What Phoenix Suns' Record-Breaking $4 Billion Sale Means for Trail Blazers
News of Mat Ishbia's pending purchase of the Suns turns attention back to Jody Allen.
This story has been updated to reflect that Vulcan Sports, Inc. owns the Moda Center while the city of Portland owns the Veterans Memorial Coliseum and surrounding parking garages. A previous version stated that Vulcan owned the entire Rose Quarter campus.
LAS VEGAS — 98 days.
That's how long it took from Sept. 13, when the NBA released the findings of their investigation that corroborated allegations in an ESPN report about Phoenix Suns owner Robert Sarver's years of racist and misogynistic behavior, to Tuesday, when they officially announced an agreement to sell the team to mortgage lender Mat Ishbia at a valuation of $4 billion.
If that seems like it came together quickly compared to most multibillion-dollar deals, it's nothing compared to the 34 days between TMZ publishing audio of Donald Sterling making racist comments about Magic Johnson on April 25, 2014 and former Microsoft CEO Steve Ballmer agreeing to buy the Clippers for a then-record $2 billion on May 25 of that year.
Scandal has a way of accelerating these things.