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.