"A less-redacted court filing in a lawsuit against Mat Ishbia includes new financial details that two Phoenix Suns minority owners say could threaten Ishbia's majority ownership of the team. The filing, a copy of which was obtained by ESPN on Tuesday, is from a lawsuit filed Nov. 24 in Delaware State Court by attorneys representing Scott Seldin and Andy Kohlberg, two Suns minority owners."
"The lawsuit against Ishbia accuses him of financial misconduct, including using the team as a "personal piggy bank." Ishbia, who bought the Suns in 2023, has denied such allegations."
A less-redacted Delaware court filing contains financial details that minority owners Scott Seldin and Andy Kohlberg say could threaten Mat Ishbia's majority ownership of the Phoenix Suns. The filing alleges Ishbia engaged in financial misconduct and used the team as a "personal piggy bank." The dispute traces to September 2024, when Kohlberg negotiated a buyout and Seldin did not. On June 2, 2025, Ishbia initiated a $250 million capital call and allegedly threatened punitive dilution if minority owners failed to fund by June 12; the owners paid under protest. Ishbia denies the allegations and his spokesman called the claims "ridiculous."
Read at ESPN.com
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