Dec 23, 2024; Memphis, Tennessee, USA; Memphis Grizzlies forward Santi Aldama (7), forward Jaren Jackson Jr. (13), guard Ja Morant (12), guard Desmond Bane (22) and forward Jaylen Wells (0) huddle during the fourth quarter against the Los Angeles Clippers at FedExForum. Mandatory Credit: Petre Thomas-Imagn Images Petre Thomas-Imagn Images

Memphis Grizzlies Expected to Make $550 Million Decision

Originally posted on Memphis Grizzlies on SI
By Liam Willerup | Last updated Aug 19, 2025 3:23 PM ET

Looking at franchises like the New York Knicks, Boston Celtics, and Los Angeles Lakers, it's clear that nothing drastic will be happening with them any time soon. Even though both the Celtics and Lakers had recent sales, their presence in an already big market means they won't be leaving their respective city ever, quite honestly.

However, with smaller market teams, the fear of a relocation to another city always looms. The Seattle Supersonics were a very popular franchise in the Pacific Northwest, but the sale of their franchise led them to relocate to Oklahoma City. Looking to avoid any potential relocation, the Memphis Grizzlies are taking precautionary measures to ensure Memphis is their home.

A Nine-Figure Investment For The Grizzlies

Some major Grizzlies lease reporting by @samhardiman https://t.co/xCOsVFOAN0
— Drew Hill (@DrewHill_DM) August 19, 2025

According to the Daily Memphian's Samuel Hardiman, the Grizzlies and the City of Memphis, "have a plan for spending $550 million on renovations to FedExForum and an understanding of a long-term agreement to keep the team in Memphis beyond the 2028-29 NBA season."

The Grizzlies first began as a franchise during the 1995-96 season, starting off in Vancouver, Canada. Across their first four seasons, the Grizzlies would win fewer than 20 games in each of them, and never won more than 23 games during their six-year stint in Vancouver. With attendance taking a drop and the franchise losing money, relocation seemed like the only option.

RVR Photos-Imagn Images

The Memphis Grizzlies became official during the 2001-02 season , led by standout rookie Pau Gasol. While they've had multiple 50-win seasons since moving to Memphis, it's evident that Memphis still isn't a major market. Therefore, spending $550 million to renovate the stadium and keep the facilities up-to-date improves their case for staying in Memphis.

What Does This Mean For Other Teams?

Portland Trailblazers are selling for a "valuation of over $4B" to Carolina Hurricanes owner Tom Dundon, per @ShamsCharania pic.twitter.com/ZLM3tyn8oI
— Bleacher Report (@BleacherReport) August 13, 2025

A team that should take particular interest in this is the Portland Trail Blazers, as a report came out last week that Tom Dundon, the owner of the NHL's Carolina Hurricanes, has agreed to buy the team at a valuation of around $4 billion, per ESPN.

As mentioned in the report, there are plans for Dundon's group to discuss a new arena deal, which would keep the franchise in Portland. The Blazers' current arena, the Moda Center, has been the team's home since 1995, and will likely receive upgrades to keep up with the rest of the venues around the NBA.

With both Portland and Memphis being small markets, they have to make sure they are keeping things fresh and up-to-date for the fans to avoid any discussions of a potential relocation.

This article first appeared on Memphis Grizzlies on SI and was syndicated with permission.

More must-reads: