Suns owner Robert Sarver told azcentral sports Wednesday that it’s “highly unlikely” the Suns will pursue a joint basketball/hockey arena with the Arizona Coyotes.

In a one-on-one interview after the Suns announced a contract extension for General Manager Ryan McDonough and the hiring of James Jones as vice president of basketball operations, Sarver said his focus is on an upgrade of Talking Stick Resort Arena.

“This facility was built for basketball,” he said.

Opened in June 1992 as America West Arena, the Suns' downtown home was called US Airways Center from 2006-15. The arena site, which covers 11 acres, underwent a $70 million expansion and improvement project in 2004.

Sarver said building a new arena would have “maybe made more sense” four or five years ago when the cost estimate was $450 million to $500 million. The costs now, Sarver said, are “significantly higher.” Thus his focus on upgrading Talking Stick, which soon will be the second-oldest arena in the NBA.