The United Wholesale Mortgage (UWM) brand has become the naming rights partner for the home arena of US basketball's Phoenix Suns (NBA) and Phoenix Mercury (WNBA).
All three organizations are run by billionaire Mat Ishbia, who has been the chief executive (CEO) of UWM since 2013 and who then bought both majority stakes in both the Suns and Mercury in February 2023 (for $4 billion).
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In a 10-year deal worth nearly $115 million, the venue in Phoenix, Arizona, which hosts home games for both teams, will from now on be called the Mortgage Matchup Center. It is currently simply known as the PHX (Phoenix) Arena, after an announcement in February that a new, permanent naming rights partner was being sought.
The previous naming rights partner was environmental technology company Footprint, which signed a deal to that effect in 2021.
Overall, the venue has been open since 1992.
In addition, this agreement – unveiled yesterday – establishes the specific Mortgage Matchup brand as the mortgage partner of both the Suns and Mercury, as well as of the Valley Suns from the feeder G League.
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By GlobalDataThis adds to Mortgage Matchup's designation as the overall mortgage partner of the NBA and WNBA themselves, with that partnership having been in place since May last year.
Ishbia said: "The Phoenix Suns and Mercury have a diverse, passionate, and engaged fan base in sports that will allow us to make strong connections between mortgage brokers and consumers.”
Josh Bartelstein, chief executive of both the Suns and Mercury, added: "Our arena hosts more than basketball games and entertainment events – it represents a sense of belonging, community, and moments fans carry with them forever. That’s exactly why Mortgage Matchup is the perfect partner."
Annually, the arena brings in more than two million visitors to watch the Suns and the Mercury play, as well as to attend the range of concerts and family-friendly events that take place there.
Ishbia is a former Michigan State University basketball player and part of the Spartans team that won the National Collegiate Athletic Association title in 2000. He also worked alongside head coach Tom Izzo for a year before joining United Wholesale Mortgage.
