Phoenix Suns and Mercury owner Mat Ishbia announced to staff Thursday he is investing more than $100 million in a new practice facility for the Mercury and an adjoining downtown headquarters for the teams.

"We want to have one of the greatest sports organizations in the world," Ishbia told ESPN. "And to do that you have to invest in the people."

The Mercury's new facility will span 58,000 square feet and have two courts, 10 baskets, a fitness center, hydrotherapy facilities, a film room and an expansive locker room and family lounge, plus a kitchen with a dedicated chef.

Because it will be part of the renovation of an existing warehouse located about three blocks from the Footprint Center, Ishbia is planning to have the facility ready for the start of the 2024 WNBA season.

"I don't like things that take two years. We're going to do it right, and we're going to do it fast," Ishbia said. "It's going to be a special place for the Mercury."

The Mercury currently share a practice facility with the Suns located in East Phoenix that opened in 2021 but is a little cramped with the two teams. Currently among WNBA teams, only the Seattle Storm and Las Vegas Aces have their own practice facilities.

The new Suns and Mercury headquarters will be 63,000 square feet and feature employee amenities including indoor and outdoor basketball courts, an arcade, a pickleball court, a putting green, workout facilities and a kitchen. Also planned is a team shop and a visual presentation of the Suns' and Mercury's rings of honor.

Moving the teams' offices out of the Footprint Center will open up space for new fan experiences and services on game nights. The arena, which opened in 1992 and was last renovated in 2020, is one of the NBA's smallest by square footage.

Ishbia, who purchased the teams in February from previous owner Robert Sarver, said he is hoping the new building will help reset the organization's culture.

"We want to have a great culture for all of our employees," Ishbia said. "And a place that players want to play."