I Phoenix Suns are in for sale for several weeks after the scandal that engulfed the owner Robert Sarver.
There have been several rumors in the United States about possible buyers, but now it seems that a real offer has arrived in recent days. Presenting it are two investment funds that have decided to collaborate in the deal. They are Shasta Ventures and Peter Thiel’s Thiel Capital. Representing you in the transaction Jack Selby, founder of PayPal, jersey sponsor of the Suns.
He and other representatives of the two companies met with James Jones, current president of the franchise, submitting an official bid from 3 billion dollars. Sum that would grant control over the Suns and also over the WNBA team, the Mercury. Recall that at the moment the sale mandate is in the hands of the New York-based bank Moelis, in the person of co-founder Navid Mahmoodzadegan. So far there had been many interlocutions and expressions of interest but no official offer had ever been reached.
Initially Sarver had intended to collect over $4 billion but it is possible that the franchise’s price tag, as the months went by, was lowered. Here then is where Selby and co.’s offer may become the right one for the handover.
