Matt Ishbia is set to officially become the new owner of the Phoenix Suns after the NBA Board of Governors has approved him as the new governor of the team.
According to NBA insider Shams Charania, the governors voted 29-0 for Ishbia’s approval. The Cleveland Cavaliers abstained.
Ishbia, mortgage lender, purchased the Suns along with WNBA side Phoenix Mercury from Robert Sarver.
As noted by Baxter Holmes of ESPN, Cavaliers abstained from voting because of the fierce rivalry between Ishbia’s company United Wholesale Mortgage and Cavaliers owner Dan Gilbert’s company Rocket Mortgage.