Suns minority owner Sam Garvin "knows what type of ownership" Robert Sarver seeks in his sale of the team, according to Duane Rankin of the ARIZONA REPUBLIC. Gavin said, “I think he really wants to find someone who loves Arizona, wants to keep (the Suns) in Arizona and is committed to the fans and is committed to the community." Rankin noted Garvin has been "serving as interim team governor" after the NBA suspended Sarver in September for one year from any activities involving both the Suns and WNBA Phoenix Mercury. While Garvin has "enjoyed his time" as team Vice Chair, he has "zero interest in becoming a managing governor of the Suns." Garvin: “If I were to be part of the new group buying it, I would want to have that same role, or I wouldn’t be involved. I can help add value there, make the team better, grow revenues, give the basketball people more money to continue to have sustained success and get more players. I would not want to be the head guy like Robert was" (ARIZONA REPUBLIC, 12/11).
NEW BID GROUP EMERGES: The WALL STREET JOURNAL's Marc Vartabedian reported two venture capitalists have "submitted a bid to buy” the Suns and Mercury for $3B, an offer that "could include financing from tech mogul Peter Thiel." Sources said that the group is “one of a handful of potential buyers.” The bid was submitted by Thiel Capital Managing Dir Jack Selby, and Shasta Venture Managing Dir Jason Pressman. Sources said that the pair, along with others participating in their bid, on Wednesday "met with the Suns’ top brass," including CEO Jason Rowley and President of Basketball Operations & GM James Jones and toured the team’s arena and practice facility. Second-round bids are "due in January.” If the group wins the deal, Thiel would become a "significant shareholder in the team even though he isn’t listed on the group’s initial offer” (WALL STREET JOURNAL, 12/10).
