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What led to Robert Sarver's suspension (2:57)

The allegations led to the suspension of the Phoenix Suns and Mercury. There is a time and a place for it.

12:42 PM ET

Robert Sarver, the owner of the NBA's Phoenix Suns and the WNBA's Phoenix Mercury, has begun the process of selling them.

"As a man of faith, I believe in repentance and the path to forgiveness," he said. I expected that the commissioner's one-year suspension would allow me to focus, make amends and remove my personal controversy from the teams that I and so many fans love.

"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 overshadowed by things I have said in the past." I'm starting the process of finding buyers for the Suns and Mercury.

An NBA investigation found that he used the N-word at least five times and that he was fined $10 million.

There were instances of inequitable conduct toward female employees, including sex- related comments and inappropriate comments on employees' appearances.

"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."

An investigation was commissioned by the NBA in the wake of allegations of racism and misogynistic behavior by the owner of the team.

The NBA's punishment wasn't severe enough according to Chris Paul and Draymond Green. The Suns' jersey patch sponsor threatened to end their partnership if the team's owner was still alive. The Suns minority owner called for the resignation of the team's CEO.

"I don't want to be a distraction to these two teams and the fine people who work so hard to bring the joy and excitement of basketball to fans around the world." I want to know what's best for the two organizations, the players, the employees, the fans, the community and my fellow owners. This is the best way to go.

I will continue to support the community and become a better person in the meantime.