The Suns and majority owner Mat Ishbia are being sued by two minority owners of the franchise, ESPN reported on Wednesday night.
Per the report the lawsuit was filed on August 21 by attorneys representing Kisco WC Sports II and Kent Circle Investments; minority owner Andy Kohlberg is the founder, president, and CEO of the former firm, while minority owner Scott Seldin is the president of the latter. Kholberg and Seldin are the only two minority owners who didn't accept a buyout when former owner Robert Sarver sold the team to Ishbia.
They allege Ishbia has refused them access to internal documents. Specifically the two claim they have not been able to get information on the franchise's expenditures and that Ishbia refused give any info on funding for the new $100 million practice facility built for the Mercury.
Ishbia purchased the Suns and Mercury from Sarver in 2023.
The attorneys representing the owners gave a statement to ESPN on the matter.
"Our clients sued to obtain records to which they are entitled as minority owners of the Suns. They are concerned by the manager's approach towards minority owners, and want more information about certain spending and capital raises in which the manager has engaged. Transparency with minority owners is not optional, and our clients think it is critical to the success of the Suns."
The Suns declined to comment.
More NBA on Sports Illustrated
This article was originally published on www.si.com as Suns, Mat Ishbia Sued by Minority Owners Over Internal Records Access.
