Sarver backlash continues: PayPal considers leaving, co-owner wants to find new majority shareholder - Phoenix Business Journal

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A major sponsor of the Suns says it won't renew if Sarver comes back. phoenix

was reportedly worth $3 millionPayPal’s statements come after Jahm Najafi, a co-owner of the Suns, called for Sarver to resign and sell his portion of the team.

to Suns employees and players, Najafi said that Sarver’s behavior would have gotten any other CEO, teacher, coach or person in leadership fired. He thinks the same should happen to Sarver.‘owns’ the team does not give him a license to treat others differently than any other leader,” Najafi wrote. “Team investors are merely temporary stewards.

While Najafi has been a minority shareholder of the Suns for a number of years and has investments in several other sports businesses including McLaren Racing and several European soccer clubs, he said he doesn’t want to be managing partner of the Suns. “I will work tirelessly to ensure the next team steward treats all stakeholders with dignity, professionalism and respect,” Najafi wrote.

If Sarver decides or is forced to sell the team, he could still do well financially. Sarver acquired the Suns in 2004 for $404 million. In the fall of 2021, Forbes estimated that the teamAllegations against Sarver were first made public in November 2021 in an article published online by ESPN. Following that reporting, the NBA hired an independent investigator to look into Sarver.found that Sarver repeated the N-word on at least five separate occasions to employees.

 

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