Phoenix Suns owner, Mat Ishbia, is making waves in the sports and investment world with the establishment of his new venture, Player 15 Group. This investment group will serve as a unifying platform for Ishbia’s various investments, including the NBA’s Phoenix Suns, the WNBA’s Phoenix Mercury, and the recently acquired G-League team for the Suns. The formation of this investment company marks a significant milestone for the Phoenix Suns franchise, as it becomes the last NBA team to have a G-League affiliate.
The main purpose of Player 15 Group is to bring together all of Ishbia’s businesses under one brand. Ishbia emphasizes that the company’s ethos is centered around teamwork and inclusivity. It doesn’t matter if you’re a star player or a janitor, everyone has a role to play in the success of the organization. The name “Player 15” holds personal significance for Ishbia, as it refers to his college basketball days at Michigan State University, where he wore the No. 15 jersey and was known as the last player on the roster. Despite being the “worst” player on the team, Ishbia attributes his success to his determination and work ethic.
In addition to the basketball teams, Player 15 Group will also oversee the operations of the Footprint Center arena in downtown Phoenix, where the pro teams play. Furthermore, it will manage a $100 million development project that includes a new campus for the Suns and Mercury teams, as well as a dedicated practice facility for the Mercury. Ishbia intends for all future investment opportunities to be channeled through Player 15 Group.
The establishment of Player 15 Group follows in the footsteps of other one-stop-shop investment groups in the sports world, such as Fenway Sports Group, Harris Blitzer Group, and The Kraft Group. These conglomerates have successfully brought various sports teams, entertainment ventures, and real estate investments under one umbrella, creating synergies and maximizing profitability.
Since acquiring the Suns and Mercury franchises just a year ago for a record-breaking $4 billion, Ishbia has wasted no time in implementing significant changes. From revamping the front office to making key roster additions and investing in state-of-the-art facilities, Ishbia has made it clear that he is committed to taking the Phoenix teams to new heights. The hiring of CEO Josh Bartelstein, the recruitment of NBA superstar Kevin Durant, and the development of modern facilities all contribute to Ishbia’s vision for success on and off the court.
Ishbia’s optimism about the future of the NBA and his investments is palpable. He believes that NBA valuations will double again within the next 10 to 15 years, making the Phoenix teams a lucrative long-term investment. With his track record of success and determination, it’s clear that Ishbia is poised to make a significant impact in the sports and investment world through Player 15 Group.
In conclusion, Mat Ishbia’s creation of Player 15 Group marks a new era for the Phoenix Suns and Phoenix Mercury franchises. This investment company will bring together all of Ishbia’s ventures, including the basketball teams, the G-League affiliate, the Footprint Center arena, and a multi-million dollar development project. Ishbia’s personal connection to the number 15 and his commitment to teamwork and inclusivity serve as the driving forces behind Player 15 Group. With a strong foundation and ambitious plans for the future, Ishbia is set to make a lasting impact in the sports and investment landscape.
