Overview
- Delaware Chancery Court records show the parties will enter confidential binding mediation and dismiss the lawsuit with prejudice when it ends, removing a late-July trial from the calendar.
- The dispute involves majority owner Mat Ishbia and minority investors Andrew Kohlberg and Scott Seldin over governance and finances of the Suns and Mercury.
- Kohlberg and Seldin alleged mismanagement and said Ishbia used the team as his “personal piggy bank,” while Ishbia countersued accusing them of pursuing an extortionate buyout.
- Reporting indicates mediation will include renewed buyout talks that, if a deal is reached, could raise Ishbia’s stake to more than 96%, though any terms remain unconfirmed.
- Sources say the decision to mediate was made without NBA intervention, and the broader conflict has featured a contested $250 million capital call issued in 2025.