While Floyd Mayweather is in contact with the NBA to offer himself an NBA franchise, the Wall Street Journal reports that the league has received a first concrete offer to buy the Suns (and Mercury) put up for sale by Robert Sarver.
Two venture capitalists have made a $3 billion offer to buy the two franchises, and behind this proposal are Jack Selby, CEO of Thiel Capital, and Jason Pressman, CEO of Shasta Ventures.
The $3 billion offer could also include personal funding from Daniel Thiel, the founder of PayPal, whose pro-Trump stances have been widely talked about in recent years. According to the New York daily, other private investment funds and sovereign wealth funds, now authorized by the NBA, would be included in the proposal.
These investors would also have met the management of the Suns on Wednesday, and on the side of the franchise, Sarver has a priority: that the franchise remains in Phoenix.
“I think he really wants to find someone who loves Arizona, who wants to keep (the Suns) in Arizona and who is committed to the fans and the community.” reports Sam Garvin, Sarver’s right-hand man. The latter specifies that he does not want to become the majority owner of the franchise, but that he wishes, if necessary, to keep this role of leader.
“If I were to be part of the new group that buys it, I would want to have the same role, otherwise I would not be involved. I can help add value to it, improve the team, increase revenue, give the basketball industry more money to continue to have lasting success and get more players. But, I wouldn’t want to be the boss like Robert was”.
The Wall Street Journal says the NBA has received other buyout offers, and a second round is scheduled for January.
