A growing trend among billionaires today is the pursuit of ownership in professional sports teams, particularly within the NBA, where franchises are increasingly available as their values soar.
The Phoenix Suns recently exemplified this trend, with Mat Ishbia acquiring the franchise for a staggering $4 billion, a transaction that also included the WNBA’s Phoenix Mercury.
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In typical fashion for new NBA owners, Ishbia has taken an assertive approach to enhance the team, approving trades for stars Kevin Durant and Bradley Beal.
Despite facing challenges with their revamped roster, Ishbia remains focused on expanding his ownership portfolio. He and his brother, Justin Ishbia, are reportedly interested in acquiring a Major League Baseball team, specifically the Minnesota Twins.
This ambitious endeavor represents a substantial undertaking, considering the difficulties involved in both the Phoenix and Minnesota franchises. Nevertheless, the Ishbia family appears confident in their ability to manage this expansion.
It will be intriguing to observe the sale price of the Twins franchise and whether the Ishbia brothers ultimately secure ownership of the team.
