Mat Ishbia Countersues Suns’ Minority Shareholders

Phoenix Suns owner Mat Ishbia has filed a countersuit against a pair of minority owners who sued Ishbia and the team earlier this year, according to Mike Vorkunov of The Athletic.

Filed Tuesday in Delaware State Court, the countersuit states that Suns minority owners Scott Seldin and Andy Kohlberg pushed Ishbia to buy out their ownership shares “at an exorbitant premium,” per ESPN’s Baxter Holmes.

Ishbia’s new lawsuit also states that Ishbia has invested significantly in the Suns and the WNBA’s Phoenix Mercury since buying the team and sought funds on a capital call in June to “cover payroll, luxury tax payments and other near-term obligations,” per Vorkunov.

The Suns sent a letter in August to Seldin and Kohlberg, explaining that they have no obligation to buy out their ownership share for $825 million.

Scott Seldin, Andy Kohlberg Sued Suns In August

Seldin and Kohlberg sued the team in August, alleging that Ishbia has refused access to internal records.

“When Mat Ishbia bought the Suns and Mercury, he couldn’t have been clearer with investors: he was going to invest in the teams, the fans, and the community,” an Ishbia spokesperson said in a statement. “Every investor had the choice at that point — sell at premium or stay in and invest alongside him.

“Andy Kohlberg and Scott Seldin want it both ways. They don’t want to invest in the teams, but they are demanding a payday significantly higher than what Mat originally offered, which was still over 20 times their original investment. That’s not how it works, and we’re confident we’ll prevail in court.”

Michael Carlinsky of Quinn Emanuel, who is representing the minority partners, responded to the countersuit in a statement later Tuesday.

“Mr. Ishbia’s so-called ‘declaratory judgment lawsuit’ is nothing more than a thinly-disguised effort to thwart our clients’ books and records litigation through delay; it doesn’t actually ‘sue’ anyone,” the statement read.

“That said, we intend to add our full set of counterclaims for damages arising out of Mr. Ishbia’s gross mismanagement and dereliction of duties and will obtain the evidence that he has been fighting to keep from us.”

Ishbia has been at the center of other legal battles in Phoenix since taking over the team.

The August lawsuit from Seldin and Kohlberg was the sixth against the Suns since November 2024. The other five were by current or former employees.

In addition to this dispute between the team’s investors, several former employees have filed lawsuits against the Suns, alleging discrimination, harassment, and wrongful termination.

Ishbia said at media day that he wasn’t looking to settle those suits.

“The truth is, you actually got to win a lawsuit,” he said. “And where I’m different than most successful people … is like, we don’t settle. If we don’t do anything wrong, I’m not paying someone. I hope you guys all report on how many lawsuits we actually lose.”

Sources informed Holmes last month that the Suns allegedly told employees this spring that in order to keep their jobs, they needed to sign an agreement limiting their ability to sue the team over workforce matters.