CNBC Sport

Phoenix Suns and Phoenix Mercury owner Mat Ishbia joins CNBC’s Alex Sherman to discuss rising NBA franchise valuations, concerns surrounding United Wholesale Mortgage’s finances, and his long-term vision for basketball ownership. Ishbia addresses speculation about his financial position, reflects on lessons from the Kevin Durant trade, and shares his plans for rebuilding the Suns, improving the fan experience, and transforming NBA All-Star Weekend.
Then, Alex speaks with Michael Osacky, president of Baseballintheattic.com about the growing collectables market.
Episode Notes
Phoenix Suns and Phoenix Mercury owner Mat Ishbia joins CNBC’s Alex Sherman for a wide-ranging conversation about the business of professional sports, NBA franchise valuations, financial stability, and the challenges of building a championship-caliber basketball team.
Ishbia responds directly to questions about his financial position and United Wholesale Mortgage (UWM), rejecting speculation that the mortgage company's performance could jeopardize his ownership of the Suns. He also discusses his growing ownership stake in the Suns and Mercury, explains why he believes the combined franchises could be worth $8 billion to $9 billion, and shares his philosophy on acquiring additional sports teams.
Beyond the financial headlines, Ishbia outlines his vision for the future of NBA and WNBA ownership. From affordable concessions and free over-the-air Suns broadcasts to potential changes to NBA All-Star Weekend, he explains why prioritizing fans, community engagement, and long-term success is central to his approach.
The conversation also explores Ishbia's evolving basketball strategy following the Kevin Durant trade, the importance of establishing a strong team culture, the future of the WNBA, and his expectations for the Phoenix Suns in a competitive Western Conference.

Key topics discussed
NBA ownership and expansion: Why Ishbia isn't pursuing a traditional sports empire, his involvement with the Chicago White Sox, and his perspective on potential NBA expansion into Las Vegas.
UWM finances and ownership stability: Ishbia addresses reports about loans, liquidity, margin-call risk, and the relationship between his mortgage business and basketball franchises.
Phoenix Suns and Mercury valuations: Why Ishbia believes the combined franchises are worth significantly more than his original $4 billion acquisition price.
Fan experience and innovation: How affordable concessions, free television broadcasts, arena enhancements, and other initiatives fit into Ishbia's ownership strategy.
NBA All-Star Weekend: Potential changes to the dunk contest, greater star participation, and ideas for new competitions.
WNBA growth and leadership: The search for a new WNBA commissioner, investment in women's basketball infrastructure, and the Phoenix Mercury's future.
Kevin Durant trade lessons: What Ishbia learned about team-building, leadership, culture, and the limits of assembling expensive superstar rosters.
Phoenix Suns expectations: The team's competitive identity, Devin Booker's leadership, and Ishbia's goals for playoff success.

Episode timestamps
Timestamps are relative to the start of the recorded interview.
01:32 — Ishbia's sports ownership philosophy and the Chicago White Sox investment
02:28 — United Wholesale Mortgage's financial performance and Suns ownership concerns
04:33 — Ishbia addresses loans, liquidity, and margin-call speculation
06:05 — Minority ownership transactions and the Suns' potential $8 billion to $9 billion valuation
07:57 — UWM's mortgage business outlook and purchase lending strategy
09:49 — Potential NBA expansion in Las Vegas and its impact on Phoenix Suns fans
10:45 — Affordable concessions, free broadcasts, and improving the fan experience
12:50 — Plans to revitalize NBA All-Star Weekend and the dunk contest
14:34 — The WNBA commissioner search and investment in women's basketball
15:51 — Isiah Thomas's relationship with Ishbia and basketball operations
16:27 — Lessons from the Kevin Durant trade and the Suns' new team culture
20:10 — Why Ishbia rejects NBA tanking and prioritizes winning
21:54 — Phoenix Suns season expectations, playoff goals, and Devin Booker's role

Notable insights
Ishbia emphasizes that financial success and franchise ownership stability are separate issues, asserting that UWM's performance does not threaten his basketball teams. He also argues that NBA franchises have substantial long-term growth potential as demand for professional sports ownership continues.
Reflecting on the Kevin Durant era, Ishbia acknowledges that acquiring elite talent without a clearly defined organizational identity was insufficient to produce championship success. His revised approach centers on what he calls the Suns DNA: players who demonstrate toughness, defensive commitment, work ethic, and alignment with the franchise's culture.
Ishbia also makes clear that he opposes intentional losing as a rebuilding strategy. Rather than embracing tanking, he wants the Suns to improve consistently, compete for playoff victories, and build around Devin Booker.

