Suns Owner Being Sued

Phoenix Suns owner Mat Ishbia is being sued by two minority owners within the organization for "refused access to internal records," according to legal documents.

From ESPN:

"The lawsuit was filed in Delaware on Aug. 21 under seal, and a redacted version was made available Wednesday. The attorneys who filed it represent Kisco WC Sports II and Kent Circle Investments. Andy Kohlberg is the founder, president and CEO of Kisco Senior Living, and Scott Seldin is the president of Kent Circle Partners. Both men were minority owners under Sarver, who sold the Suns and Mercury in 2023 in the wake of an NBA investigation into Sarver's conduct and the team's workplace culture."

Ishbia - after assuming control of the organization - allegedly offered to buyout any of the 16 other partners. 14 did so, but two didn't - Kohlberg and Seldin.

In documents obtained by Front Office Sports, attorneys representing the minority owners, who claim they've been given the run-around when it comes to certain funding aspects of the operation, said the following:

"Our clients sued to obtain records to which they are entitled as minority owners of the Suns," they said in a statement.

“They are concerned by the manager’s approach towards minority owners, and want more information about certain spending and capital raises in which the manager has engaged. Transparency with minority owners is not optional, and our clients think it is critical to the success of the Suns.”

Questions regarding how the Mercury's practice facility was funded and potential side deals made by Ishbai with other investors are also highlighted by Kohlberg and Seldin's concerns.

The Suns fired back with a letter sent to their legal representation:

“Resorted to threatening baseless litigation and sensationalized press coverage as a means of intimidating and coercing [Ishbia] into unprincipled and unjustified buyout negotiations," it read per FOS.

“That will not work. [Ishbia] will not be bullied by these sharp and abusive tactics.”