The Phoenix Suns are now up for sale after the robert sarver controversy, but despite the recent issue, it likely won’t affect the price of the franchise.
According to investment bank officials interviewed by Baxter Holmes of ESPN, there are a number of factors that make it likely for the final sale price of the Suns to even exceed the NBA-record. The highest sale of an NBA franchise is $2.35 billion, which Joe Tsai paid in 2019 to purchase the Brooklyn Nets. Prior to that, the record was $2.2 billion when Tilman Fertitta bought the Houston Rockets.
The Suns are also expected to garner a lot of interest, which could only help in increasing the price of the team.
“It’ll be the highest price ever paid for an NBA team,” an investment bank official claimed.
As stated in the same ESPN report, Phoenix’s warm weather, as well as proximity to Los Angeles, Las Vegas and Bay Area could factor in the sale price of the team. There is also the new practice facility of the Suns and their renovated arena. Other factors mentioned include the upcoming new TV rights deal and CBA, along with the global growth of the league.
The league’s potential expansion in Seattle and Las Vegas could also help boost the price of the Suns.
It remains to be seen how much the Suns will end up being sold and how long it will take to complete the process, though there will definitely be a lot of eyes on the team as they go through a rather unstable and uncertain time.