Suns' Mat Ishbia, minority owners agree to mediation over 'personal piggy bank' claims

Lawsuit over funding and transparency dispute to be resolved through confidential binding mediation process

Mar. 16, 2026 at 3:18pm

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Mat Ishbia, the majority owner of the Phoenix Suns and Mercury, and two minority owners, Andy Kohlberg and Scott Seldin, have agreed to move their dispute over Ishbia's management of the franchises to a confidential binding mediation process. Kohlberg and Seldin had sued Ishbia, accusing him of lack of transparency and using the teams as his "personal piggy bank". Ishbia countersued, claiming the minority owners were seeking a large buyout of their stakes. The two sides will now resolve the case through mediation instead of continuing litigation in Delaware court.

Why it matters

The dispute between Ishbia and the minority owners highlights the challenges that can arise when new majority owners take over professional sports franchises, particularly around issues of transparency, financial management, and the buyout of pre-existing minority stakes. The resolution through mediation rather than a public court battle may help preserve the Suns' and Mercury's public image and allow the team to move forward under Ishbia's leadership.

The details

Ishbia bought the Suns from previous owner Robert Sarver in 2023 for a then-league record $4 billion. Sarver had been suspended by the NBA and fined $10 million following an investigation that found he had been discriminatory and created a hostile workplace. Kohlberg and Seldin were the only remaining minority owners from Sarver's tenure. Ishbia had initially offered to buy out their stakes when he took over, but the two sides disagreed on the valuation. Kohlberg and Seldin then sued Ishbia, accusing him of lack of transparency and using the franchises as his "personal piggy bank". Ishbia countersued, claiming the minority owners were seeking a large buyout. The two sides have now agreed to resolve the dispute through confidential binding mediation.

  • Ishbia bought the Suns from Robert Sarver in 2023.
  • Kohlberg first approached Ishbia to buy out his stake in September 2024.
  • Kohlberg asked Ishbia to respond by June 1, 2025.
  • Ishbia scheduled a capital call in June 2025, which Kohlberg and Seldin claim was an attempt to dilute their stakes.
  • Kohlberg and Seldin sued Ishbia in the summer of 2025.

The players

Mat Ishbia

The majority owner of the Phoenix Suns and Mercury, who bought the franchises from Robert Sarver in 2023 for a then-league record $4 billion.

Andy Kohlberg

A longtime minority owner of the Phoenix Suns and Mercury, who was part of the previous ownership group led by Robert Sarver.

Scott Seldin

A longtime minority owner of the Phoenix Suns and Mercury, who was part of the previous ownership group led by Robert Sarver.

Robert Sarver

The previous owner of the Phoenix Suns and Mercury, who was suspended by the NBA and fined $10 million following an investigation that found he had been discriminatory and created a hostile workplace.

Quinn Emanuel

The law firm representing Andy Kohlberg and Scott Seldin in their lawsuit against Mat Ishbia.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.