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PayPal Holdings Inc. revealed it would terminate its sponsorship contract with Phoenix Suns if its team owner, Rober Sarver, returns to the organization after a year of suspension. The financial technology firm said it would not be able to continue supporting the NBA team if the previously banned 60-year-old businessman remained affiliated with the team.
PayPal is one of the Phoenix Sun's jersey sponsors, and it recently warned of severing ties with the said NBA team if Sarver is allowed to come back with the organization. The team's owner has been slapped with a $10 million fine and a year of suspension from the basketball league after being found guilty of inappropriate behavior towards female employees on top of repeated uttering of the N-word.
According to CNBC, PayPal has been Phoenix Sun's major sponsor since signing a sponsorship deal in 2018, and it is making a request for the team to take disciplinary action against Sarver, in addition to the suspension penalty. The contract includes the jersey patch, and the company's payment systems were also integrated into the team's ticket sales.
PayPal is actually not the only one that is calling for Sarver to permanently leave NBA, as other players and their association all agree that the initial punishments given to the Phoenix Suns team owner were not enough. If the team fails to address PayPal's request regarding Sarver, it is likely that its sponsorship deal with WNBA's Phoenix Mercury and Spanish soccer team Real Club Deportivo Mallorca will also be affected since these are also owned by Sarver.
"PayPal is a values-driven company and has a strong record of combatting racism, sexism, and all forms of discrimination. We have reviewed the report of the NBA league's independent investigation into Phoenix Suns owner Robert Sarver and have found his conduct unacceptable and in conflict with our values," Dan Schulman, PayPal's chief executive officer and president, said in a statement regarding its stance on the possibility of Sarver's return after the ban.
He added, "PayPal's sponsorship with the Suns is set to expire at the end of the current season. In light of the findings of the NBA's investigation, we will not renew our sponsorship should Robert Sarver remain involved with the Sun's organization, after serving his suspension."
