Phoenix Suns ownership and roster transitions

Phoenix Suns owner Mat Ishbia has addressed both the financial standing of his mortgage company and the strategic direction of the NBA franchise.

During the team’s annual Media Day, Ishbia responded to reports of a $450 million net loss at United Wholesale Mortgage, asserting that the company’s performance would have “zero” effect on his spending for the Suns or the fan experience. He also indicated plans to increase his ownership stake in the team to roughly 80%.

By mid-October, Ishbia expressed regret regarding the acquisition of Kevin Durant, stating the move did not align with his long-term vision despite authorizing luxury tax spending to pursue a championship. In a CNBC interview, Ishbia remarked, “It was more going and getting Kevin Durant… that was not aligned with my vision,” noting the move did not succeed as intended. This led to Durant being traded to the Houston Rockets in the summer of 2025 following the Suns' playoff exit.

Durant responded to these remarks on X, using the hashtag “#blameKD” to defend his performance at age 36 and sarcastically suggesting Ishbia’s comments made it sound as though he had committed a crime. In a subsequent CNBC Sport interview, Ishbia reflected on his early ownership, stating he had previously tried to “solve problems” by spending on superstar talent rather than establishing a clear team identity. He noted that acquiring players like Durant “doesn’t necessarily lead to championships.”

Durant countered Ishbia’s framing on social media, remarking that the owner was acting as if he had been “arrested for a DUI or sumn,” while asserting he maintained elite play in Arizona. Ishbia responded by clarifying he did not blame Durant personally, but expressed satisfaction with the new culture being built in Phoenix.