Mat Ishbia emerges victorious in The Great NBA Mortgage Company War.
In a groundbreaking move, the NBA revealed a groundbreaking multi-year collaboration with United Wholesale Mortgage (UWM) on Thursday. Under this agreement, Mortgage Matchup, UWM’s consumer-facing arm, will assume the esteemed position of being the official mortgage partner for both the NBA and the WNBA. This historic alliance marks the inaugural mortgage partnership for these esteemed leagues.
At the helm of UWM stands Mat Ishbia, the astute owner of the Phoenix Suns. His company’s ascension to this pivotal role amplifies the longstanding rivalry with Rocket Mortgage, helmed by none other than Dan Gilbert, owner of the Cleveland Cavaliers.
However, beyond the corporate rivalry lies a personal feud between Ishbia and Gilbert, both alumni of Michigan State University. Their contentious history has seen numerous clashes, not only in the boardroom but also on a deeply personal level, as documented extensively elsewhere. Recently, Ishbia even took to publicly airing his grievances against Gilbert, further stoking the flames of their rivalry.
With UWM’s newfound partnership with the NBA, the stage is set for their advertisements to grace the screens during nationally-televised Cavaliers games in the upcoming season, a development not lost on keen observers like Mike Vorkunov of The Athletic.
This, of course, means that we could see UWM ads during nationally broadcast Cavaliers games next season. The Cavs are owned by Dan Gilbert, who has his own mortgage company and he is a longtime rival of Ishbia. https://t.co/qeJC7n1iMt
— Mike Vorkunov (@MikeVorkunov) May 16, 2024
The extent of Gilbert and Rocket Mortgage’s involvement in the competition to secure the NBA’s official mortgage partnership remains uncertain. However, it’s evident that Gilbert might not be pleased with the outcome, given that the title ended up in the hands of his rival, Ishbia, and UWM.
