Selby, a longtime Valley resident, is the managing director of Thiel Capital, and Pressman heads the venture firm Shasta Ventures.
The NBA recently changed its rules on ownership, allowing for sovereign wealth funds, endowments and pensions to acquire passive stakes in teams. The Wall Street Journal’s report said that The Selby-Pressman team toured Suns facilities in early December. The report stated that there were several other offers made for the Suns and that second-round bids are due in January.
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