The Phoenix Suns reportedly have found a buyer to purchase the embattled franchise months after current team owner Robert Sarver was suspended for a year and fined $10 million.

Billionaire mortgage lender executive Mat Ishbia and the Suns are finalizing the purchase, which would include the WNBA’s Phoenix Mercury, ESPN reported Tuesday. The deal is set to be worth about $4 billion. Ishibia was said to be interested in purchasing a sports franchise in recent years.

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A close up view of the Phoenix Suns logo during the game against the Orlando Magic on November 10, 2017 at Talking Stick Resort Arena in Phoenix, Arizona.  (Michael Gonzales/NBAE via Getty Images)

Ishibia is the CEO of United Wholesale Mortgage. He has been lauded for his role in growing the company from 12 people to about 7,000 and bringing in nearly $108 billion in mortgage originations, according to his profile on the company website. According to Forbes, his net worth is just around $5.1 billion.

Sarver was suspended for one season and fined $10 million following the NBA’s investigation into claims he ran a toxic environment of racism and misogyny.

The NBA said in a statement an independent investigation found Sarver "engaged in conduct that clearly violated common workplace standards, as reflected in team and League rules and policies.  This conduct included the use of racially insensitive language; unequal treatment of female employees; sex-related statements and conduct; and harsh treatment of employees that on occasion constituted bullying."

Apr 19, 2022; Phoenix, Arizona, USA; Phoenix Suns owner Robert Sarver against the New Orleans Pelicans during game two of the first round for the 2022 NBA playoffs at Footprint Center. (Mark J. Rebilas-USA TODAY Sports)

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The initial allegations came to light in an ESPN report last year.

NBA Commissioner Adam Silver brushed off calls to force Sarver to sell the team. Sarver would later come to his own conclusion to explore the sale.

Word of the agreement came a day after more Suns executives were accused of fostering a toxic workplace culture, including CEO and president Jason Rowley.

May 8, 2022; Dallas, Texas, USA; Phoenix Suns guard Chris Paul (3) reacts to receiving his sixth foul call and fouling out of the game against the Dallas Mavericks during the fourth quarter during game four of the second round for the 2022 NBA playoffs at American Airlines Center. (Jerome Miron-USA TODAY Sports)

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Phoenix is currently No. 3 in the Western Conference with a 19-12 record. The team made it to the NBA Finals in 2021 only to lose to the Milwaukee Bucks.