Robert Sarver has reportedly started the process of selling the Phoenix Suns and the Phoenix Mercury, a move that has been branded as the right move by several personalities.

In a lengthy statement, the 60-year-old announced on Wednesday morning that he is beginning the process of seeking buyers for the NBA and WNBA ballclub.

"Words that I deeply regret now overshadow nearly two decades of building organizations that brought people together -- and strengthened the Phoenix area -- through the unifying power of professional men's and women's basketball," Sarver said, before adding, "but in our current unforgiving climate, it has become painfully clear that that is no longer possible -- that whatever good I have done, or could still do, is outweighed by things I have said in the past," Sarver’s statement read.

No less than NBA Commissioner Adam Silver as well as NBA stars such as LeBron James of the Los Angeles Lakers and CJ McCollum of the NBPA felt that Sarver’s move was the right one. Silver also said that the move is the right next step for the organization and the community.

Sarver’s move comes not long after Silver fined the executive $10 million and suspended him for one year following a lengthy investigation on Sarver’s use of the n-word on at least five occasions while also treating female employees differently.

Those sanctions, something Silver felt was “strong enough,” drew criticism with most believing the embattled team owner deserved something more severe.

It should be noted that Sarver does not own the Suns in full. However, per sources, he has the power to sell the team fully since he is the managing partner. Sarver owns one-third of the team, ESPN and NBA writer Baxter Holmes pointed out.

The process of seeing a new ownership group take over may take several months according to sources cited by ESPN senior writer Ramona Shelburne. However, she also noted that there is no shortage of interested candidates.

Phoenix Suns and Mercury owner Robert Sarver Phoenix Suns and Mercury owner Robert Sarver Getty Images | Christian Petersen