PayPal won’t renew Suns sponsorship if team owner stays on after suspension

Sept 16 (Reuters) – PayPal Holdings (PYPL.O) won’t renew their jersey sponsorship with the Nationwide Basketball Affiliation’s Phoenix Suns if group proprietor Robert Sarver stays with the membership after serving his suspension for office misconduct, the corporate mentioned on Friday.

Sarver was suspended by the NBA this week for one yr and fined $10 million after an unbiased investigation decided he engaged in hostile, racially insensitive and inequitable conduct towards feminine staff. learn extra

“We have now reviewed the report of the NBA league’s unbiased investigation into Phoenix Suns proprietor Robert Sarver and have discovered his conduct unacceptable and in battle with our values,” PayPal Chief Govt Officer Dan Schulman mentioned in a press release.

“PayPal’s sponsorship with the Suns is about to run out on the finish of the present season. In mild of the findings of the NBA’s investigation, we won’t renew our sponsorship ought to Robert Sarver stay concerned with the Suns group, after serving his suspension.”

PayPal’s jersey sponsorship cope with the Suns, which was introduced in 2018 and consists of the Girls’s Nationwide Basketball Affiliation’s Phoenix Mercury, noticed the fee processor’s brand seem on the entrance of the group’s uniform.

Sarver launched a press release after the punishment was handed down and mentioned he disagreed with among the particulars of the NBA report however needed to apologize for his phrases and actions that offended staff.

Reporting by Frank Pingue in Toronto, enhancing by Ed Osmond

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