This is nice in theory and all, but I would have to imagine that Sarver's attorneys have language in their operating agreement that would prevent or make it extremely difficult for the the limited partners to remove him from his role. And even if there was a way, it would have to be up to those partners (who Sarver himself likely secured and has business/personal relationships with) to make such a move not the city.
The only way Sarver can likely be forcefully removed would be from Adam Silver and the 29 other NBA franchises. The good news is I think it could be reaching that point especially since we are looking likely at being one of the worst teams in NBA history this year.
Oh, there is no way Sarver can be forcibly removed under the ownership group's governing documents. The key would be to incentivize Sarver's voluntary resignation as Managing General Partner. That is why I say give them the following options:
1. Keep the current ownership and management structure, in which event the arena deal is rejected; or
2. Have Sarver step down as Managing General Partner and replaced with one of the ownership group, hire an autonomous President of Basketball Operations, and the arena deal is approved with some additional city funds thrown in.
If the ownership group chooses option 1 and decides to move the team or continue to run it into the ground, we are likely better off without the Suns, in my opinion.