Related resources
Phoenix Suns — Official Website
Phoenix Mercury — Official Website
United Wholesale Mortgage
CNBC — Business and Financial News
NBA — Official Website
WNBA — Official Website


Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Las Vegas Sands CEO and Dallas Mavericks governor Patrick Dumont joins CNBC's Contessa Brewer in Macao to discuss the NBA China Games, potential NBA expansion in Las Vegas, and plans for a new Mavericks arena and entertainment district in Dallas. Dumont also shares his outlook on Macao's gaming market, luxury tourism in Asia, and how live sports and entertainment are shaping the future of hospitality.
Episode Notes
Las Vegas Sands CEO and Dallas Mavericks governor Patrick Dumont sits down with CNBC's Contessa Brewer in Macao to discuss the intersection of professional basketball, casino gaming, luxury hospitality, and global tourism. With the NBA China Games bringing the Dallas Mavericks to Macao, Dumont explains how major sporting events can create lasting economic opportunities, attract international visitors, and strengthen community connections.
From the potential arrival of an NBA expansion franchise in Las Vegas to ambitious plans for a new Dallas Mavericks arena, Dumont offers insight into the business strategy behind sports ownership and entertainment development. He also addresses Macao's evolving gaming economy, Las Vegas Sands' long-term investment philosophy, and the growing importance of luxury experiences across Asia.
Topics discussed include:
NBA China Games in Macao: Why bringing the Dallas Mavericks to Macao represents an important milestone for Las Vegas Sands, the NBA, and international basketball.
Basketball and community development: How Mavericks players, including Cooper Flagg and Kyrie Irving, are engaging with young athletes and promoting teamwork.
Macao gaming revenue and tourism diversification: Why Las Vegas Sands continues investing despite fluctuations in casino revenue and how entertainment, shopping, and sporting events support tourism.
Luxury hospitality in Asia: Dumont's outlook on long-term economic growth in China and other Asian markets, and the demand for premium travel experiences.
Formula 1 and live entertainment: How the Singapore Grand Prix, Sands' Ferrari partnership, and concerts help attract visitors to luxury resorts.
NBA expansion in Las Vegas: Why Dumont believes Las Vegas is a natural destination for an NBA franchise and how an arena could fit into the city's entertainment landscape.
Dallas Mavericks arena development: Early planning for a new arena and entertainment district, including the potential Valley View site and the distinction between Mavericks development and future Las Vegas Sands investments in Texas.
Prediction markets and sports betting: Dumont's perspective on prediction markets, fan engagement, and the different role of live hospitality experiences.
NBA franchise valuations: Why Dumont considers ownership of the Mavericks a long-term commitment to fans rather than simply a financial investment.
Episode timestamps:
06:27 — Patrick Dumont on hosting the NBA China Games in Macao with the Dallas Mavericks
07:33 — Cooper Flagg, Kyrie Irving, and youth basketball development
08:33 — The economic and community impact of the NBA China Games
09:28 — Macao's gaming revenue, tourism growth, and economic diversification
10:55 — Marina Bay Sands, Singapore, and luxury hospitality strategy
11:46 — Competition in the luxury travel market and Asia's wealth creation
12:43 — Formula 1, Ferrari, concerts, and sports-driven tourism
13:38 — Las Vegas NBA expansion and the city's entertainment potential
14:34 — Arena development and the future of professional basketball in Las Vegas
15:36 — Dallas Mavericks plans for a new arena and entertainment district
16:50 — Prediction markets, sports betting, and the Texas gaming landscape
17:46 — Rising NBA franchise valuations and the Mavericks ownership philosophy
18:11 — How luxury hospitality could reshape the Mavericks fan experience
More about the organizations and events discussed:
Las Vegas Sands — Global resort and hospitality company operating major properties in Macao and Singapore.
Dallas Mavericks — Official website of the NBA franchise.
NBA — League news, international basketball initiatives, and team information.
Marina Bay Sands — Las Vegas Sands' integrated resort in Singapore.
Formula 1 — Official information about F1 racing, including the Singapore Grand Prix.
CNBC — Business and financial news covering gaming, travel, sports, and global markets.
Dumont emphasizes that the future of Las Vegas Sands depends on creating experiences that bring customers back, while his vision for the Dallas Mavericks focuses on building a world-class arena that combines basketball, entertainment, and exceptional hospitality.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

World No. 3 Jessica Pegula joins Alex Sherman to discuss her rise to the top of women’s tennis, the demands of the WTA schedule, late-night U.S. Open matches and her pursuit of a first Grand Slam title. Pegula also shares how she manages her career like a business, her family’s Buffalo Bills and Sabres ownership, The Players Box Podcast and her partnership with The Farmer’s Dog.

