Suns owner Mat Ishbia accused of using organization as "personal piggy bank" in lawsuit

[ASFN Admin]

The legal battle between Phoenix Suns and Mercury owner Mat Ishbia and two of the franchise’s minority owners took another turn Monday, with the stakeholders accusing Ishbia of using the basketball organizations as his own “personal piggy bank” while hiding details of his spending from them. Andy Kohlberg and Scott Seldin say Ishbia has mismanaged the pro basketball organizations, accusing him of financial malfeasance and of trying to use a capital call to try to bully them out of some of their shares in the franchises. Instead, they allege, it blew up in Ishbia’s face and afforded them an opportunity to take a majority share of the teams.

New York Times

This article originally appeared on Hoops Hype: Suns owner Mat Ishbia accused of using organization as "personal piggy bank" in lawsuit

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