Phoenix Suns Ownership Dispute: Mediation Process to Determine Ishbia's Majority Stake
The legal dispute between Phoenix Suns owner Mat Ishbia and two minority owners is moving towards a confidential binding mediation process, where Ishbia may purchase the minority owners' 13% stake at a mediator-determined price. The lawsuit, initiated by Scott Seldin and Andy Kohlberg in November 2025, could potentially result in Ishbia acquiring a majority ownership stake of about 96% in the franchise. The ongoing legal battle has now led to an agreed-upon stipulation for a joint dismissal of the lawsuit, as per a recent court filing in Delaware State Court.
Ishbia's majority ownership of the Suns could be solidified through the buyout of Seldin and Kohlberg's shares, removing the last remnants of the previous ownership group under Robert Sarver. The potential resolution of the lawsuit signifies a significant development in the ownership structure of the Phoenix Suns, with Ishbia poised to increase his control over the franchise.
Representatives for Ishbia and the minority owners have refrained from commenting on the latest legal proceedings. However, it is known that Ishbia had been engaged in discussions with Seldin and Kohlberg regarding the buyout of their shares even before the litigation commenced. The mediation process could bring closure to the contentious legal battle and pave the way for Ishbia to consolidate his ownership of the Suns.
The legal dispute between Ishbia and the minority owners has been marked by a series of lawsuits and negotiations, with allegations of financial misconduct and ownership disputes. The potential resolution through mediation offers a path towards a mutually agreed-upon settlement that could reshape the ownership landscape of the Phoenix Suns.