While allegations of racism and misconduct toward women against Sarver were the primary factors that led to NBA commissioner Adam Silver’s decision to suspend Sarver for a year, a report from ESPN’s Baxter Holmes and Ramona Shelburne details the different sources of pressure that led Sarver to decide to sell his stake in the team.
As previously reported the Phoenix Suns owner had been accused of abusing a lot of the team mates and verbally assaulting them.
His Actions Have Cost The Team In More Ways Than One
Verizon Wireless and Footprint, two companies who have name stakes on the Suns home arena and practice facilities, were considering ending endorsement deals with the team following in the footsteps of jersey patch partner, PayPal.
While Forbes last season valued the Suns at $1.8 billion — Sarver bought the team in 2004 for $401 million — the sale price could be much higher. Shelburne believes the Suns could be sold for up to $4 billion.