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Surebets Two VCs offer $3bn for Suns and Mercury
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Two venture capitalists have made an offer to buy the Suns and Mercury for $3 billion, according to The Wall Street Journal. The bid was submitted by Jack Selby, managing director of Peter Thiel`s Thiel Capital, and Jason Pressman, managing director of Shasta Ventures. The $3 billion bid could include funding from Thiel, as well as other private equity and government funds.
Several members associated with the bid reportedly met with Suns management on Wednesday. The second round of bidding will take place in January.
Phoenix owner Robert Sarver has decided to sell his shares in the Suns and Mercury after a league predicted by arbitrage betting middles investigation confirmed misconduct in the workplace.
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