With mounting pressure from NBA franchise owners, fans, and players, controversial businessman Robert Sarver confirmed last week that he would sell his stake in the Phoenix Suns and Phoenix Mercury.
After a year-long investigation, the 60-year-old American businessman was found guilty of blatantly racist language, unfair treatment of female employees, sexual-related remarks, and cruel treatment of employees that "on occasion constituted bullying."
Don't Mess with 'JB'
The NBA has suspended Sarver for an entire season and fined him $10 million. Although he first refused suggestions to sell his shares, Robert Sarver has subsequently altered his mind. The real estate mogul recently announced that he would begin the process of selling his NBA and WNBA teams that caught the interest of big names.
There are notable names who are reportedly interested in purchasing Sarver's shares, including Phoenix Suns former superstars and basketball legends Charles Barkley and Shaquille O'Neal, according to Sports Illustrated. Shaq O'Neal, one of the greatest players in NBA history, mentioned his interest in buying the Suns on the most recent edition of his podcast, The Big Podcast With Shaq.
"The Big Diesel" said he was okay with the prospect of buying the franchise. Though, things turned around when he saw the initials "JB," which stands for Jeff Bezos, the founder of Amazon.
"Let me tell you something, you don't mess with James Brown, you don't mess with Jeff Bezos," Shaq remarked in the podcast episode.
The four-time NBA champion said he would not place his name in "the bucket" along with powerful entrepreneurs, like Jeff Bezos, that expressed interest in purchasing Sarver's shares. "When the lads get on stage, get your ass and go," Shaq noted.
According to reports, Oracle founder Larry Ellison is interested in buying the franchise, and so is Steve Jobs's widow, Laurene Powell Jobs, who owns minority ownership in the Washington Wizards worth 20 percent. Former Disney CEO Bob Iger also expressed interest in buying the franchise before the end of the recent NBA season.
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How Much is Jeff Bezos Net Worth 2022?
Forbes' Real-Time Billionaires rankings indicate that Jeff Bezos, the founder, and CEO of Amazon, is presently worth $138.2 billion, ranking third on the list. Given his massive wealth, there is a huge chance for him to be the next owner of Phoenix teams if he wants to.
It was recently estimated in December of 2021 that the Phoenix Suns value is at $1.92 million, as per an NBC Sports story citing information from Forbes and ESPN. The squad, which was among the top teams in the NBA last season, might reportedly sell for as much as $2.5 billion.
A big benefit for potential purchasers is that Sarver, as managing partner, supposedly has permission to sell the entire club even though he only owns 35% of the franchise. Disclosed sales of WNBA teams are less frequent than in the NBA. However, the going rate for a professional sports franchise is between $10 and $15 million.
The Mercury's precise asking price is unclear, although it's probably going to be a small fraction of the total. The identities of the wealthy individuals interested in purchasing the Phoenix Suns basketball clubs suggest that Sarver's exit from the franchises will not take long.
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