[Zach Harper]" There have been whispers and rumors within the last year that the Suns [ownership] might not have money. Ishbia might not have cash."

[puggle]

That's his brother no? But doesn't really matter since their wealth all comes from the same business

The press release said Mat and their pops are still going to be significant investors if it goes through.

 

[feelosofer]

Yes they do
If he is broke then he might have lost everything in his other bussinesses.

This is what happened to the maloofs in Sacramento if I remember correctly.

Happened to a NFL owner as well i believe the glazer family was severely cashs trapped for a while after their acquisition of man United.

Then we all know the Bengals largely were cash strapped and ran like a ghetto until Marvin Lewis cleaned them up

https://atozsports.com/nfl/cincinnati-bengals-news/bengals-2025-nflpa-report-card-treatment-of-families/

Still ghetto. The Bengals facilities are essentially akin to a Division III football program and if IIRC they don't even properly feed their players. Telling them to use local restaurants.

But I get the point you're making about Marvin Harris he was a respectable man.

 

[FukkaPaidEmail]

this is highly likely to be cap..his brother will probably be the owner of the White Sox in a couple

UWM market cap been tumbling but his money gotta be straight if they still moving like that

 

[MushroomX]

Scorsese gonna have to direct the 30 for 30 on this shyt

What if I told you... That a billionaire bet the house… and got evicted by April.
That three All-Stars... couldn’t buy one postseason win.
That the only thing elite... was the luxury tax bill.
That when it was time to compete… the Suns disappeared like their liquidity.

30 for 30: House of The Fading Suns
Tuesday at 8PM Eastern on ESPN.
Presented with Limited Commercial Interruption by Roy Bahns.


​

 

[Brozay]

And Reinsdorf essentially just agreed to sell dude the White Sox in a few years

and he’ll still probably spend more than Jerry

 

[10bandz]

The brother just agreed to buy another team. How can they not have cash

 

[10bandz]

The Jit Pablo been on a generational run

Protect Pablo

 

[Loose]

Bad look for the NBA. How can your newest owner be broke already?

And got rid of all assets/ picks

 

[Rigby.]

The Jit Pablo been on a generational run

Going to bat for uncensoring the word cocksucker is a movement I can get behind

 

[Eastside Get The Money]

Them folks gonna have Beal’s body found tied up blindfolded in the desert somewhere for stealing all that money

 

[Rigby.]

Would definitely help explain why he pillaged a Finals contender so recklessly

 

[Paper Boi]

cheap owner broke owner

 

[cobra]

i know a certain billionaire who needs a PR boost

musk may buy the suns

 

[MJ Truth]

Would definitely help explain why he pillaged a Finals contender so recklessly

Not really. He’s basically spent the maximum amount of money he could spend on this team. But if he’s willing to spend this recklessly to produce a mediocre product, that’s probably how he runs his finances in general.

 

[David_TheMan]

Not really. He’s basically spent the maximum amount of money he could spend on this team. But if he’s willing to spend this recklessly to produce a mediocre product, that’s probably how he runs his finances in general.

not really.
He made his money on a housing loan company, just like Gilbert with Quicken Loans. They pump out mortgage loans and due to the way the US is structured they print money because 75% of all mortgages are backed by the US government via subsidy.

His company is the first sign of the coming mortgage bubble burst.
His company UWM was pumping out zero down mortgages subprime mortgages again (https://www.cnn.com/2024/05/30/business/zero-down-mortgages-making-a-comeback_
Make no mistake this is a high level scam

Instead, the program will allow buyers to pay for 97% of the home’s value with a first mortgage and then provide the remaining 3% (up to $15,000) in the form of a second mortgage.


That second mortgage won’t accrue interest, but it will need to be paid back — in full as a balloon payment — when the home is sold, the mortgage is paid off or if the owner refinances.

‘Demand has been huge’​

These mortgages are only open to first-time homebuyers and those making no more than 80% of the area’s median income.


“The initial demand has been huge. We already have a couple of thousands of loans submitted,” Alex Elezaj, UWM’s chief strategy officer, told CNN.


UWM said that no other wholesale lender or non-bank mortgage company is offering such a program nationally. (UWM is a wholesale lender that connects homebuyers and realtors with mortgage brokers through its Mortgage Matchup platform. Earlier this month, Mortgage Matchup was named the first-ever mortgage partner of the NBA and WNBA.)


Yet some worry that this kind of mortgage could cause problems for homeowners down the line.


The central risk is that because they put down no down payment up front, homeowners will be starting with no equity.


That means they’d find themselves instantly underwater (owing more than the home is worth) if the red-hot housing market suddenly cools and home values go down.

“It could happen again”​

That could be a problem if the homeowner needs to sell quickly, perhaps because they lose their job, face financial distress or need to relocate.


Suddenly, they’d be on the hook to pay back that second mortgage. And because they’re underwater, the home sale won’t generate enough cash to retire the debt.


“If the homeowner lacks the cash to make up the difference, then he or she will be in default on the second mortgage and at risk of foreclosure and damaged credit,” said Patricia McCoy, a professor at Boston College Law School.


That scenario is “exactly what happened during the subprime crisis, when millions of homeowners were underwater on their mortgage and went into default,” said McCoy, a former mortgage regulator at the Consumer Financial Protection Bureau (CFPB). “It happened before and it could happen again.”


The housing bubble that popped around 2006 was fueled in part by an explosion of lending to subprime borrowers. In the years leading up to the bubble, lenders came up with new products like adjustable rate mortgages and no down-payment loans that ended up blowing up when home prices eventually collapsed.

My guess is the Trump talk of privatizing Freddie Mac and Fannie Mae will see Quicken/Rocket Mortgage and UWM get destroyed.

Trump says he's working to take Fannie Mae and Freddie Mac public. Here's what it could mean to homebuyers and investors.

President Trump says he'll decide soon whether to take Fannie Mae and Freddie Mac public — a move that was vocally sought by Trump ally Bill Ackman.

www.cbsnews.com

You can see the housing numbers are cratering.

United States MBA Mortgage Applications

Mortgage Application in the United States decreased by 3.90 percent in the week ending May 30 of 2025 over the previous week. This page provides - United States MBA Mortgage Applications - actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

The volume of mortgage applications in the US fell by 3.9% in the week ended May 30th 2025, marking a third consecutive week of falls, after a 1.2% decline in the previous period, according to the Mortgage Bankers Association. Applications to refinance a home loan, which are most sensitive to weekly rate moves, dropped 3.6% and applications for a mortgage to purchase a home declined 4.4%. “Refinance activity fell across both conventional and government segment and the overall average refinance loan size was the smallest since July 2024, as potential borrowers hold out for larger rate drops,” Joel Kan, an MBA economist said. Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) fell by 6bps to move back to 6.92%. Mortgage rates topped a four-month high of 6.98% in the week before, when mounting fiscal concerns pushed long-term Treasury yields sharply higher. source: Mortgage Bankers Association of America​

Don't be surprised if the Suns get sold and that White Sox deal quietly gets dropped.