DThe Detroit Pistons play professional basketball as part of the NBA, competing in the regular season and playoffs. Games are broadcast on TV and online and supported by in-arena experiences, with revenue coming from tickets, broadcasting rights, merchandise, and sponsor activations. They stand out because they are part of a global league with multiple revenue streams and a strong brand, benefiting from league-wide marketing and media deals as well as a loyal local and national fan base. The goal is to win championships and grow fan engagement while maximizing value for players, teams, networks, and sponsors through competition and content.
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Industries
Company Size
501-1,000
Company Stage
Acquired
Total Funding
$14M
Headquarters
Phoenix, Arizona
Founded
1974
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Total Funding
$14M
Above
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Funded Over
1 Rounds
Houston Rockets forward Kevin Durant and Phoenix Suns owner Mat Ishbia traded barbs on social media Saturday over Durant's time in Phoenix. The spat began after Ishbia told CNBC Sport he "threw money at the problem" when trading for Durant in 2023. He added that adding star players "doesn't necessarily lead to championships." Durant replied that he stayed on top of his game at 36 and helped build the "culture" Ishbia loves. Ishbia said Durant wasn't to blame, but that he was happy with the Suns' direction. Durant answered that Ishbia should be thankful he didn't have to pay him "an absurd amount of money" to play elsewhere. Ishbia bought the Suns for $4 billion in 2023. Phoenix reached the second round that year, was swept in the first round in 2024, and missed the 2025 playoffs. Durant was then traded to Houston.
Phoenix Suns owner Mat Ishbia said his mortgage company's financial troubles will have "zero" effect on his basketball operations. United Wholesale Mortgage reported a $450 million net loss in the second quarter this year. Despite this, the 46-year-old billionaire is working to purchase an additional 14% of the team, bringing his ownership stake to roughly 80%. Ishbia, who bought the Suns and Phoenix Mercury in 2022 for $4 billion, insisted the mortgage company's performance won't impact spending on players or fan experience. He noted UWM still employs 9,000 people and remains well-positioned going forward. The Suns finished last season 45-37 and return most of their roster.
City Kitch has won the sixth annual Hornets Innovation Summit presented by Bank of America, receiving a $25,000 investment. The company serves as a community resource for culinary entrepreneurship in Charlotte and Greensboro. The Innovation Summit recognises promising startups and provides funding to support their growth. City Kitch's platform supports food entrepreneurs through shared kitchen facilities and resources.
The NBA has received multiple bids exceeding $500 million, with some approaching $1 billion, for clubs in its proposed European basketball league, according to a source. More than 120 investors participated in the non-binding bid process that closed on Tuesday. The league plans to launch in autumn 2027 with 14 to 16 teams across 12 European cities, including London, Paris, Madrid, Barcelona, Rome, Milan, Berlin and Istanbul. It will operate as a distinct entity from the NBA, with 10 to 12 permanent members and remaining slots earned through qualification. The NBA will now review bids and select preferred partners with input from its Board of Governors. Team announcements are expected in stages. The league is also exploring collaboration with EuroLeague rather than competition, with discussions expected to resume soon.
/PRNewswire/ -- Trashie (www.trashie.io), the rewards-driven textile and electronics donation platform, today announced the acquisition of Savvy Search AI...
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Industries
Company Size
501-1,000
Company Stage
Acquired
Total Funding
$14M
Headquarters
Phoenix, Arizona
Founded
1974
Find jobs on Simplify and start your career today