It was no secret Phoenix Suns owner Mat Ishbia and Cleveland Cavaliers owner Dan Gilbert don't like each other. But a new story reveals that the feud is more intense than previously imagined.
NEW: Mat Ishbia and Dan Gilbert have stood for years on opposite sides of a fierce war between their two mortgage-lending giants. Inside that rivalry, which has now reached the NBA, as their teams face off Wednesday night in Phoenix (7 p.m. PT on ESPN): https://t.co/Q2Vr6ro1ns
— Baxter Holmes (@Baxter) April 2, 2024
Ishbia took over the Suns early last year and one of his first announcements was that Gilbert's company, Rocket Mortgage, would no longer be an arena sponsor in Phoenix. That may have been payback for Gilbert, who was the lone NBA owner to vote against his approval as the Suns' new owner.
But the rivalry started long before Ishbia had an NBA team. Ishbia, whose United Wholesale Mortgage in Pontiac is located a short drive from Rocket's headquarters in Detroit, aggressively attacked Rocket's business practices and tried to take their clients. In 2021, UWM announced they wouldn't do business with any brokers who worked with Rocket.
It has only escalated. Gilbert offered to pay penalties to brokers who violated Ishbia's ultimatum and still worked with Rocket. Ishbia sent employees to the Rocket Mortgage Classic golf tournament wearing shirts boasting about UWM being the "#1 Mortgage Lender In The Nation."
But as the Cavaliers and Suns prepare to meet for the second time this season, Gilbert's third-place Cavs may get the last laugh on the eighth-place Suns. With a win, Cleveland could do a lot to push Phoenix into a 9-10 play-in game, forcing them to win two games to even make the playoffs.
After sending most of their future draft picks to the Brooklyn Nets and Washington Wizards to acquire Kevin Durant and Bradley Beal while going far over the luxury tax, it would be a truly disappointing result for Ishbia's Suns. You could even say they've mortgaged their future – for very little reward.
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