{"id":311930,"date":"2025-10-17T23:21:17","date_gmt":"2025-10-17T23:21:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/311930\/"},"modified":"2025-10-17T23:21:17","modified_gmt":"2025-10-17T23:21:17","slug":"phoenix-suns-ownership-dispute-involving-uwms-ishbia-resolved-in-court","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/311930\/","title":{"rendered":"Phoenix Suns ownership dispute involving UWM&#8217;s Ishbia resolved in court"},"content":{"rendered":"<p>It comes just days after a <a href=\"https:\/\/www.housingwire.com\/articles\/phoenix-suns-owner-mat-ishbia-lawsuit\/\" rel=\"nofollow noopener\" target=\"_blank\">countersuit<\/a> from Suns majority owner <a href=\"https:\/\/www.housingwire.com\/tag\/mat-ishbia\/\" rel=\"nofollow noopener\" target=\"_blank\">Mat Ishbia<\/a>, who also serves as president and CEO of <strong>United Wholesale Mortgage<\/strong> (<a href=\"https:\/\/www.housingwire.com\/company\/united-wholesale-mortgage\/\" rel=\"nofollow noopener\" target=\"_blank\">UWM<\/a>), against minority owners Scott Seldin and Andy Kohlberg. Ishbia accused Seldin and Kohlberg of attempting to compel him to repurchase their ownership shares \u201cat an exorbitant premium.\u201d<\/p>\n<p>The countersuit followed an\u00a0<a href=\"https:\/\/www.housingwire.com\/articles\/minority-owners-sue-phoenix-suns-mat-ishbia-uwm\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">August lawsuit<\/a>\u00a0from\u00a0<strong>Kisco WC Sports II<\/strong>, owned by Kohlberg, and\u00a0<strong>Kent Circle Investments<\/strong>, owned by Seldin, who had minority stakes under former Suns majority owner Robert Sarver. Each party alleged that Ishbia refused to grant them access to team records.<\/p>\n<p>The disagreement stemmed from a June 2025 capital call for team expenses, which investors Kisco and Kent refused to fund. They accused Ishbia of pressuring them to sell their stakes and demanding an \u201cexorbitant premium\u201d buyout. In turn, the Suns asked the court to affirm the capital call\u2019s validity and accused the minority owners of launching a smear campaign to secure an inflated payout.<\/p>\n<p>Michael Carlinsky of\u00a0<strong>Quinn Emanuel Urquhart &amp; Sullivan LLP,<\/strong>\u00a0counsel for the minority partners, issued a statement after Friday\u2019s dismissal.<\/p>\n<p>\u201cOur clients succeeded in their books and records action in obtaining information we were seeking and have discontinued that case,\u201d he said. \u201cWe are now focused on the critical phase in our litigation, which will involve our clients\u2019 assertion of claims for mismanagement and other misconduct and look forward to their day in Court.\u201d<\/p>\n<p>A Suns spokesperson told <strong>HousingWire<\/strong>, \u201cThis is more of the same from litigious limited partners who are using the courts to try to leverage a buyout. They dropped their books and records complaint because the organization is and has been fully transparent about its operations and success. We are confident that we will prevail in court.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"It comes just days after a countersuit from Suns majority owner Mat Ishbia, who also serves as president&hellip;\n","protected":false},"author":3,"featured_media":311931,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5131],"tags":[5229,5643,1587,17684,379,7736,1589,67,586,141474,132,5230,68,2969],"class_list":{"0":"post-311930","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-phoenix","8":"tag-america","9":"tag-arizona","10":"tag-az","11":"tag-hwmember","12":"tag-lawsuit","13":"tag-mat-ishbia","14":"tag-phoenix","15":"tag-united-states","16":"tag-united-states-of-america","17":"tag-united-wholesale-mortgage","18":"tag-unitedstates","19":"tag-unitedstatesofamerica","20":"tag-us","21":"tag-usa"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/311930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=311930"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/311930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/311931"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=311930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=311930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=311930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}