UPDATE: Phoenix Suns majority owner Mat Ishbia has officially countersued minority owners Scott Seldin and Andy Kohlberg, alleging they are demanding an “exorbitant premium” for their ownership shares. The lawsuit was filed Tuesday in Delaware State Court and intensifies a brewing conflict within the franchise.
According to the complaint obtained by ESPN, Seldin and Kohlberg are reportedly seeking a staggering $825 million for their shares, valuing the Suns at approximately $6 billion. This figure represents a significant 60% increase from the franchise’s valuation when Ishbia acquired controlling interest in 2023. The Suns assert that they are under no obligation to meet these demands.
In a letter sent to Seldin and Kohlberg in August, the Suns indicated their unwillingness to buy out the minority owners, stating, “Every investor had the choice at that point — sell at a premium or stay in and invest alongside him.” Ishbia’s spokesperson emphasized that the claim for a buyout far exceeds their initial investment, which was already over 20 times the original amount.
This countersuit comes on the heels of Seldin and Kohlberg’s lawsuit filed in August, which accused Ishbia of denying access to internal records. The ongoing legal battles have added tension to the Suns’ operations, marking the sixth lawsuit against the team since November 2024. Previous suits, primarily from current or former employees, have raised serious allegations of discrimination, retaliation, and wrongful termination.
During a recent appearance on ESPN’s NBA Today, Ishbia addressed the growing number of lawsuits, stating, “Anyone can file a lawsuit for any reason they want. How many lawsuits have we actually lost? The answer is zero.” He added that the organization does not settle easily and that they would continue to fight against what he termed as leverage tactics.
The escalating conflict reflects deeper issues within the Suns organization, stemming from the legacy of former owner Robert Sarver. As these legal disputes unfold, fans and stakeholders are left to ponder the future of the franchise and its leadership.
What’s Next: As the countersuit progresses, all eyes will be on the Delaware State Court for developments. The implications of these legal battles may not only affect the internal dynamics of the Suns but could also resonate throughout the NBA, as ownership conflicts become increasingly publicized.
Stay tuned for further updates on this developing story as it unfolds.
