Top 3 NBA franchises which were sold for over $2 billion

The Phoenix Suns are the most recent NBA team to be purchased after having issues with their owner. Sources say that the team was sold for over $4 billion to a former player of the Michigan State Spartans.

After months of speculating as to who would be the new owner of the organization, reports broke on Thursday. Both the Suns and the Mercury were included in the acquisition by billionaire Mat Ishbia. Former owner Roberts Sarver has agreed in principle to sell. Ishbia was a walk-on for the Michigan State Spartans when they won the national championship in 2000.

Ishbia is the chairman and CEO of Michigan-based mortgage lender, UWM Holdings. Ishbia joined in 2003 and became CEO in 2013. Since 2015, UWM has grown to become the largest wholesale lender. A year ago, he pledged $32 million to Michigan State's athletic department.

There are three other teams that have sold for over $2 billion in NBA history. Let's take a look at which teams made the list.

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Brooklyn Nets: $3.3 billion

Alibaba Group celebrates opening of Olympic Showcase.

Joe Tsai bought the Brooklyn Nets for $3.3 billion in 2019. Tsai is well known for co-founding Alibaba, an e-commerce store that has gained popularity in the last few years. Together with the deal, Tsai also became the owner of the Barclays Center. The billionaire bough 49% of the team from its previous owner.

Mikhail Prokhorov owned the team before selling it to Tsai. At the time, it was the highest amount ever paid for a sports franchise. It surpassed David Tepper's purchase of the NFL's Carolina Panthers, which went as big as $2.2 billion.

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Houston Rockets: $2.2 billion

Former Houston Rockets guard James Harden

Tilman Fertitta paid $2.2 billion in 2017 to purchase the Houston Rockets and Clutch City Sports and Entertainment. Fertitta is a native of Houston and has an extimated net worth of $7.6 billion. He is the chairman, CEO and owner of Landry's Inc. Tilman was featured on television when he became the star of "Billion Dollar Buyer."

"I could not be happier. To own the Rockets in my hometown of Houston is a dream come true. I promise to continue to make this city proud of the Rockets and to do what we can to bring home a championship," Fertitta said.

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LA Clippers: $2 billion

LA Clippers owner Steve Ballmer

Steve Ballmer bought the LA Clippers for $2 billion in 2014 after their previous owner, Donald Sterling, got in trouble for his racist remarks. It was reported that the deal almost reached $2.15 billion. Ballmer is a former CEO of Microsoft and is often seen being energetic on the NBA sidelines.

"I am humbled and honored to be the new owner of the Los Angeles Clippers," Ballmer said.