Mat Ishbia, owner of the Phoenix Suns, establishes a new investment group known as Player 15.

• Mat Ishbia, owner of the Phoenix Suns, is establishing a new investment group focused on sports, entertainment, and real estate called Player 15.
• The Footprint Center arena will house the NBA's Phoenix Suns, the WNBA's Phoenix Mercury, and the G-League team for the Suns, in addition to their operations.
• Ishbia stated to CNBC that it is about bringing all these businesses under a single brand.

Mat Ishbia, owner of the Phoenix Suns, is establishing a new investment group that combines sports, entertainment, and real estate.

The Player 15 Group, announced Wednesday, will be the new investment or holding company for the National Basketball Association's Phoenix Suns, Women's National Basketball Association's Phoenix Mercury, and the newly acquired G-League team for the Suns. This makes Phoenix the first NBA franchise to have a G-League affiliate.

Ishbia stated to CNBC that it is about bringing all these businesses under a single brand.

Regardless of whether you're a top performer or a support staff member, everyone has a role to play," he emphasized. "Player 15 embodies our team-oriented approach.

The new investment company will also manage the operations of the downtown Phoenix Footprint Center arena, home to the Phoenix pro teams, and the $100 million development for a new Suns and Mercury team campus and dedicated Mercury practice facility, which was announced in October.

Ishbia will invest through Player 15 in the future, he stated.

The group emulates the structure of one-stop shop investment groups, such as Fenway Sports Group, Harris Blitzer Group, and The Kraft Group.

Ishbia, who is 44 years old, is the CEO of mortgage lender United Wholesale Mortgage and owns the Phoenix Suns and Mercury basketball teams. He has a net worth of more than $8 billion, according to Forbes.

He was the 15th player on the roster at Michigan State University while wearing a No. 15 jersey, but he attributes his success to grit and tenacity.

He said he was the hardest working guy on the team, yet he was the worst.

In 2000, Ishbia won a national title with the Spartans championship team while averaging only a few minutes per game.

Ishbia states that Player 15 is a tribute to the player who earns the final spot not due to their individual talent but because of their contribution to the team.

“It has really defined everything I was about,” Ishbia said.

A year has passed since Ishbia purchased the Suns and Mercury for a record $4 billion from troubled owner Robert Sarver.

Since then, he has implemented significant alterations to various aspects of the organization, including the appointment of a new CEO, Josh Bartelstein, the acquisition of NBA superstar Kevin Durant, and the construction of modern facilities in Phoenix.