The Memphis Grizzlies had a good year for the second year in a row. They, along with OKC, are proving that small market teams can get it done. The Grizzles have just sold the team, but dont worry, they aren’t leaving Memphis.
The purchase price is in the $350 million range, sources said. A formal announcement to publicize the agreement between the parties is expected this week, possibly as soon as later Monday, with NBA Board of Governors approval then required before Pera can be officially installed as successor to Heisley, who recently turned 75. Sources say that Pera intends to keep the team in Memphis. The Grizzlies’ lease at the FedExForum, furthermore, ties the team to the city until the year 2021, with steep financial penalties attached to breaking that lease.
Source: ESPN