Episode Notes
Jessica Pegula joins Alex Sherman for a wide-ranging conversation about professional tennis, athlete health, the WTA schedule, Grand Slam pressure and life inside one of America’s most prominent sports families. Fresh off another deep U.S. Open run, Pegula explains what helped her become an elite player later in her career and why learning to work smarter, stay healthy and manage her body became essential to her success.
Pegula also discusses one of the biggest issues facing professional tennis players: an increasingly demanding tournament calendar. As chair of the WTA Tour Architecture Council, she shares her perspective on mandatory events, two-week WTA 1000 tournaments, recovery time and the mental and physical toll of a season that stretches across most of the year.

The conversation also explores late-night U.S. Open matches, Pegula’s pursuit of a first major championship and the mindset she has developed after repeated runs into the second week of Grand Slams.
Beyond the court, Pegula talks about her family’s ownership of the Buffalo Bills and Buffalo Sabres, what she has learned from seeing professional sports organizations from an ownership perspective and whether she could become more involved with the organizations in the future. She also reflects on her mother’s serious health emergency and how tennis provided an important outlet during an extraordinarily stressful period.



Topics discussed include:
Jessica Pegula’s partnership with The Farmer’s Dog and her passion for canine health
How injuries and maturity helped Pegula reach another level in professional tennis
Late-night U.S. Open matches and potential scheduling changes
Managing the pressure of chasing a first Grand Slam title
The WTA Tour Architecture Council and concerns about the tennis calendar
Growing up in a family that owns the Buffalo Bills and Buffalo Sabres
What Pegula has learned about professional sports ownership
How her mother’s cardiac arrest affected Pegula and her family
Why Pegula describes professional tennis players as the “CEO” of their own teams
The Buffalo Bills’ new stadium and Pegula’s relationship with Josh Allen
How The Players Box Podcast began with Madison Keys, Desirae Krawczyk and Jennifer Brady
Madison Keys’ candid comments about the mental demands of professional tennis

Timestamps:
01:35 Maddie, Jessica Pegula’s dogs and The Farmer’s Dog partnership
05:18 How maturity, injuries and smarter training changed Pegula’s career
06:41 U.S. Open scheduling and the challenge of extremely late matches
08:34 Handling Grand Slam pressure and pursuing a first major title
09:55 WTA Tour Architecture Council and changes Pegula wants to see in the schedule
11:11 Growing up in the family that owns the Buffalo Bills and Buffalo Sabres
12:31 What Pegula has learned from the business of professional sports ownership
13:38 The future of the Bills and Sabres within the Pegula family
14:38 Pegula reflects on her mother’s cardiac arrest and how tennis helped her cope
16:01 Why elite tennis players operate like CEOs of their own traveling teams
17:17 Buffalo Bills’ new stadium and Pegula’s relationship with Josh Allen
18:23 How The Players Box Podcast grew out of a group chat among tennis friends
19:12 Madison Keys, mental fatigue and candid conversations about life on tour

Mentioned in the episode: The Farmer’s Dog, U.S. Open, WTA, WTA Tour Architecture Council, Buffalo Bills, Buffalo Sabres, Josh Allen and The Players Box Podcast.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Episode Summary
Stephen Curry discusses the Golden State Warriors’ championship ambitions, his approach to retirement, the future of Curry Brand, and his expanding business portfolio. He also shares how Underrated Golf is creating access for young players, why he chose Li-Ning, and where he sees opportunities across media, AI, basketball, golf, and women’s sports.

