What is happening yet again with the Suns Ownership?
The saga of ownership drama continues in the valley with the new Phoenix Suns owners. It all goes back to 2021, then the owner was Robert Sarver. An investigation spearheaded by the NBA, found Sarver had been using racist language to employees and misconduct of treatment of employees.
The NBA suspended and fined Robert Sarver $10 million dollars and was forced to sell both teams in 2022. Matt and Justin Ishbia purchased the Phoenix Mercury and Phoenix Suns from Robert Sarver.
Two minority owners who are still there from the Sarver era, Seldin and Kohlberg have recently filed a lawsuit against the Suns organization. This stems from back in 2024 when both gentlemen had requested a buyout that was denied.
Since, both men are saying that Ishbia has refused to allow them access to internal financial records, according to ESPN and The New York Times. Seldin and Kohlberg are claiming that Ishbia is using the team as his "personal piggy bank", one example is leasing the WNBA practice facility to himself.
Now Ishbia is countersuing and denies of any wrongdoing or mishandling of finances.
If the court sides with the minority owners, this could drastically change the power structure amongst the organization. Giving Seldin and Kohlberg a majority stake if again they can win the lawsuit.
Even if they do not win and the minority owners are awarded a buyout or payout for damages; this would affect the organization with player contracts amongst other financial responsibilities.
It is now going to be harder for the Suns or could be with sponsors and long term deals when so much money is involved and to many unknowns.