Phoenix Suns owner Mat Ishbia addresses mortgage company losses

The Phoenix Suns held their annual Media Day ahead of training camp, with owner Mat Ishbia addressing recent financial reports regarding his company, United Wholesale Mortgage. Despite a reported $450 million net loss in the second quarter, Ishbia stated the company’s performance will have “zero” effect on his spending for the NBA franchise or the fan experience. He also noted plans to increase his ownership stake in the team to approximately 80%.

On the roster front, the Suns have officially signed Duop Reath and Kennedy Chandler. The team faces several competitive battles during training camp, particularly in the center position following a torn labrum for Mark Williams. General Manager Brian Gregory emphasized the need for the organization to build upon last season’s postseason run to establish a consistent culture and identity.