Two minority owners of the NBA’s Phoenix Suns are suing the team’s holding company and majority owner Mat Ishbia, who is also the CEO and chairman of Pontiac-based mortgage lender United Wholesale Mortgage.

The suit alleges mismanagement, conflicts of interest, and a lack of required transparency from Ishbia that could harm the minority owners financially, according to Front Office Sports .

The team contends that the suit is merely part of a pressure campaign to push Ishbia into buying out his minority partners at a premium, the outlet reports.

The suit also demands access to team records. Ishbia purchased a majority stake in the Suns in 2022 for $4 billion.

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