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Phoenix Suns Minority Owners Sue Mat Ishbia, Claim Mismanagement, Fraud
Minority owners accuse Ishbia of self-dealing, withholding records, and pressuring with capital calls amid ongoing legal disputes over Suns management.
- On Monday, a Delaware State Court filing made public alleges Mat Ishbia mismanaged the Phoenix Suns franchise, with minority owners Scott Seldin and Andy Kohlberg claiming misconduct and personal use of the team.
- Earlier this year, Scott Seldin and Andy Kohlberg sued after alleging Mat Ishbia held a capital call on June 2, 2025 to pressure and dilute their ownership and denied them record access.
- Among the detailed claims are conflicts including an above‑market loan, sale of arena rights to United Wholesale Mortgage, leasing the Mercury practice facility, and creation of Player 15 Group, with the owners denied funding details for a $100 million facility.
- Last month, Ishbia countersued and his spokesperson called their lawsuit `This isn't a lawsuit; it's a shameless shakedown dressed up as legal process`, while the filing warns Ishbia's ownership could be jeopardized if failures are proved.
- At the time of the 2023 sale, Mat Ishbia bought a 57% controlling stake for $2.28 billion, 14 of the 16 partners accepted a buyout at a $4 billion valuation, and Robert Sarver sold a 37% stake for $1.48 billion.
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12 Articles
12 Articles
Coverage Details
Total News Sources12
Leaning Left4Leaning Right0Center3Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 43%
Factuality
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