Phoenix Suns majority owner Matt Ishbia was reportedly sued by two minority owners of the franchise for matters of fraud.
In a document obtained by Front Office Sports, Suns majority owner Matt Ishbia was said to have been sued by two minority owners and allegations of using the basketball franchise for self-interests.
“Ishbia does not own the Suns to make money for the company but he does operate it as a personal fiefdom for his own personal gain and for the benefit of his other businesses, including his mortgage company United Wholesale Mortgage,” the latest filing said.
Suns owner Mat Ishbia is being accused by two minority owners of the team of committing fraud.
Ishbia allegedly used the team as his “personal piggy bank,” which the Suns tell FOS is a “shameless shakedown dressed up as legal process.”
— Front Office Sports (@FOS) November 24, 2025
More than alleged self-interests in the acquisition of the franchise, the suit also alleged that Ishbia has taken part in numerous dubious transactions.
“The reality is that Ishbia is using the Suns as his personal piggy bank, including through a lengthy list of conflicted transactions only some of which the minority owners are aware of,” the report added.
The suit was filed by Kisco WC Sports II, which is owned by Andre Kohlberg and Kent Circle Investments, and led by Scott Seldin.
Matt Ishbia Gives Props to Devin Booker for Having His Back
Phoenix Suns owner Matt Ishbia praised star guard Devin Booker during an appearance on Draymond Green’s podcast, highlighting the close relationship the two have developed since Ishbia bought the franchise in early 2023.
Ishbia recounted how Booker responded to the organization’s aggressive, win-now moves, including high-profile additions meant to push Phoenix toward a title, by publicly backing ownership rather than distancing himself during difficult stretches.
“He means so much to the Arizona community, the Phoenix community, and he knows that,” Ishbia said. “You find out who your real friends are when everyone else turns their back on you. When we went through some tough times, it would be easy for a franchise player to say, ‘Hey, I put my time in. I’m ready to go.’ Instead, he did the reverse. He said, ‘I’m with you, Matt. I believe in what we’re doing. I’m all in with you. I’ll even sign an extension. I want to be here with you. Let’s go do this.’”
Ishbia added that with how Booker had his back, he would also have his back in return.
“He’s had my back. I’ll always have his back,” he added. “It’s been special, and I’m very lucky to have him.”
https://www.youtube.com/watch?v=cwjDNJmgsrU&t=2s
Booker’s contract now runs through the 2029–30 season, a move Matt Ishbia framed as strengthening the partnership between the player and ownership and as a positive signal to the community and fan base.
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Dan has been active in sports since 2016 and has worked behind the scenes as a scriptwriter for basketball, volleyball, and other sports. At a time, Dan has also been working as a sports commentator for CBA Pilipinas. During the pandemic, he has also been actively writing betting articles for CashBet and BetNow.
