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As Robert Sarver begins the process of selling the Phoenix Suns, we look at the steps and how long it would take to buy the professional NBA team.
purchased 49% of the franchise in 2018, before acquiring the remaining 51% from Russian oligarch Mikhail Prokhorov the following year for a grand total of $2.35 billion. There have only been three purchases for over $1 billion -- the Houston Rockets for $2.
2 billion, the Los Angeles Clippers for $2 billion and thecontentious as the league forced Sterling’s estranged husband, Donald, out after video surfaced of the real estate mogul making racist remarks, particularly targeting Magic Johnson. This move, made in the first two months of NBA Commissioner Adam Silver’s tenure, has proved increasingly relevant as many fans quickly drew parallels between Sterling and Sarver’s comments and seemed perplexed by the NBA’s lack of consistency. Most sales throughout the early 2000s hovered around half a billion, including Sarver’s 2004 purchase. On rare occasions these purchases come with added drama, such as the most recent franchise relocation of the Seattle SuperSonics to Oklahoma City following Clay Bennet’s 2006 purchase. Sarver’s $401 million purchase would be worthwhen exclusively looking at the impact of inflation. So where did the remaining nearly $2 billion come from? This is largely part of a bigger cultural movement that ties the booming billionaire class with a vested interest in sports. In the wake of industries like technology and the expansion of the NBA to international buyers, more and more billionaires are eager to get a piece of the pie. This cultural trend isn’t exclusive to the NBA. Team valuations across the world are exploding, most recently demonstrated in theHow have the Phoenix Suns increased their value so significantly? In addition to the larger cultural trend, the Phoenix Suns' sales pitch certainly benefit from their recent success. The Suns are considered an extremely desirable franchise in the marketplace and will have no shortage of high-level ownership candidates. As a warm weather destination in West, league executives always believed this could be a monster free agent destination with right ownership.The team made the playoffs five of Sarver’s first six seasons as an owner, including three appearances in the Western Conference Finals. They then underwent a decade-long playoff drought and consistently finished near the bottom of their division. It was only in 2021 that the pieces finally came together. Devin Booker had slowly transitioned from up-and-comer to a certified star and Monty Williams was settling in as head coach. They joined forces with the newly-acquired Chris Paul to make the franchise’s first playoff appearance since 2009, advancing all the way to the NBA Finals. While they fell short of championship glory, the Suns essentially return all the same pieces from last season and are in a good position to contend for a title.
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