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Phoenix Suns Minority Owners Sue for Transparency After Sale

8/28/2025

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Summary

Story summary

Minority owners of the Phoenix Suns are suing Mat Ishbia for access to internal records, citing transparency issues.
The lawsuit, filed on August 21, follows Ishbia's $2.28 billion acquisition of a controlling stake in 2023.
Allegations include potential undisclosed side deals and concerns over funding for a $100 million practice facility.
The Suns assert they are not required to buy out minority owners and will not be deterred by legal threats.

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Story summary

Minority owners of the Phoenix Suns are suing Mat Ishbia for access to internal records, citing transparency issues.
The lawsuit, filed on August 21, follows Ishbia's $2.28 billion acquisition of a controlling stake in 2023.
Allegations include potential undisclosed side deals and concerns over funding for a $100 million practice facility.
The Suns assert they are not required to buy out minority owners and will not be deterred by legal threats.