Report: Steve Kerr owns a portion of the Suns

Steve Kerr is a candidate for the New York Knicks and Golden State Warriors coaching positions. (G. Fiume/Getty Images) Current TNT analyst and coaching

Steve Kerr is a candidate for the New York Knicks and Golden State Warriors coaching positions. (G. Fiume/Getty Images)

Current TNT analyst and coaching prospect Steve Kerr still owns a small piece of the Phoenix Suns, according to Marc Berman of the New York Post.

Kerr's stake is believed to be less than one percent of the team, and he has been given a time frame to divest himself from the organization should he choose to become the head coach of the New York Knicks or Golden State Warriors.

Current Suns owner Robert Sarver said that Kerr, who was the Suns GM from 2007-'10, helped him when he began the process of buying the team, and became financially invested himself.

“We’re partners,’’ Sarver told The Post. “A modest partner. But he helped me originally buy the franchise [in 2004] and was the individual who introduced me to David Stern and the NBA and helped me negotiate the deal.’’

ROWLAND: Report: Steve Kerr finalizing contract to become head coach of the New York Knicks

It is believed that Kerr will receive a formal offer from the Knicks by Friday, although he is still expected to meet with the front office of the Warriors before making a decision on his future.