Robert Sarver no longer owns the Phoenix Suns and Mercury. The Arizona financier completed the sale yesterday, transferring both franchises to Mat Ishbia, the president and CEO of the largest mortgage company in the United States. The move reverberated beyond the United States, connecting American ownership to Real Mallorca, and leaving observers to wonder what this means for the club’s present and future. If Mallorca’s vice president intends to maintain his links to football, he may decide to part with his shares instead.
The one certainty today is that Sarver walked away with a considerable windfall. Ishbia paid a substantial sum to acquire most of the NBA and WNBA teams, a figure that reflects a dramatic rise in value for a franchise once acquired for much less. The Tucson businessman, who paid 400 million dollars to complete the purchase, has watched the teams grow substantially in value over the last eighteen years, reinforcing the idea that smart timing and strong assets can compound wealth even in a long horizon industry.
Three months ago, Mallorca’s vice president faced mounting pressure and announced the sale of two teams he has owned since 2004. The Arizona owner orchestrated a major financial maneuver through Moelis & Co, a well regarded public investment bank. The move came under intense scrutiny from the sport’s biggest stars and teams. LeBron James and Chris Paul, among others, were cited in discussions about the league’s penalties and the implications for Vermilion’s shareholders, which contributed to the decision to step back from some activities.
While the image in the United States has suffered, the impact of the controversy did not travel far across the Atlantic. Mallorca’s managers have worked to defend the club’s reputation and to emphasize the club’s tradition of fair treatment of employees. The prevailing truth now is that Sarver leaves a legacy marked by bold, sometimes controversial, business moves and a willingness to change direction when opportunity presents itself, rather than a quiet, cautious stewardship.
The American investor arrived in Real Mallorca in January 2016 carrying ambitions and a stake that grew over time. He, along with Kohlberg and other minority partners, helped form Liga ACQ Legacy Partners LLC, a vehicle registered in Wilmont aimed at acquiring assets in the region and consolidating ownership of the club’s key holdings.
From the outset, both the Arizona banker and the New York tennis executive were central figures in the project. Time, however, placed each individual in different roles. Kohlberg was elected club president in September 2017 and has since maintained a close watch on the club’s status and its surrounding properties. Sarver took a more reserved role, gradually reducing his public appearances at Son Moix as he invested behind the scenes. His absence from mid matches underscores a shift in leadership and strategy over recent months.
Sarver’s departure from the Suns coincided with Kohlberg’s exit as a minority partner, signaling the end of a period of alignment between Mallorca and the NBA. The era of major sponsorships, including PayPal, faded as the ownership landscape evolved and new players emerged on the scene.
Now a window of opportunity opens for those with financial strength and strategic patience. Mallorca’s leadership faces the challenge of deciding the club’s future course in a moment marked by strong on field performance and the stability brought by Javier Aguirre last season. The supporters remain hopeful that the club will continue to receive sustained investment, and the management believes that the fan base will maintain its loyalty as long as the club remains competitive and well managed. The direction of the club is now in the hands of the current investors, leaving the exact path as a developing mystery for the time being.