Suns Buy Back Women’s Stake In WNBA Mercury

The Suns have reacquired the ownership stake of WNBA Mercury investors Anne Mariucci and Kathy Munro for an undisclosed sum after the two had a “falling out” with Suns & Mercury Owner Robert Sarver, according to Craig Harris of the ARIZONA REPUBLIC. Mariucci and Munro in February ’04 paid $1M for a 10% stake in the Mercury, and they were “to obtain an additional 15[%] over time through ‘sweat equity’ by building up the franchise’s value.” The women had been the “only individual investors ever to own part of a WNBA team in the league’s history.” Munro: “We are very disappointed in not going forward with the Mercury. As we look back on this past year, we don’t regret it one bit. We are awfully proud of what we accomplished.” Mariucci and Munro “thought they had a deal in place with Sarver to increase their investment to 50[%] and become the managing partners,” but they said that Sarver “recently backed out and decided to take complete control.” Mariucci said that she and Munro “did not make a profit as investors in the Mercury.” Suns & Mercury President Rick Welts said Sarver and his partners just wanted “complete ownership and management” of the Mercury, and that the Suns’ “long term plan is to keep the Mercury, even though the team has lost money the past few years” (ARIZONA REPUBLIC, 1/19).