Grizzlies' owner reaches deal to sell team - WMC Action News 5 - Memphis, Tennessee

Grizzlies' owner reaches deal to sell team

(WMC-TV) – Grizzlies' owner Michael Heisley has been saying for a while he wanted to sell the team for $350 million. He also promised to find an owner who will keep the Grizz here in Memphis.  A 34-year-old tycoon could just make it all happen. 

"I'm excited. I hope this guy gets caught up and spends a lot of money to keep the players we need and bring others in," Grizzlies' Fan Bruce Thompson said. 

Bruce Thompson, former County Commissioner and Grizzlies season ticket holder says Michael Heisley did what he said he would do. 

"He said he would look for ownership that would leave the team in Memphis and it sound like he's done it," he said. 

Thompson thinks Robert Pera, if approved, will be a good owner. The 34-year-old wireless broadband tycoon loves basketball.  

The talk of Michael Heisley apparently getting the $350 million he wants for the Grizzlies from the founder of the technology company Ubiquiti Networks is the talk of Fox and Hound in East Memphis. 

"They do a lot of good for the city - Beale Street and all that other stuff," fan Scott Mills said. "It'd be a shame now. They're playing so good ball, they're coming as a team, if we would lose them..." 

"I'm actually surprised," Mary Shepard said. "Will they be remaining in Memphis?" 

That is the question everyone here is asking. 

No one really knows, but the penalties for moving the team are pricey, making it unlikely. 

And the sale is not the only Grizz headline. L.A. Lakers player Metta World Peace was spotted in a Vancouver Grizzlies t-shirt over the weekend in Canada. The Grizzlies' left Vancouver for Memphis in 2001.  

I was unable to contact the Grizzlies' minority owners for a comment.  But some people I talked with said it might be good for Pera to keep them as minority owners because they are from Memphis. Pera lives in California.  

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