• Loading stock data...
Friday, November 8, 2024
DEADLINE EXTENDED: The Best Employers in Sports survey is now open through Nov. 13 Learn More

Potential Phoenix Suns Buyers Raise Concern Over Banker

  • The relationship between Phoenix Suns minority owner Jahm Najafi and banker Navid Mahmoodzadegan has come under scrutiny.
  • Potential buyers have wondered how much control Najafi has over the sales process.
Phoenix-Suns-Arena-Interior
Mark J. Rebilas-USA TODAY Sports

Negotiations around the coming sale of the Phoenix Suns are being complicated by the close relationship between two people on opposite sides of the bargaining table.

Controlling owner Robert Sarver is being advised by Moelis & Company banker Navid Mahmoodzadegan, who is reportedly close to Suns’ minority owner Jahm Najafi — who publicly called for Sarver’s ouster following a report of racist and sexist behavior.

  • Mahmoodzadegan has also advised Najafi — which reportedly has potential buyers and their advisers concerned that the latter might influence the sale in favor of someone to his liking vs. the highest bidder or best fit. 
  • Sarver reportedly selected the bank because it is based in Los Angeles and that founder Ken Moelis and Mahmoodzadegan would personally work on the deal. 
  • Sarver isn’t concerned about the latter’s links to Najafi.

Moelis also advised on the $5.3 billion sale of Premier League club Chelsea to Los Angeles Dodgers, Lakers, and Sparks co-owner Todd Boehly and Clearlake Capital.

Najafi also holds stakes in McLaren Racing and the X-Games.

Mega-Deal

The sale of the Suns could approach the NBA’s largest ever: Joseph Tsai’s $2.3 billion purchase of the Brooklyn Nets in 2019.

The team was valued at $2.7 billion by Forbes in October, a 50% increase over the previous year.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NBA Ratings Are Dipping and One Legend Has a Theory Why

NBA teams are averaging 37 three-points attempts per game this season.

Cardinals Return to DSG at Reduced Fee, but Company’s Issues Remain

The team’s revised rights deal includes a lowered fee and newly added streaming rights.

NASCAR Season Wraps Up With Major Momentum for 2025

Cup Series races this year have averaged 2.89 million viewers.

NFL TV Ratings: Can Amazon Keep Up Record ‘TNF’ Pace?

Thursday night games are averaging 13 million viewers.
podcast thumbnail mobile
Front Office Sports Today

Joey Logano Talks NASCAR vs. F1, Pursuing Third Championship

0:00

Featured Today

NFL Center Connor McGovern Is the Heir to a Potato Empire

The NFL vet’s family provides potatoes for McDonald’s, Wendy’s, and others.
Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion
November 2, 2024

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.
November 1, 2024

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
October 31, 2024

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.
May 22, 2024; Minneapolis, Minnesota, USA; Minnesota Timberwolves minority owners Marc Lore and Alex Rodriguez look on in the second half against the Dallas Mavericks during game one of the western conference finals for the 2024 NBA playoffs at Target Center.

A-Rod, Lore Deposit $940M As Wolves Ownership Hearing Nears

Rodriguez and Lore made a large escrow deposit in advance of a key upcoming arbitration hearing.
Feb 13, 2023; Beverly Hills, CA, USA; Disney CEO Bob Iger arrives at the 95th Oscars nominees luncheon at the Beverly Hilton in Beverly Hills, Calif. on Monday, Feb. 13, 2023.
October 21, 2024

Bob Iger’s Successor Won’t Be Named Until 2026

Iger’s current contract expires at the end of 2026.
October 22, 2024

Dude Perfect CEO’s Task: Make the Dudes a Media Company

Dude Perfect’s new CEO wants fans to be able to experience the brand in person.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 28, 2024

New York First: Yankees and MSG Go All In on Live Sports Streaming Pact

The YES Network and MSG Networks will offer their content in a combined streaming app.
August 28, 2024

ESPN’s Pitaro: RSN Turmoil An Opportunity to Expand Local Game Coverage

ESPN chairman Jimmy Pitaro highlights a fast-developing regional content strategy.
August 26, 2024

NFL Ready to Break New Ground With Historic Private Equity Investment

The league is poised to make official a long-awaited embrace of private equity.
August 19, 2024

NFL Private Equity Could Be Approved Before Season

No minority franchise stake sales have been publicly announced this year.