Robert Sarver Rumors
An investment firm started by the owner of an NBA basketball team has joined the group of investors vying to buy almost 15 acres of real estate in downtown Nashville. San Diego-based Southwest Value Partners has joined the investors who are under contract to buy the sprawling campus of LifeWay Christian Resources, as well as some adjoining property.
Southwest Value Partners was co-founded 25 years ago by Robert Sarver, who is the majority owner and managing partner of the Phoenix Suns NBA team. In 2004, Sarver led a group of investors who paid about $400 million to buy the Suns, an amount that set a league record at the time. In January, Forbes valued the franchise at $910 million.
Arizona’s top basketball executive is taking another corner kick on a European soccer club. Robert Sarver, managing partner of the Phoenix Suns and chief executive officer of Western Alliance Bancorporation, confirmed that he’s leading a small group of investors interested in purchasing Levante, a club in Valencia, Spain, that plays in the nation’s top league.
Sarver previously made a failed bid to buy another European soccer team, the Rangers franchise of Glasgow, Scotland, for nearly $30 million. Without discussing details of the Levante proposal — which European media sites have pegged at around $60 million — Sarver said he enjoys soccer and sees long-term business opportunities in the sport. Sarver’s investor group reportedly includes former Suns all-star Steve Nash and the team’s vice chairman, Andy Kohlberg.