Robert Sarver

The mortgage executive has agreed to buy a majority stake in the NBA and WNBA teams from Robert Sarver, who is serving a one-year ban from suspension after a report on his toxic behavior.

Robert Sarver, who owns 35% of the Suns and Mercury, says he's looking for buyers after he was disciplined by the NBA for abusive behavior. His cited the "unforgiving climate" for his decision.

Robert Sarver, the majority owner in Phoenix, faces increasing pressure from sponsors and members of his organization after a league investigation found he'd used racial slurs and demeaned employees.

League officials say the comprehensive investigation into Robert Sarver will determine whether they will take action against the team owner.