Overview

• Mat Ishbia filed a countersuit Tuesday in Delaware state court against minority owners Andy Kohlberg and Scott Seldin, according to a complaint obtained by ESPN.
• Ishbia alleges the pair refused to contribute to a June capital call intended to cover payroll, luxury tax payments, and other near‑term obligations.
• The filing characterizes their proposed $825 million buyout price as an exorbitant premium that would value the Suns near $6 billion, and the team says it has no obligation to purchase their shares.
• Kohlberg and Seldin, holdovers from the Robert Sarver era, previously sued in August seeking access to internal records and raising concerns about potential unequal treatment tied to the capital call.
• An attorney for the minority owners did not immediately comment, and the dispute unfolds as the franchise faces several employee lawsuits while Ishbia points to significant investments since his 2023 purchase at a $4 billion valuation.