The Phoenix Suns could be set up for a record-breaking purchase price.
Veteran NBA reporter Marc Stein wrote this week in a post to Substack that multiple experts in sports team valuations would not be surprised if the Suns hit the $4 billion threshold in a potential sale.
For context, the current record for biggest sale of an NBA team was set in 2019 when Joe Tsai purchased the Brooklyn Nets for a total of $3.3 billion. In more recent years, the Utah Jazz and the Minnesota Timberwolves (two smaller-market teams) sold for $1.6 billion and $1.5 billion, respectively.
The Suns are a desirable franchise located on the West Coast who remain on the upswing after earning an NBA Finals berth in 2021 and winning a team-record 64 games last season. They also have a core of players who are 26 or younger (Devin Booker, Deandre Ayton, Mikal Bridges, and Cam Johnson) to go along with 37-year-old Chris Paul.
Owner Robert Sarver, who bought the Suns in 2004 for $401 million, has begun the process of selling the team. Sarver’s decision comes after he was sanctioned by the NBA for his racist and misogynistic behavior (and faced subsequent public pressure to sell). As for who his potential buyers might be, there have been a few reported candidates with some very deep pockets.
