Robert Sarver sold the Phoenix Suns late last year in the wake of an NBA investigation into his alleged misconduct, and he made a couple of kind gestures on his way out.
ESPN’s Baxter Holmes reports that Sarver has given out individual bonuses of $20,000 to many Suns employees. He has also pledged $5 million to the team’s charity.
Between 250-300 Suns employees were informed on Thursday by new majority owner owner Mat Ishbia that they will receive the $20,000 bonus in their next paycheck. Full-time employees of the team who started on or before Feb. 15, 2022 will get the bonus.
Sarver purchased the Suns from former owner Jerry Colangelo for just over $400 million in 2004. He sold the team to Ishbia for $4 billion, with $1.48 billion going to Sarver for his personal 37 percent stake. The 61-year-old is expected to clear around $800 million after taxes, according to Holmes.
While he can certainly afford to give away some money, the gesture was appreciated. One current Suns employee described the bonus to Holmes as “a classy way to move on.”
Sarver was pressured into selling the Suns after the NBA sanctioned him for workplace misconduct. Ishbia, who has a strong basketball background, beat out several other wealthy prospective buyers.
