Suns Owner Mat Ishbia Moving Toward Buyout Of Minority Stake

A legal battle involving Suns owner Mat Ishbia may soon be heading toward resolution.

According to ESPN’s Baxter Holmes, a new court filing indicates the dispute between Ishbia and minority owners Scott Seldin and Andy Kohlberg is expected to move to confidential binding mediation.

If approved by a Delaware judge, the process could allow Ishbia to buy out the pair’s combined 13 percent stake in the franchise at a price determined by a mediator. The move would likely lead to the lawsuit being dismissed.

Seldin and Kohlberg filed suit in November 2025, accusing Ishbia of financial misconduct and mismanagement. At one point, the dispute escalated to the point where Ishbia’s majority ownership stake could have been diluted significantly.

Ishbia has denied the allegations.

Should the buyout move forward, Ishbia’s ownership stake would increase to roughly 96 percent. Seldin and Kohlberg are the final holdovers from the Suns’ ownership group under former owner Robert Sarver.

Ishbia purchased the Suns from Sarver in 2023 after an NBA investigation into workplace conduct forced Sarver to sell.

At the time, most of the team’s minority partners accepted buyout offers tied to a franchise valuation of roughly $4 billion.

The Suns entered Monday with a 39-28 record.