AVANDATIMES.COM – The protracted legal battle over the ownership of the Phoenix Suns is nearing a resolution as majority owner Mat Ishbia and minority stakeholders Scott Seldin and Andy Kohlberg have agreed to enter confidential binding mediation. According to court documents filed Monday in Delaware State Court, the move is expected to result in the joint dismissal of the lawsuit that has shadowed the franchise’s front office for months.
Path to Near-Total Ownership
The mediation process provides a structured exit for Seldin and Kohlberg, the final two members of the ownership group remaining from the era of former owner Robert Sarver. Should the mediator determine a buyout price for their combined 13% stake, Ishbia is positioned to increase his majority holding to approximately 96%.
AvandaTimes observed that this development follows a period of escalating legal maneuvers. Attorneys for the minority owners previously suggested that Ishbia’s control of the NBA franchise was at risk, claiming his stake could have been diluted from 83.2% to 32.7% due to alleged procedural failures during capital calls.
A History of Friction
The dispute stems from a series of financial disagreements that began shortly after Ishbia acquired the Suns in 2023 at a $4 billion valuation. While 14 of the 16 original partners accepted buyouts at that time, Seldin and Kohlberg retained their interests, leading to a fractured relationship with the new leadership.
The conflict intensified in 2025 over two capital call raises totaling $250 million. Seldin and Kohlberg alleged that Ishbia “threatened the minority owners with a punitive dilution of their ownership interests” if they did not provide funding within a 10-day window. Subsequent litigation saw the minority owners accuse Ishbia of using the organization as a “personal piggy bank,” a claim the Suns’ majority owner has consistently denied.
Valuation and Legal Context
Internal communications revealed a significant gap in valuation expectations. While the team was valued at $4 billion in 2023, the minority owners reportedly sought a buyout of $825 million for their shares, which would imply a total franchise value of roughly $6 billion. The Suns’ management responded by stating they had no obligation to facilitate a buyout at such a premium.
The resolution of this case would close a turbulent chapter for the Suns, who have faced multiple legal challenges from various parties over the past year. On the court, the team continues its season with a 39-28 record as they prepare for a matchup against the Boston Celtics.