PayPal Holdings will not renew its jersey sponsorship with the National Basketball Association’s Phoenix Suns if team owner Robert Sarver remains with the club after serving his malpractice suspension, the company announced Friday.
Sarver was suspended by the NBA this week for one year and fined $10 million after an independent investigation determined he engaged in conduct that was hostile, racially insensitive and unfair to people. employed.
“We have reviewed the report of the NBA’s independent investigation into Phoenix Suns owner Robert Sarver and found his conduct to be unacceptable and contrary to our values,” PayPal chief executive Dan Schulman said in a statement. a statement.
“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 if Robert Sarver remains involved with the Suns organization, after serving his suspension.
PayPal’s jersey sponsorship deal with the Suns, which was announced in 2018 and includes the Women’s National Basketball Association’s Phoenix Mercury, saw the payment processor’s logo appear on the front of the team’s uniform .
Sarver released a statement after the penalty was handed down and said he disagreed with some of the details in the NBA report, but wanted to apologize for his words and actions which offended employees.