ESPN is reporting an announcement could come as early as this week from NBA that Michael Heisley will be selling the Memphis Grizzlies to Robert Pera. Pera is a 34-year old billionaire and part owner of Ubiquiti Networks. The price tag is in the $350 million dollar range.
Its good to see a new owner is in place. It should squash all of the rumors of Heisley moving the Grizzlies. Pera will most likely keep the team at FedExForum. The Grizzlies lease with the Downtown arena runs through 2021 and has several expensive clauses that may prevent the team from leaving early. But don't be surprised if rumors start popping up about cities like San Jose and Seattle making a push for Pera to relocate the team.
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Memphis Lagniappe is a hodgepodge of commentary on life in Memphis, sports, food, events, wine and whatever comes to mind. Enjoy your visit.
