Found June 11, 2012 on
Pro Sports Daily:
Owner Michael Heisley entered a purchase agreement to sell the Memphis Grizzlies to communications technology billionaire Robert Pera. Sports Business Journal first reported the pending move, with a purchase price between $340 million and $355 million. Pera is a hoops fanatic and plans to keep the team in Memphis. The Grizzlies would face significant penalties for breaking their lease at FedExForum before the current deal expires in 2021. Pera, 34, started Ubiquiti Networks at age 25 after leaving his engineering job at Apple. The manufacturer of wireless products focuses on underserved and emerging markets. Heisley, 75, is based in Chicago and bought the Grizzlies in 2000, when they were based in Vancouver. He relocated the team to Memphis in 2001.
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Memphis Grizzlies owner Michael Heisley finally may have found a buyer for his NBA team.
The majority owner of the Grizzlies told The Commercial Appeal Monday that he has talked with billionaire Robert Pera but there is no contract ''at this point.'' ESPN.com reported that sources say Heisley has an agreement to sell the Grizzlies to Pera for approximately $350 million...
According to ESPN's Marc Stein, owner Michael Heisley has finally found a suitor to buy the Memphis Grizzlies. It will be 34-year-old billionaire Robert Pera.Pera works with communications and technology and ranks in the Top 10 on Forbes as the youngest billionaires. The Grizzlies have made the playoffs for two years in a row and could be a legit Finals-contender. With that,...
Memphis Grizzlies majority owner Michael Heisley says he has an agreement to sell his NBA team to a group headed by California billionaire Robert J. Pera.
Heisley announced the agreement Monday afternoon after reports that he finally had found a buyer for the team he moved from Vancouver to Memphis in 2001.
The sale is subject to approval by the NBA Board of Governors and other...
The Memphis Grizzlies could begin next season under new ownership, as the “Memphis Commercial Appeal” reported Monday afternoon that Team Owner Michael Heisley is currently negotiating to sell the team to the founder and owner of a communications network. According to the report, Heisley is trying to complete a deal with 34-year-old Robert Pera, owner of communications technology...
MEMPHIS, Tenn. (AP) -- Memphis Grizzlies owner Michael Heisley finally may have found a buyer for his NBA team.
The majority owner of the Grizzlies told The Commercial Appeal on Monday that he has talked with billionaire Robert Pera but there is no contract "at this point." ESPN.com reported that sources say Heisley has an agreement to sell the Grizzlies to Pera for approximately...
Doesn’t it seem like Michael Heisley’s Memphis Grizzlies have been collecting dust on the back shelf for the entirety of their existence? Well guess what, folks—the franchise has finally been sold, and to one of the world’s youngest billionaires. At age 34, Robert Pera will be just four years older than Zach Randolph, the best player on his brand new basketball team...
Memphis Grizzlies owner Michael Heisley said he reached an agreement Monday to sell the team he has owned for the past 12 years.
Heisley said a contract was signed with billionaire Robert J. Pera. He said it was not discussed whether Pera ever might move the team, but that Grizzlies have an ironclad contract to remain in Memphis until at least 2021.
I have stepped aside from my...
(Photo by Kevin C. Cox/Getty Images)
The Memphis Grizzlies have announced that the team will be sold. Michael Heisley has sold the Grizzlies to Robert Pera and the sale will become final once approved.
Michael E. Heisley, the majority owner of the Memphis Grizzlies, announced today an agreement for the sale of the franchise to an entity owned by Robert J. Pera. Robert...
Rudy Gay is entering the third-year of a five-year deal.
It seems that Ron Artest/Metta World Peace was in Vancouver and decided to show love by rocking the mic wearing a Grizzlies jersey.
To check out this photo, please click the link below.
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The best trades in any professional sport, are transactions that help all teams involved and a deal that I touched upon in an earlier article, just might be a move that could help two franchises in the Association. The deal that I proposed, would send Boston Celtics All-Star forward to the Memphis Grizzlies in exchange for their talented young forward Rudy Gay.
The trade could help...