Phoenix Suns owner Mat Ishbia and two of the team’s minority owners are heading to a confidential, binding mediation that could reshape the franchise’s ownership structure.
The mediation involves Ishbia and the two minority partners who collectively hold a 13% stake in the Suns. The proceedings are described as confidential and binding, with the potential outcome that Ishbia would buy out that minority stake.
What it could mean for the Suns
If Ishbia were to acquire the minority owners’ shares, it would increase his overall ownership position in the organization. No additional details about the timing, terms, or specific issues at the center of the mediation were disclosed.
The Suns have been operating under Ishbia’s leadership since he became the franchise’s controlling owner, and this mediation represents the latest development involving the team’s ownership group.