Robert Sarver Plans To Sell Phoenix Suns And Mercury After Racism Allegations

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Topline

Robert Sarver announced Wednesday he has begun the process of selling off his two professional basketball teams, the NBAs Phoenix Suns and WNBAs Phoenix Mercury, saying his ownership of the teams was no longer possible after an NBA investigation found he used racist language and fostered a hostile work environment.

Phoenix Suns and Mercury owner Robert Sarver attend Game Two of the 2021 WNBA Finals at Footprint … [+] Center on October 13, 2021 in Phoenix, Arizona.

Getty Images Key Facts

Sarver said he initially planned to use the suspension to focus, make amends and remove my personal controversy from the teams, but after fielding backlash including from NBA figures who said he received a lax punishment, Sarver realized whatever good I have done, or could still do, is outweighed by things I have said in the past.

Sarver said selling the teams is the best course of action for everyone.

He said Wednesday hes beginning the process of seeking buyers for the Suns and Mercury, but didnt specify any possible buyers.

Forbes Rating

We estimated the Phoenix Suns were worth $1.8 billion in October 2021, making them the NBAs eighteenth-most-valuable team. Sarver bought the franchise in 2004 for $401 million.

Key Background

The 10-month NBA investigation found Sarver used the N-word on at least three occasions while quoting others, bullied employees and made sexually charged comments to and about women. The probe was launched after ESPN published a report last year detailing the allegations, which Sarver denied at the time. His punishmentwhich required him to stay away from both teams operations for a year but didnt require him to sell either of themwas slammed by Lebron James and other players and officials, while the Suns vice chairman Jahm Najafi, the teams second-largest shareholder, called for Save to step down. PayPal said Friday the company would not renew its sponsorship agreement with the Suns if Server did not sell the team. While the specifics of PayPals contract with the Suns are unknown, jersey patch sponsors generally pay NBA teams between $5 million and $20 million per season.

Further Reading

PayPal Says It Wont Work With Phoenix Suns If Robert Sarver Keeps The Team (Forbes)

This Isnt Right: LeBron, NBA Figures Express Disappointment In Robert Sarver Punishment (Forbes)

Phoenix Suns Owner Robert Sarver Suspended And Fined $10 Million For Racist Language (Forbes)

Phoenix Suns Owner Robert Sarver Welcomes League Investigation Following Accusations Of Racism And Sexual Misconduct (Forbes)

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