The legal battle pitting Phoenix Suns majority owner Mat Ishbia against minority partners Scott Seldin and Andy Kohlberg is headed to confidential, binding mediation, according to a stipulation filed Monday in Delaware state court.
The agreement pauses all courtroom activity and calls for both sides to dismiss their lawsuits once mediation is complete. A mediator will set the price for the minority owners’ combined 13% stake, which Ishbia is positioned to purchase. Acquiring those shares would lift his ownership position from 83.2% to roughly 96%, eliminating the final holdovers from the Robert Sarver era.
Seldin and Kohlberg sued Ishbia twice in 2025, accusing him of financial misconduct and claiming he sought to dilute their holdings through back-to-back capital calls. Ishbia, who purchased the franchise from Sarver in 2023 for $4 billion, countersued, saying the pair tried to force an “exorbitant” buyout that valued the club at about $6 billion.
Fourteen of the 16 limited partners accepted Ishbia’s 2023 buyout offer. Kohlberg began separate negotiations in September 2024, while Seldin initially stayed on. Their attorneys say Ishbia issued a $250 million capital call on June 2 2025, followed by another on July 8 2025, each with 10-day funding deadlines and warnings of punitive dilution. Both men say they met the funding demands; they later alleged Ishbia missed his own deadlines.
The dispute is one of several legal actions involving the Suns since November 2024, including employee lawsuits alleging discrimination, retaliation, harassment and wrongful termination — claims the organization denies.
Phoenix entered Monday’s road game against Boston with a 39-28 record.
Source: ESPN.com
