Phoenix Suns ownership dispute involving UWM's Ishbia resolved in court

"It comes just days after a countersuit from Suns majority owner Mat Ishbia, who also serves as president and CEO of United Wholesale Mortgage (UWM), against minority owners Scott Seldin and Andy Kohlberg. Ishbia accused Seldin and Kohlberg of attempting to compel him to repurchase their ownership shares at an exorbitant premium. The countersuit followed an August lawsuit from Kisco WC Sports II, owned by Kohlberg, and Kent Circle Investments, 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. 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 exorbitant premium buyout. In turn, the Suns asked the court to affirm the capital call's validity and accused the minority owners of launching a smear campaign to secure an inflated payout."

"Michael Carlinsky of Quinn Emanuel Urquhart & Sullivan LLP, counsel for the minority partners, issued a statement after Friday's dismissal. Our clients succeeded in their books and records action in obtaining information we were seeking and have discontinued that case, he said. We are now focused on the critical phase in our litigation, which will involve our clients' assertion of claims for mismanagement and other misconduct and look forward to their day in Court."

Majority owner Mat Ishbia filed a countersuit against minority owners Scott Seldin and Andy Kohlberg, accusing them of attempting to force him to repurchase their shares at an exorbitant premium. The countersuit followed an August suit from Kisco WC Sports II and Kent Circle Investments, whose owners alleged Ishbia denied them access to team records. The dispute arose after a June 2025 capital call for team expenses that Kisco and Kent refused to fund. The minority partners accused Ishbia of pressuring them to sell and seeking an inflated buyout. Counsel Michael Carlinsky said the minorities obtained requested books and records and will pursue claims of mismanagement and misconduct.

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