Episode Notes
Stephen Curry joins Alex Sherman at Bethpage Black for a wide-ranging conversation spanning basketball, business, golf, media, footwear, artificial intelligence, the WNBA, and the next stage of Curry’s career.
Curry explains how his experience as an overlooked three-star basketball recruit inspired the Underrated brand and its focus on opportunity, equity, and access. He reflects on the growth of the Underrated Golf Tour, including young golfers who have progressed from the program into college golf and PGA Tour opportunities.
The conversation also explores Curry Inc. and the portfolio Curry is building beyond basketball. Curry discusses Unanimous Media, his Eat. Learn. Play. foundation, the animated basketball film GOAT, and his ambitions across film, television, publishing, and podcasting.
Curry also goes inside his move to Li-Ning after entering footwear free agency. He describes testing products from multiple brands, wearing Jimmy Butler’s Li-Ning shoe in a game, and what attracted him to Li-Ning’s product quality, innovation, global ambitions, and willingness to invest in Curry Brand. He says work is underway on a new signature shoe, with hopes for a release in early 2027, while golf, lifestyle, and training products are also part of the longer-term vision.
On the court, Curry discusses the Golden State Warriors, the challenge of competing in a deep Western Conference, and his desire to remain in championship contention while helping the team establish a new identity. He addresses his health, his long-running partnership with Draymond Green and Steve Kerr, and why changing teams is not the path he is looking to take.
Curry also weighs in on the state of the NBA and WNBA, athlete recruitment for Curry Brand, partnerships involving Google, Gemini, and KPMG, and how young people can prepare for a world being rapidly reshaped by AI.
Finally, Curry talks candidly about retirement. While he says Father Time is always part of the equation, he still believes he can perform at a high level and describes a sense of urgency around making the most of the next two years.
Topics and timestamps:
02:05 Curry Inc., Unanimous Media and Eat. Learn. Play.
02:44 GOAT and future film and TV projects
03:46 Curry’s footwear free agency and move to Li-Ning
06:09 Golden State Warriors and championship contention
07:58 Curry, Draymond Green and Steve Kerr
08:41 Health and maintaining an elite level of play
09:12 Sponsorships, endorsements and business partnerships
10:02 AI, Google Gemini and preparing young people for technological change
10:36 Curry’s next signature shoe and plans for 2027
11:47 Curry on the state of the NBA
12:22 WNBA growth, visibility and leadership
13:15 Caitlin Clark, Paige Bueckers and Curry Brand athlete recruitment
13:52 Li-Ning’s investment in Curry Brand
14:17 Retirement, Father Time and Curry’s next two years

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Netflix Chief Content Officer Bela Bajaria explains how live sports, global events and local programming fit into Netflix’s evolving content strategy, while Jacksonville Jaguars owner Shad Khan examines rising NFL team valuations, stadium economics and international expansion. Together, the conversations reveal how streaming, live experiences and changing fan behavior are reshaping the business of sports and entertainment.

Episode Notes
The worlds of streaming, live sports and franchise economics are converging. In this episode, Bela Bajaria and Shad Khan offer two perspectives on how that transformation is playing out across Netflix, the NFL and the broader sports and entertainment business.

Netflix Chief Content Officer Bela Bajaria discusses the company’s growing focus on live programming and what turns a broadcast into an “unmissable event.” Rather than pursuing sports through a traditional rights strategy, Netflix is looking for cultural moments capable of generating conversation around the world. Bajaria points to NFL games on Christmas Day, boxing, the World Baseball Classic, the Home Run Derby, Alex Honnold’s Taipei 101 climb and a BTS concert in Seoul as examples of how Netflix thinks about event programming.

She also explains how Netflix combines its global distribution with locally produced content and country-specific marketing. The strategy remains opportunistic: Netflix can pursue established sports properties while also developing original events that take advantage of the platform’s global scale.

Shad Khan, owner of the Jacksonville Jaguars, turns to the economics powering the NFL. Khan discusses why he believes NFL franchises still have significant room to appreciate despite rapidly rising team valuations, citing the league’s competitive balance, financial structure and connection to local communities.

The conversation also explores the Jaguars’ stadium transformation and how modern venues are becoming year-round businesses. Khan describes plans to improve cooling, weather protection, premium seating, concourses, local food offerings and non-football programming while creating additional revenue for the team and Jacksonville.

Topics discussed include:
Netflix’s strategy for live sports and entertainment events
NFL games on Netflix and Christmas Day programming
Creating global cultural moments versus buying traditional sports rights
Netflix’s global reach and investment in local-language originals
NFL franchise valuations and the economics behind their growth
The Jacksonville Jaguars’ stadium redevelopment
Premium seating, fan experience and non-game-day stadium revenue
College football and other events as stadium revenue opportunities
The NFL’s international growth and the Jaguars’ presence in London
Streaming, broadcast television and the future of NFL media distribution
Fantasy football, RedZone and changing viewing habits
Fulham, Premier League economics and year-round venue development
NFL ownership rules, debt limits and private equity
What could drive future sports franchise valuations

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.