ESPN.com was the first to report the pending change of ownership, which according to ESPN's report, will cost Pera around $350 million, which he will apparently cover on his own as he doesn't have an ownership group in place.
"I have enjoyed my ownership of the Grizzlies and the support for professional basketball in Memphis,” said Heisley. “I am confident that the franchise will continue its development toward being a perennial championship contender and an important member of the Memphis community. I am particularly gratified that we have put together a team which is poised to continue its improvement. We have an outstanding team of players, coaching staff, and basketball and business management. In Robert, we have a new owner who has expressed a total commitment to build on our success in Memphis.”Pera, who is on Forbes' list of the ten youngest billionaires in the world, will become the youngest owner in the league as long as nothing derails the sales process, which began Monday afternoon when Heisley received an eight-figure deposit from Pera.
“I am excited about the opportunity to build on the work that has made the Memphis Grizzlies a highly competitive NBA team,” Pera said about purchasing the team. “I look forward to getting to know the Memphis community and to continuing the team’s success in Memphis.”
While Pera was born and raised in California near Silicon Valley, it appears unlikely he will attempt to relocate the team to another city, although Heisley admitted that relocation was never brought up during his discussions with the young billionaire.
“This has nothing to do with either staying or it’s moving,’’ Heisley said in an interview with FoxSports. “We still have … nine years left on a contract with the city to stay in the city. I have not yet figured how people … think somebody is going to buy the team and leave. It’s going to be here for a while.’’
Heisley has had previous offers in the past, however he turned most of them down because the potential new owners were interested in moving the franchise to another city and leaving Memphis, the city that Heisley has grown very fond of since bringing the Grizzlies here in 2001.
“It’s very bittersweet,’’ Heisley said of selling the team. “I love Memphis …. I’ve spent a huge amount of money to make the team successful there …. I did it because I love basketball and I love the city of Memphis and the people there, and they’ve treated me fantastic. I have nothing but wonderful feelings …. I’m 75. My son (Michael Heisley Jr.) is not interested in going to Memphis and running the team. So, obviously, at some point it was going to have to be done. And, quite honestly, I thought it was my job to get it done rather than leave it to my heirs."
Under Heisley's ownership, the Grizzlies have made it to the postseason five times and are coming off the two most successful seasons in franchise history, the latest ending in heart-breaking fashion with a Game 7 loss at home to the Los Angeles Clippers in the first round of the playoffs.
However, the team weathered a storm of injuries that included losing Darrell Arthur for the season and missing Zach Randolph for 37 games as to finish 41-25, which was good for a franchise record .621 winning percentage.
“We got to Game 7 and we just came out flat,’’ Heisley said. “I think we should have beaten them but we didn’t …. Everybody wants to dwell on that. I dwell on the fact we had the highest winning percentage in the history of the franchise (41-25 for .621).’’
If the sale is approved, Pera should be able to help take the Grizzlies to an even higher level as he will have plenty of money to spend to keep the roster at a contending and competitive level, something that was a problem for Heisley during parts of his tenure.
What are your thoughts on the potential change of ownership? Will it benefit or hurt the Grizzlies in the foreseeable future? Share your thoughts on the sale below in the comments section.
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