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InsideHoops.com NBA News

Today Phoenix Suns Chairman, CEO and Managing General Partner Jerry Colangelo made the following statement regarding an article appearing in the Sports Business Journal:

“You may have seen that the Sports Business Journal this week reports that Lehman Brothers has been retained by the Suns to find new ownership investment for the Suns.”

“First of all, I want to assure you that my interest is in being the Chairman and Chief Executive Officer and Managing General Partner of the Suns for a long time into the future. I believe that the decisions we have made this season have positioned us to improve and become a very good basketball team.”

“At 64 years of age, I want to make sure that the future of the Suns is secure. For some time, I have expressed a desire to find the right ownership that could purchase a minority interest in the Suns now, and at some point, many years from now, have the right to purchase the balance of the team when I'm ready to step out of my current role. Until that time, I am completely focused on the same goal I had when I first came to Phoenix 36 years ago to start the Suns - winning an NBA Championship.”