Saturday, June 3, 2023

Robert Sarver sold the Phoenix Suns and Mercury

Stage end as Robert Sarver, co-owner of RCD Mallorca in the NBA and owner of the NBA’s Phoenix Suns and Phoenix Mercury. According to US media reports, Sarwar handed the franchise over to millionaire Matt Ishbia, a former college league player who won the title in 2000 and made his fortune as a loan shark.

Although the transfer is not yet official, as it must be endorsed by the owners of the remaining 29 franchises, the change in ownership is considered a fact. Sarwar has been in charge of Surya for the last 18 years. The business must have been significant as he bought Sun for 400 million and sold it for 4,000 million, a record sale. But it has paid a heavy price in slander and social disapproval. Some of the Sun’s sponsors threatened to leave the franchise if Sarwar did not quit. It has been at the end of his phase during these 18 years that the closest he came to getting the dream ring was against the Bucks in the final two seasons ago, winning 2–0 and losing 4–2. Were. ,

Banker’s departure was only a matter of time after the NBA sanction, a one-year suspension and a $10 million fine for misconduct. Sarver was heavily criticized by some stars such as LeBron James or even his teammates such as Chris Paul, after learning of the NBA report, the result of a nearly year-long investigation by a law firm. The said report spoke of misconduct, abuse of authority and inappropriate language, accusing him of creating a poor work environment. Following acceptance, Sarwar announced his intention to sell on 21 September, while Ishbiya had been trying to acquire a franchise for some time.

It all started with journalistic information, which gathered testimony against Sarwar for abusing authority and creating a poor working environment, though very few stood up to his charges, a case that dotted the image of the league. , That was going to be the reason for the NBA move tab. , The NBA launched an independent investigation by a law firm that had been interviewing current and former employees for nearly a year. Sarwar has always defended that although he is furious, many of those allegations were taken out of context or exaggerated.

Following the NBA’s approval, RCD Mallorca’s president, Andy Kohlberg, immediately made it clear that Sarver is now a minority partner, that nothing reflected in the NBA’s report happened in Mallorca, and that he was never aware The behavior was not as described.

Sun’s new owner, Matt Ishbia, is, according to Gigantes magazine, “chairman and CEO of United Wholesale Mortgage, the largest mortgage company in the United States. It is valued at just over $4.9 billion, according to Forbes.” (about 4.5 billion euros) owns 71% of the company, which was founded by his father. His brother Justin, owner of the other 22%, is also a billionaire and would be the one who would act as governor at league meetings in Matt’s absence. may come.”

Times of National
Times of National
Times of National To give more information about the latest happenings, news related to happenings in the country and abroad a casual understanding of the latest technology products and gadgets, celebrity news and gossip, latest movie news, sports, and cricket scores all you need Always ready to fulfill whatever else is becoming a part of our life nowadays.
Latest news
Related news


Please enter your comment!
Please enter your name here