PayPal, the jersey sponsor for the Phoenix Suns, warned that it would sever ties with the team if owner Robert Sarver remains affiliated with the organization.
"PayPal's sponsorship with the Suns is set to expire at the end of the current season," CEO Dan Schulman said in a."In light of the findings of the NBA's investigation, we will not renew our sponsorship should Robert Sarver remain involved with the Suns organization, after serving his suspension."
The $10 million fine Sarver faces is the highest allowable under the NBA by-laws, but the league has doled out more significant suspensions in the past.after his racist comment surfaced. The suspension forced him to sell the team. PayPal joins multiple NBA players and the players' association in saying Sarver's punishment doesn't go far enough, including Suns star Chris Paul.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PayPal Says It Won’t Work With Phoenix Suns If Robert Sarver Keeps The TeamPayPal, which is the Suns’ jersey patch sponsor, made the announcement after an NBA probe found Sarver said the N-word several times and engaged in other inappropriate behavior, but did not remove Sarver as owner.
Read more »
As 'buy now, pay later' plans grow, so do delinquenciesBuy now, pay later loans allow users to pay for items such new sneakers, electronics, or luxury goods in installments. Companies such as Affirm, Afterpay, Klarna and PayPal have built popular financial products around these short-term loans, particularly for younger borrowers, who are fearful of never-ending credit card debt. “You have an industry with a higher concentration of subprime borrowers in a market that hasn’t been effectively tested through (this type of economy), and you have a kind of a toxic brew of concerns,” said Michael Taiano, an analyst with Fitch Ratings, who co-wrote a report in July highlighting some of the concerns with the industry.
Read more »
Phoenix Suns Minority Owner Calls For Robert Sarver To ResignPhoenix Suns minority owner Jahm Najafi is calling for the resignation of Robert Sarver.
Read more »
Suns exec calls for resignation of Robert Sarver following suspension, probe: 'Words and actions matter'A Phoenix Suns executive called for team owner Robert Sarver to resign following findings by the NBA that Sarver used the N-word at least five times, plus other findings.
Read more »
Feigen: NBA's double standard on display with Robert Sarver suspensionFeigen: NBA's double standard for owners on full display with Robert Sarver suspension
Read more »