Mat and Justin Ishbia are bidding for Broncos
Of the five non-finalist finalists to purchase the Denver Broncos, three groups previously were known. Two were not.
One of the previously unknown groups is led by Mat and Justin Ishbia, according to Mike Klis of 9News.com.
Mat Ishbia was a member of the 2000 Michigan State basketball team that won a national title.
A five-foot, 10-inch point guard, Ishbia averaged 2.4 minutes and 0.6 points per game during three seasons with the Spartans. After coaching for a year with Michigan State, Ishbia joined the family business -- United Wholesale Mortgage (UWM) company. He has served as president and CEO since 2015.
Justin Ishbia is the managing partner and a founding partner of Shore Capital, a private equity firm.
Per Klis, the Ishbias recently visited the team facility, as have groups led by Walmart heir Rob Walton and 76ers co-owner Josh Harris. Mat Ishbia would be the controlling owner, which means that he would have to be able to purchase 30 percent of the equity by himself.
The Broncos hope to complete the sale before the start of the regular season. The final price eventually is expected to exceed $5 billion.