The Suns already have their first potential buyers

The Phoenix Suns are looking for a new owner. The highest representative robert sarverwhich in its portfolio also has the Royal Majorca, will sell the franchise after the scandal for abusive and racist behavior with its employees. He owns 35% of an entity valued at $1.8 billion, which includes the WNBA’s Phoenix Mercury. Potential buyers already include Jeff Bezos, founder of Amazon, or Robert Iger, former CEO of Disney, according to ‘ESPN’, the network that promoted the investigation into Sarver with a report published in November last year.

A flight of sponsors, led by threats from PayPal, and the rejection of the world of American sports, led by stars such as LeBron James or Chris Paul, led Sarver to the decision to divest from a franchise that he had directed since 2004. Buying their quotas will cost more than 600 million dollars. His departure was celebrated by LeBron James, happy to help the NBA build a healthier work environment, and also by the commissioner of the American league, Adam Silver, who considered this step necessary “for the franchise and the community ».

The Suns will avoid millionaire losses in sponsor money. PayPal, which pays three million a year to the team, threatened not to renew the contract if Sarver had remained in charge; the technology platform, the Philippine rum Tanduay Asian Rum and the scientific company Footprint, which bears its name in the stadium, are other brands that finance the entity and that could be affected by the scandal.

One of the most competitive teams in the current NBA, still with the thorn of winning a championship ring, the Suns are valued at 1,800 million dollars, according to estimates by ‘Forbes’, which placed them in 18th position among the franchises most valuable in the league. According to these numbers, acquiring the percentage of the Suns and the Mercury that belonged to Sarver will cost about 630 million dollars. Despite being far from the podium of the most valuable franchises in the NBA, in a classification led by the New York Knicks (5.8 billion), Golden State Warriors (5.6 billion) and Los Angeles Lakers (5.5 billion), the Arizona entity represents an important business opportunity, with the challenge of crowning the project with a ring.

The Suns have been competing at the top of the NBA for years. Only Greek Giannis Antetokounmpo’s Milwaukee Bucks denied them glory in the 2021 Finals and in the last campaign Monty Williams’ men had the best balance of the regular season (64-18), before falling against the Dallas Mavericks in the Western Conference semifinals. The next owner will have the challenge of guiding the franchise towards the last step to crown a sports project in which Devin Booker is the brightest star and in which veteran Chris Paul, at 37, wants to put the finishing touch on his race.

An investigation started in November 2021 and that collected the statements of more than seventy workers and former employees of the franchise showed that Sarver had a racist and sexist behavior, within a work environment considered “toxic”. The NBA inflicted on Sarver a one-year suspension and a fine of ten million dollars, the maximum sanction provided for by the internal rules of the league, although this measure was received by many critics, as it was considered insufficient.

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The Suns already have their first potential buyers