Sun, a minority owner looking for access access

Pair Phoenix Suns The owners of minorities who have been in the previous regime under the former owner of Robert Sarver, we sue the team, stating that the current owner of Suns Mat Ishbia rejected access to internal records, in line with a copy of the lawsuit, which ESPN received ESPN.

The lawsuit was submitted in Delaware 21. August under seal, and the redacted version was available on Wednesday. Lawyers who submitted it was Kisco Vc Sports II and Kent Circle investments. Andi Kohlberg is the founder, president and general manager of Kissac and Scott Seldin is the president of the partner Kent’s circle. Both men were minority owners under Sarver, who sold the sun and Mercury 2023. In the wake of the NBA investigation on Sarver’s behavior and culture of the workplace of the team.

Excavation was bought by 57% of the 2.28 billion dollar control, because then ESPN reported that Sarver sells its 37% stake for 1.48 billion dollars.

At the time of sale in 2023. year, 14 of the 16 partners in the SUNS owner group accepted the Ishbia offer worth four billion dollars. Kohlberg and Seldin were the only two they didn’t sell.

“Our clients sued the records they are entitled to as minority owners of Supers,” they wrote in a statement in the statement, written in a statement on Wednesday. “They deal with access managers towards minority owners and wanting more information about certain consumption and capital in which the manager hired. Transparency with minority owners is not optional, and our clients are crucial for the sun’s success.”

The Suns refused to comment on the lawsuit, sixtly against the organization since November 2024. years. The other five were of current or former employees. Some of their allegations include discrimination, retaliation, harassment and unfair termination.

In the appeal, lawyers representing Seldin and Kohlberg say that in September 2024. Kohlberg began to negotiate the purchase with the Ishbia advisor. Seldin, meanwhile, did not ask for the purchase. Kohlberga Talks continued until 2025. years, and asked the final response to June 1, lawyers said that Ishbia held a capital call next day, 2. June, to “put pressure and diluted” the sun.

In the appeal, lawyers representing Seldin and Kohlberg also say that they learned that Ishbija “may have entered undiscovered parties with other members (Suns), including lateral offers, including lateral offers.” They say they failed to obtain information about team expenditures and they asked a question with the funding of Mercury’s 100 million dollars, which presented the team in July 2024. years.

They say that Ishbia refused to provide any information about how the facility was financed, except to say that the team “in accordance with their duties in accordance with the agreement of LLC”.

On Tuesday, lawyers representing the sun and Ishbie sent a letter to ESPN, lawyers representing Kohlberg and Seldin.

In the letter, the sun say that Kohlberg and Seldin demanded the sun to buy a share of $ 825 million, which will set the team to a team of about 6 billion dollars when Ishbia bought his control interest for 2023. Years. The sun say they can’t bind them.

“You are not wrong, (Ishbia) does not intend to reduce or slow its investment in the company and its teams,” according to the letter. “Contrary to this, (Ishbia) will continue to do everything necessary to make a lasting effect on a greater influence on the greater phelenic community and improve the experience of fans. (Ishbia) is not afraid to expel and live in the continuation and remain scared.

“If your clients do not share these priorities, maybe they could be sold in accordance with the terms of the Agreement and Seldin, and sensationalized printing and not unjustified negotiations. This will not work. These sharp and abuse tactics.”