• Loading stock data...
Wednesday, September 17, 2025

Phoenix Suns, Mercury Receive $3B Offer

  • The bid could include financing from Thiel Capital’s Peter Thiel.
  • Thiel’s net worth is estimated to be $4.2 billion.
Phoenix Suns players Devin Booker and Deandre Ayton standing on basketball court
Mark J. Rebilas-USA TODAY Sports

Two venture capitalists have reportedly made an offer for the Phoenix Suns and Mercury.

Jack Selby, managing director at Thiel Capital, and Jason Pressman, managing director at Shasta Ventures, have made a $3 billion bid for the teams, according to the Wall Street Journal. Forbes last valued the Suns at $2.7 billion.

The bid could include financing from Thiel Capital’s Peter Thiel, who co-founded PayPal — a sponsor of the two Arizona teams. Thiel’s net worth is estimated to be at $4.2 billion.

  • Other backing could potentially come from private equity and sovereign wealth funds such as the Qatar Investment Authority.
  • Selby and Pressman are reportedly forming a group of roughly 10 to assist in the takeover. 

Members of the group toured the Suns’ facilities and met with its management on Dec. 6, according to The Wall Street Journal.

Last week, outlets reported that a “handful” of bidding groups progressed to the second round of vetting. Second round bids are reportedly due in January.

Phoenix Suns Move Closer to Finding New Owner

The sale could reportedly push the Suns’ value to $3 billion.
December 8, 2022

Jeff Bezos, Larry Ellison, and former president Barack Obama have also been reported as possible interested parties.

Sarver’s Sale

The teams were put up for sale by Robert Sarver following an NBA-commissioned report detailing repeated acts of misogyny and racism by Sarver. He owns around 35% of the NBA team but reportedly has authority to sell the team in full.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sep 14, 2025; Las Vegas, Nevada, USA; Las Vegas Aces guard Jewell Loyd (24) gestures to a teammate after scoring against the Seattle Storm in the first quarter during game one of round one for the 2025 WNBA Playoffs at Michelob Ultra Arena.

Aces Surge From Collapse to Contention With Dynasty at Stake

The turnaround started after a 53-point loss to the Minnesota Lynx.
Premier Lacrosse League

‘The Circus Is Coming to Town’: Why Upstart Leagues Start on Tour

In their ambitious plans, a traveling schedule is only temporary.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.

Featured Today

ESPN’s ‘MNF’ Ratings Up 8% As NFL Surges to Strong Start

ESPN posts its second-best Week 1 “Monday Night Football” audience.
Sep 7, 2025; Orchard Park, New York, USA; Buffalo Bills fans react during the fourth quarter against the Baltimore Ravens at Highmark Stadium.
September 9, 2025

As Bills Ascend, Their Next Frontier Lies in Canada

Buffalo and the powerful Canadian entity MLSE come together in a new pact.
opinion
September 9, 2025

The Good, The Bad, and The Ugly from NFL’s Week 1 Broadcasts

Many viewers decried the addition of ads to “NFL RedZone.”
Aug 23, 2025; Tampa, Florida, USA; Buffalo Bills quarterback Josh Allen (17) leads the team onto the field for warm ups before a game against the Tampa Bay Buccaneers at Raymond James Stadium.
September 7, 2025

Slow Burn: The NFL’s Private-Equity Era So Far

Three deals have been struck to date. But the league is bullish.
Apr 11, 2025; Portland, Oregon, USA; Portland Trail Blazers guard Rayan Rupert (21) shoots a jump shot during the second half against Golden State Warriors guard Moses Moody (4) at Moda Center.

Trail Blazers Sale and Ownership Group Finalized, Now Awaiting NBA Approval

Dundon’s ownership group also includes the founders of Panda Express.
Valkyries
September 15, 2025

Valkyries Will Try to Remake Ballhalla 50 Miles Away

Golden State will try to stave off elimination in an unfamiliar environment.
September 15, 2025

Warriors $75M Pitch Fails to Sway Kuminga As Season Looms

Kuminga and his representatives want a long-term deal.
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
Sep 8, 2025; Philadelphia, Pennsylvania, USA; New York Mets outfielder Juan Soto (22) runs to first base during the first inning against the Philadelphia Phillies at Citizens Bank Park.
September 12, 2025

The $339 Million Mets Are in Jeopardy of Missing the Playoffs

The Mets’ wild-card lead is 1.5 games with 15 remaining in the regular season.
Sep 10, 2025; Uncasville, Connecticut, USA; Connecticut Sun forward Aaliyah Edwards (8) fights to keep the ball in-bounds during the second half against the Atlanta Dream at Mohegan Sun Arena.
September 12, 2025

Connecticut AG Demands Documents From WNBA About Sun Sale Process

The WNBA reportedly prefers to move the team to Houston.
Mar 3, 2025; Miami, Florida, USA; Miami Heat guard Terry Rozier (2) warms up prior to the game against the Washington Wizards at Kaseya Center.
September 11, 2025

Hornets Cancel Sports Betting Night Vs. Heat Over Terry Rozier Tie-In

Terry Rozier is under federal investigation for point-shaving in a 2023 game when he was on the Hornets.
May 3, 2025; Denver, Colorado, USA; LA Clippers forward Kawhi Leonard (2) controls the ball in the first quarter against the Denver Nuggets during game seven of first round for the 2025 NBA Playoffs at Ball Arena.
September 11, 2025

Clippers Minority Owner Allegedly Invested in Aspiration to Pay Kawhi

Minority investor Dennis Wong allegedly invested in Aspiration as well.