Venture capital investors Thiel Capital and Shasta Ventures have tabled a bid worth $3 billion to acquire the Phoenix Suns and Mercury NBA and WNBA basketball teams, according to a report by the Wall Street Journal.
Venture capital investors Thiel Capital and Shasta Ventures have tabled a bid worth $3 billion to acquire the Phoenix Suns and Mercury NBA and WNBA basketball teams, according to a report by the Wall Street Journal.
The report cites an unnamed source as revealing that the bid was submitted by Jack Selby, the managing director of Peter Thiel’s Thiel Capital, and Jason Pressman, managing director of Shasta Ventures. Other private equity investors and sovereign wealth funds including the Qatar Investment Authority, are also thought to be providing financing for the deal.
Robert Sarver, owner of the two pro basketball teams, revealed in September that was looking for buyers for the franchises after he coming under pressure to sell-up following allegations of racist slurs and harassment of female employees.
