There have been whispers and rumors within the last year that the Suns [ownership] might not have money. Ishbia might not have cash. There’s questions about his business [United Wholesale Mortgage] and how liquid it was.
There have been whispers and rumors within the last year that the Suns [ownership] might not have money. Ishbia might not have cash. There’s questions about his business [United Wholesale Mortgage] and how liquid it was.
25 comments
Just trade KD to Minnesota, trade Booker to Houston (and retire his number), buy out Beal and get it over with.
This was a failure, and that’s ok. They’ll be better off knowing they’re in a direction rather than the mess they’re in right now
From a cheap owner to a broke one. Suns get all the GOATs.
UWM paid my taxes late last year. After I complained they sold my mortgage to another company. Not surprised.
*happy Dan Gilbert noises*
he should sell the team to make some good cash.
although i really doubt this is the case. the absolute one thing you can’t say about mat ishbia’s tenure as the owner of the suns is that he hasn’t put his money where his mouth is. plus, his brother just assumed control of the chicago white sox like yesterday. this kinda just seems like an “ishbia bad, give me clicks” type of post.
Everything is totally fine in Phoenix, nothing to see here
Matt Ishbia snatched the crown of “best owner” straight outta of Vivek’s hands to start the 2020’s and never looked back. What a mad lad he is.
As someone who lives in Michigan and worked at UWM for a bit this is the least surprising thing ever. Guy is a snake oil salesman
Oh for the love of god. I just can’t take another layer of dysfunction.
Dan Gilbert sends his regards
I hope he can still put food on the table
Sell the team buddy
How is this possible, and the nba should know this
Rumors aren’t always true. He sure hasn’t spent like he was broke.
He has money, he doesn’t want to spend it.
If they actually couldn’t afford it they could sell for a massive profit.
Highly doubt it considering Justin Ishbia, who is also part majority owner of the Suns, just reached an agreement to buy a majority stake of the White Sox.
lol first job was at UWM out of college. It’s an absolute shit show of a company and major Koolaid Drinkers within that company. It’s like a high school for grownups. Favorite memory was when a girl took a massive shit on the company’s main floor for underwriters. (Yes this legit happened and she got fired/she quit)
I saw the house he is building in the North Shore. The dude has money.
Didn’t this guy just buy the White Sox?
Isn’t he trying to buy the white Sox too?
[Pablo Torre did an episode of his show that discussed this topic, and how Ishbia’s business works that I thought was really well done.](https://youtu.be/FrWuKlxZ064?si=ELaGvqDrBxRWkZEc)
Source: Dan Gilbert
As someone who used to work there. UWM is a joke and Ishbia is an even bigger joke.
Looking at the[ financials on Google Finance.](https://www.google.com/finance/quote/UWMC:NYSE?sa=X&ved=2ahUKEwi9iP208d-NAxW5G9AFHQffFoYQ3ecFegQIWBAb)
Free cash flow for the last year: -792.27M
Amount of cash on hand: 514.07M
I’d say that’s an indiciation of a problem. If that holds, they will drain cash completely in a year. Now, I don’t know if last year’s problems were a one-time thing or a continuing thing, but either way, they need to raise capital fast.
How do you go broke with a mortgage company? That’s like going bankrupt while owning a casino.