How the Phoenix Mercury went from rebuild to championship-bound

The Phoenix Mercury are set to face off against the Las Vegas Aces in the WNBA Championship. Julia Lopez explains what to expect in the exciting matchup.
Published: Oct. 3, 2025 at 6:43 AM MST|Updated: Oct. 3, 2025 at 10:32 AM MST

PHOENIX (AZFamily/AP) — A rebuild isn’t a new concept to Arizona sports teams, but the Mighty Mercury have defied expectations and now have their sights set on hoisting the fourth championship in team history.

The Mat Ishbia Era Begins

But how did we get here? Mat Ishbia bought the NBA’s Phoenix Suns and the Mercury for roughly $4 billion, finalizing the deal in early 2023. Since then, he’s poured money into both teams, and his investment into the Mercury has paid off quickly.

In 2023, under new owner Ishbia, now-former head coach Vanessa Nygaard was relieved after 12 games into the season. The team finished with an abysmal 9-31 record, something similar to the Diamondbacks’ 2021 season, where the Snakes finished with 110 losses.

Phoenix went on a seven-game losing streak, eliminating them from playoff contention for the first time since 2012, all while ending the longest active playoff streak in the WNBA at 10 straight years. The team finished the season on an 11-game losing streak, and the 31 losses were the most in a season in franchise history.

Changes didn’t stop at just the coaching and player level, however. Longtime general manager Jim Pitman, who had held his position since 2013, resigned at the end of the season. Pitman was replaced by former Golden State Warriors special assistant and executive Nick U’Ren for the 2024 season.

New Coach, New Roster

Head coach Nate Tibbetts took over leading the Mercury for the 2024 season. The roster underwent a complete revamp, with Kahleah Copper, Rebecca Allen and Morgan Bertsch, all being traded to the Mercury. Phoenix also signed free agent veterans Natasha Cloud, Natasha Mack and Monique Billings.

Copper quickly became a standout that season and led the team in points per game, all while under the guidance of seasoned veterans Brittney Griner and Diana Taurasi. Cloud also became a force to reckon with, becoming the team leader in assists.

However, an up-and-down season led to the Mercury finishing with a record of 19-21, but just enough for them to squeeze into a playoff spot as a seven seed.

In the First Round of the playoffs, the Mighty Mercury faced off against the No. 2 Minnesota Lynx. On the road in Minnesota, the Mercury were eliminated 2-0 in the series. Despite the early playoff loss, the team more than doubled their season wins from the previous year.

Defying the Odds

Despite the success from the 2024 season, Ishbia and the Mercury’s front office decided to take part in a massive offseason trade. In a four-team trade, Phoenix acquired Alyssa Thomas, Satou Sabally, Kalani Brown and Sevgi Uzun. Cloud was traded to the New York Liberty, and Rebecca Allen was sent to the Chicago Sky. Fan-favorite Sophie Cunningham was also part of the trade, going to the Indiana Fever.

Mercury legend Taurasi called it a career after 20 storied seasons. Then, in a stunning free agency move, Griner joined the Atlanta Dream after spending 11 seasons with the Mercury. Only two players returned from the 2024 squad: Copper and Mack.

Without the two veterans and only two returning players, Phoenix didn’t open the season as early favorites. However, the desert attracted players like Sabally and Thomas.

Copper said word is out around the WNBA that Phoenix is one of the best places to play in the league. She wasn’t surprised when veteran players were so eager to come to the desert.

“The people, the access, the support staff,” Copper said. “We have a sports scientist, we have nutritionists, the list goes on and on. Those things are so important. Having success, being healthy, knowing what your body needs — it’s all for us to perform at the highest level.”

Said Tibbets: “(Ishbia) gives us everything we need. He’s involved, but he’s not over the top. And there are also expectations, which is good. I’m happy for him because he made a commitment and took a chance on me and others.

“Now we’re showing results, and we’re not done yet.”

Phoenix has defied all expectations, continuing a storybook championship run. The Mercury finished with a winning record of 27-17, led by MVP-candidate Alyssa Thomas. She led the team in rebounds, assists and steals, while Sabally led in points per game.

In mid-June, the Mighty Mercury went on a seven-game win streak. Despite some continuous losses in July, the team bounced back in August, snagging nine wins and only recording four losses for the month. Struggles down the September stretch led the Mercury a 3-2 record, but still enough to boost them into the playoffs as a 4-seed.

Sights Set On A Championship

Phoenix faced its first test - squaring off against the defending champs Liberty. The team dropped Game 1 in an overtime 76-69 loss on home court, despite 15 points from Copper. Storming into New York for Game 2, the Mercury dominated from the get-go, snagging a 86-60 win and evening the series. Coming back to Phoenix for Game 3 with elimination on the line, Thomas put up a triple-double, and Sabally recorded a double-double to send Phoenix into the semifinals.

The next challenge was the top-seeded Lynx; heavy favorites to take the championship. The Mercury dropped the first game in Minnesota, especially struggling from the 3-point line with 13% shooting. However, the Mercury snapped back in Game 2, erasing an early 20-point deficit to defeat the Lynx in a 89-83 overtime thriller.

Phoenix then took Games 3 and 4 on home court, sending them into the championship game against the Las Vegas Aces. In Game 4, Minnesota was without head coach Cheryl Reeve after she was suspended in the previous game for comments made about the officiating. The Lynx were also missing All-Star Napheesa Collier in Game 4 after she was injured in the closing seconds of Game 3.

Phoenix will play in the Finals for the first time in four years and try to win its first championship since 2014. Game 1 tip-off is at 5 p.m. on Friday.

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