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Mat Ishbia, owner of the Phoenix Suns, is reportedly looking to increase his stake in the team despite significant losses at his company, United Wholesale Mortgage (UWM), which reported $452 million in losses in Q2 2026. UWM’s stock has dropped over 70% since Ishbia took majority control in 2023, yet these losses won’t impact his management of the Suns, according to spokesperson Nicole Roberts. UWM has secured a $1.5 billion capital partnership with Oaktree Capital Management, and Ishbia personally committed $550 million to address its debts. He aims to fully buy out remaining minority shareholders, potentially increasing his ownership to nearly 99% of the franchise.

• United Wholesale Mortgage reported $452 million in losses for Q2 2026.
• UWM's stock has dropped over 70% since Ishbia took control of the Suns.
• Ishbia has committed $550 million to UWM, including $150 million in capital and $400 million in a rights offering.
• The projected tax bill for the Suns for the 2026/27 season is over $58 million.

• Ishbia is in negotiations to buy out remaining minority shareholders of the Suns and Mercury.
• Existing minority shareholders Andy Kohlberg and Scott Seldin are involved in a legal dispute with Ishbia.
• The situation presents contrasting liquidity challenges between Ishbia and other owners like Mark Walter.

As Ishbia works on finalizing buyouts of minority ownership stakes, he could consolidate control and stability for the Suns. The outcome of the legal battle with Kohlberg and Seldin may determine the pace of his ownership increase. Should UWM stabilize financially, Ishbia may further elaborate on his long-term vision for the franchise.

Despite UWM's financial struggles, Ishbia's commitment to increasing his stake in the Suns signals confidence in his ownership strategy, contrasting his situation with that of financially constrained counterparts. The impending buyouts could reshape the Suns’ strategic direction while affirming Ishbia's long-term control.