Suns sale: Qatar investors show interest / News - Basketnews.com

Phoenix Suns could be sold to Qatar Investment Authority, which eyes investment in Arizona club with a $3bn bid.

Credit: AFP – Scanpix Credit AFP – Scanpix

After Robert Salver put up the Phoenix Suns for sale, it attracted interest from Thiel Capital, Shasta Ventures, and Qatar Investment Authority, The Wall Street Journal reports.

3-pointers this season

38%13,0Points made:13,0Accuracy:38,3%Place in standings:8Record max:22Record min:6Most made 3FGs:Devin BookerTeamNBAStatisticsSchedule

According to the report, Thiel Capital, Shasta Ventures, and Qatar Investment Authority made a $3bn bid to buy the Suns and WNBA team, Phoenix Mercury. Qatar Investment Authority is part of the bid by Thiel Capital which is owned by Peter Thiel.

The bid was submitted by Jack Selby, managing director of Thiel Capital, and Jason Pressman, managing director of Shasta Ventures.

According to the Wall Street Journal report, the two bidders met with the Suns management on Wednesday. Second-round bids are due in January.

In September this year, following an ESPN investigation into allegations of harassment and racism by Suns owner Robert Sarver, the NBA found him guilty and slapped a $10m fine and a one-year suspension.

A week later, Sarver said he had begun the process of selling the Suns and Mercury.

Qatar Investment Authority has a massive interest in sports portfolio. Qatar Sports Investment (QSi), an affiliate of QIA formed in 2004, fully owns the soccer clubs Paris Saint-Germain and a 21.67% share in Portuguese Primeira Liga club SC Braga.

The Suns reached three NBA Finals in 1976, 1993, and 2004 but never won a championship. Meanwhile, the Mercury are 3-time WNBA champions (2007, 2009, and 2014)

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