Chances of Phoenix Suns Ownership: Leading Candidate to Succeed Robert Sarver?
After nearly twenty years, the Phoenix Suns will be under new ownership as Robert Sarver revealed on Wednesday his intention to sell the team.
Sarver received backlash for multiple incidents outlined in an ESPN investigation from November, including making offensive comments based on race and gender, and creating a toxic workplace atmosphere.
Fans in Phoenix and nationwide were closely watching as the NBA handed out a yearlong suspension and a $10 million fine last week. This news was of particular interest to many in the Arizona sports betting community.
In a historic moment for the NBA, Tucson native Sarver bought the franchise from long-time Valley figure Jerry Colangelo in 2004 for a record-breaking $401 million.
Sarver clearly saw a substantial return on his investment, as Forbes valued the franchise at $1.8 billion in 2021.
Who will own the Suns in the future?
Yengols.com assessed possible new owners and established estimated probabilities for each one.
Let’s explore the possible fourth owner of the Suns, starting from the team’s debut in the NBA in 1968.
Chances of replacing Robert Sarver
How Jahm Najafi Earned the Top Position
Najafi’s qualifications make it clear that he has the potential to be the first Iranian-American to own a professional sports team, with a net worth of $3.5 billion and his position in the Suns’ ownership group.
Najafi, the main minority shareholder in the franchise, recommended earlier this month that Sarver should consider selling the team.
Given his deep connections to the Phoenix community and unwavering commitment to building on the Suns’ recent achievements, Najafi is the ideal choice to follow in the footsteps of Karl Eller, Colangelo, and Sarver as the team’s owner.
It is logical to assume that Najafi would aim to lead a team vying for the league title in Arizona NBA betting.
The Garcia family is expected to be competitive bidders.
It would be logical to assume that the future owner of Arizona’s NBA team should have a strong tie to the state of Arizona.
It wouldn’t be surprising to see a celebrity with deep ties to the Valley, such as the wealthiest family in the state, taking over for Sarver.
Forbes reports that the Garcia family, consisting of Ernest Garcia Jr. and Ernest Garcia III, has a net worth surpassing $8 billion. With a long-standing presence in the Phoenix area, they are viewed as top candidates to acquire ownership of the Suns.
Winning their first NBA title as the owner of the Suns would be a significant accomplishment for anyone.
BetMGM in Arizona is currently offering the Suns at +1000 odds to win the NBA championship, ranking them just below the Boston Celtics (+500), Golden State Warriors (+600), Milwaukee Bucks (+650), Brooklyn Nets, and Los Angeles Clippers (all at +700).
Meanwhile, Caesars Arizona is offering the Suns at +1000 odds.
Who else is interested in ownership?
The rejection of Byron Allen’s bid to purchase the Denver Broncos in favor of Rob Walton’s $4.65 billion offer has put him on the radar as a promising entrepreneur to follow, especially in the context of becoming the first Black NFL owner.
With a robust network of business connections and an estimated net worth of around $500 million, Allen is poised to become a formidable candidate in the race to acquire ownership of the Suns, driven by his deep passion for owning professional sports teams.
Furthermore, be on the lookout for prominent Valley sports personalities such as former Cardinals receiver and Suns shareholder Larry Fitzgerald Jr. and Suns legend Charles Barkley, who may be potential public faces of a joint ownership group.
Other notable Phoenix figures who should be acknowledged by the Suns are the legendary rock star Alice Cooper, the golf phenom Phil Mickelson who graduated from Arizona State University, and the famous chef Guy Fieri, a dedicated Suns supporter despite being located in California.
At present, the only certainty regarding the Suns is that a new leader will be taking the reins of the franchise for the first time in 18 years.
Be sure to stay updated on the latest developments in this story and other important sports news by visiting yengols.com. You can also find exclusive promotions from the top Arizona sportsbooks on our website.
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Author
Peterson Christopher has been reporting on sports and sports betting in Arizona for more than seven years. His expertise comes from his time at ArizonaSports.com, the Tucson Weekly, and the Green Valley News. Currently, he serves as the chief writer at yengols.com.
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