Robert Sarver intends to sells his share in the Suns and the Mercury but what did he say?
Following immense backlash, it would seem the pressure proved to be too much for the under fire franchise owner.
With the fallout continuing over his creation of a toxic workplace environment and his subsequent suspension, the beleaguered franchise owner has finally broken the silence by announcing his intention to sell it.
Suns Robert Sarver set to sell the franchise
According to his statement on Wednesday, Phoenix Suns owner Robert Sarver has indicated that he has begun the process to sell his stake in both the Suns and the Phoenix Mercury. The news of course comes following Sarver’s suspension and $10 million fine after the NBA completed an investigation into his inappropriate conduct in the workplace. Sarver’s statement alluded to a sense of shame as well as a desire to make amends, however, only time will tell as to how he and his intended move are received. Take a look for yourself:
“Words that I deeply regret now overshadow nearly two decades of building organizations that brought people together – and strengthened the Phoenix area – through the unifying power of professional men’s and women’s basketball. As a man of faith, I believe in atonement and the path to forgiveness. I expected that the commissioner’s one-year suspension would provide the time for me to focus, make amends and remove my personal controversy from the teams that I and so many fans love. But in our current unforgiving climate, it has become painfully clear that that is no longer possible – that whatever good I have done, or could still do, is outweighed by things I have said in the past. For those reasons, I am beginning the process of seeking buyers for the Suns and Mercury.”
Reaction to and road forward for Robert Sarver
It wasn’t long after Sarver announced his intention to sell the Suns and Mercury before the NBA itself gave a response. League commissioner Adam Silver, gave a statement in which he said “I fully support the decision by Robert Sarver to sell the Phoenix Suns and Mercury. This is the right next step for the organization and community.”
As for what happens now, there will likely be no shortage of potential buyers for the 35% stake that Sarver holds in the Suns. Regarding price, while it’s hard to give an exact number right here and now, we do know that when Sarver bought his stake back in April of 2004, he paid Jerry Colangelo $401 million for it. In case you’re wondering, the Suns are currently worth $1.8 billion according to Forbes which isn’t a bad return on investment to say the least. With reports, calling the franchise “extremely desirable,” it shouldn’t be long before a suitor comes to the fore.
Selling points of the Phoenix Suns
To be clear, the Phoenix Suns have been among the best teams in the league over the last two seasons. Following a NBA Finals appearance in 2021, the Suns also finished this past season with the best record in the league. Where their roster is concerned, you’ve got the likes of Devin Booker who is truly a rising star and then there is also the agreeable weather and close proximity to Los Angeles. In keeping with that, don’t be surprised if Sarver’s departure heralds the arrival of a slew of free agents in the near future.