Overview
- Minority owner Steven Rogers filed the suit in Cook County Circuit Court, with an initial hearing scheduled for Thursday.
- The complaint alleges Alter orchestrated transactions and, as sole manager, seized over a redacted amount in value from other investors.
- Rogers says Alter refused to install a board or advisers, ran the franchise as his private concern, and claimed first priority to team income.
- The dispute dates to 2022, when Rogers alleges minority stakes were marked down despite the club later drawing new investment at an $85 million valuation and a 2025 Forbes valuation of $240 million.
- Alter and the Sky declined to comment, recent investors such as Dwyane Wade and Laura Ricketts are not named, and redactions obscure some figures and details.