A pair of Phoenix Suns minority owners are again suing majority owner Mat Ishbia, this time over alleged misconduct and mismanagement of funds.
The lawsuit filed Monday in a Delaware court and obtained by ESPN alleges Ishbia is using the franchise for his own financial gain and to benefit his other businesses, including United Wholesale Mortgage.
The minority owners say Ishbia allegedly extended a loan to the Suns with an above-average market interest rate. And they say he sold the Sun’s arena naming rights to his own company without disclosing details to minority partners.
The same minority owners recently sued Ishbia and the team for business and financial records. Ishbia described that lawsuit as an intimidation tactic for buyout negotiations.