In a bold move to streamline and consolidate his investments, Mat Ishbia, owner of the Phoenix Suns, has announced the formation of a new sports, entertainment, and real estate investment group. Aptly named the Player 15 Group, this innovative company aims to house not only the National Basketball Association’s (NBA) Phoenix Suns and the Women’s National Basketball Association’s (WNBA) Phoenix Mercury but also the newly acquired G-League team for the Suns. This strategic move positions the Phoenix Suns as the only NBA franchise without a G-League affiliate.
Through the establishment of the Player 15 Group, Mat Ishbia aims to unite all these interconnected businesses under one brand, emphasizing the value of teamwork and inclusivity. Regardless of one’s role within the organization, whether a star player or the janitor, each individual is integral to the team’s success. The name “Player 15” symbolizes this ethos, reminding everyone of the importance of collective effort and dedication.
A Comprehensive Portfolio
Alongside the basketball teams, the Player 15 Group will encompass the operations of the downtown Phoenix Footprint Center arena, which serves as the venue for the Phoenix pro teams’ games. Additionally, the ambitious company will oversee the development of a new Suns and Mercury team campus, along with a dedicated Mercury practice facility. This $100 million project, unveiled in October, demonstrates the group’s commitment to providing state-of-the-art facilities for its players and fans alike.
By centralizing his various investments within Player 15, Mat Ishbia aims to create a unified and efficient structure for managing his diverse portfolio. Any future investment opportunities will be channeled through this all-encompassing entity, streamlining decision-making processes and capitalizing on synergies between different ventures.
The birth of the Player 15 Group holds deep personal meaning for Mat Ishbia. At 44 years old, the CEO of mortgage lender United Wholesale Mortgage and owner of the Phoenix Suns and Mercury, he reflects upon his journey and the values that propelled him to success. During his time playing basketball for Michigan State University, Ishbia wore the No. 15 jersey, which represents the last spot on the team roster. Despite being the “worst” player, Ishbia’s relentless work ethic and unwavering dedication ultimately earned him a national title with the Spartans championship team in 2000. This transformative experience shaped Ishbia’s belief in the power of teamwork and the contributions made by every individual, regardless of personal talent.
For Ishbia, Player 15 serves as a tribute to these unsung heroes, the players who secure the last spot on the team not solely due to their individual skills but due to the unwavering commitment and intangibles they bring to the collective. The philosophy encapsulated by Player 15 has become the bedrock of Ishbia’s approach to business and life itself.
Since Mat Ishbia’s record-breaking acquisition of the Phoenix Suns and Mercury from previous owner Robert Sarver for a staggering $4 billion, the franchise has undergone a sea of change. In the span of just a year, Ishbia has implemented sweeping transformations across the organization, from restructuring the front office to revamping the team roster and even reimagining the entirety of their presence in Phoenix.
Critical initiatives that Ishbia spearheaded include the appointment of a new CEO, Josh Bartelstein, whose fresh perspective promises to drive the team’s future success. Furthermore, Ishbia’s astute business acumen attracted NBA superstar Kevin Durant to the Suns, solidifying their competitive edge. Complementing these strategic moves, investments in cutting-edge facilities position the Phoenix Suns and Mercury as leaders in sports infrastructure.
Looking ahead, Mat Ishbia expresses immense satisfaction and enthusiasm for the team’s trajectory, both on and off the court. His foresight and calculated decisions have already yielded impressive returns, establishing the Phoenix teams as a profitable investment. Considering the exponential growth witnessed by NBA valuations over the past decade, Ishbia holds a positive outlook, projecting a bright future for the Player 15 Group over the next 10 to 15 years.
The emergence of the Player 15 Group marks a significant step in the evolution of sports, entertainment, and real estate investment. Mat Ishbia’s visionary approach to consolidating his investments under a single umbrella entity not only enhances operational efficiencies but also emphasizes the value of teamwork and inclusivity. As the Phoenix Suns, Phoenix Mercury, and the newly acquired G-League team converge under the Player 15 brand, the power of collective effort and shared purpose takes center stage. With ambitious plans for state-of-the-art facilities, the Player 15 Group is poised to reshape the landscape of sports and entertainment in Phoenix and beyond.