Arizona Cardinals wide receiver Larry Fitzgerald sat in on the Phoenix Suns’ basketball-executive interviews last year.
Now, he’ll have a more formal role within the organization.
Adrian Wojnarowski of ESPN:
Reporting with @AdamSchefter: Arizona Cardinals wide receiver Larry Fitzgerald has purchased a minority stake in the Phoenix Suns, becoming second active NFL player with an NBA ownership share, league sources tell ESPN. Green Bay’s Aaron Rodgers has a stake in Milwaukee Bucks.
— Adrian Wojnarowski (@wojespn) January 22, 2020
Green Bay Packers quarterback Aaron Rodgers bought a share of the Bucks in 2018.
The NBA reportedly mandates that all new minority owners buy at least a 1% share. Forbes’ last estimate valued the Suns at $1.5 billion. That’d put Fitzgerald’s minimum buy-in at $15 million.
I wouldn’t be surprised if he got in cheaper, though. Widely panned Suns owner Robert Sarver can boost his image by aligning himself with the well-liked football player. Having a local sports hero involved can also help with things like getting taxpayers to fund arena upgrades.