PayPal says it won't renew its Phoenix Suns sponsorship if owner Robert Sarver stays on

PayPal said Friday that the company will no longer sponsor the Phoenix Suns if owner Robert Sarver remains part of the franchise when his suspension ends.

PayPal said its current partnership deal with the Suns ends after the coming 2022-23 season, meaning it will expire during Sarver's one-year suspension from the NBA. Sarver was suspended this week, plus fined $10 million, after an investigation showed a pattern of lewd, misogynistic, and racist speech and conduct during his 18 years as owner of the Suns.

In a statement, PayPal President and CEO Dan Schulman pointed to his company's "strong record of combatting racism, sexism and all forms of discrimination" and said Sarver's conduct is "unacceptable and in conflict with our values."