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Pera's Status as Potential Owner

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Pera's Status as Potential Owner 

Post#1 » by SD2042 » Thu Aug 16, 2012 1:12 am

http://sports.yahoo.com/blogs/nba-ball- ... --nba.html


In June, the Memphis Grizzlies announced that the franchise was in the process of being sold to Silicon Valley near-billionaire Robert Pera. While Pera lives and works in Northern California, he promised not to move the team, which had been feared. These were all good developments for the Grizzlies, an improving squad building a fan base in a relatively small market.

However, this sale looks less and less likely to be improved. The reasons aren't minor, either, because Pera is losing worth at a rapid rate. Oh, and his company Ubiquiti Networks also did business in Iran. From Diana Samuels for SportsBusiness Journal, as published on SportingNews.com (via EOB):



If this guy loses more money in the upcoming months, he will not be able to afford to become the new Grizzlies owner.

At this point, this city needs to come together and find the best profile ppl who have enough money to come together and perhaps buy the Grizzlies as a group. Only thing it's been easier said than done these past few years.
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Re: Pera's Status as Potential Owner 

Post#2 » by jefe » Sat Aug 18, 2012 9:16 pm

Unless I'm mistaken, he's not actually losing money - rather the value of his company's stock has been dropping. Obviously, his net worth is largely tied to the stock; however, the stock itself isn't going to cover operating expenses - which leads to the real issue, what is the value of his liquid assets?

If his company has been as profitable as report, it's conceivable he's paid himself a handsome salary and/or paid out the company's earnings as stock dividends over the years leading to a nice stash of cash; but will it meet the muster of the Board to approve his ownership application?
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Re: Pera's Status as Potential Owner 

Post#3 » by dark-child » Sun Aug 19, 2012 5:55 pm

As we are learning with the Facebook IPO, there are restrictions regarding trading stock of a public company. I do not pretend to know the ends and out of such details but as the CEO he would have to announce his sale of such a large quantitiy of shares that would further spook investors regarding the stability of his company. It is possible that depending on the percentage of share he owns ( I think he owns 55%) he made most of his personal wealth from the IPO which means he already has an infusion of cash north of 500 million and thus his willingness to invest in the grizzlies. This is just a guess and I love the fact that he does not talk as we introverts have got to stick together.
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Re: Pera's Status as Potential Owner 

Post#4 » by GrizzledGrizzFan » Tue Aug 21, 2012 3:07 pm

Scooby Doo (err Ron Tillery) says Ruh Roh...

Tweets were from 8/20 around 3 PM CT

Commercial Appeal ‏@CAGrizBlog
Heisley on Griz sale: "I would say it's more likely than not likely to happen. I'll go through the process and if it happens, it happens."

Commercial Appeal ‏@CAGrizBlog
Michael Heisley made comment recently at a youth hoops camp in Peoria, IL

Not shouting "gloom and doom", but not exactly the ringing endorsement it once was...
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Re: Pera's Status as Potential Owner 

Post#5 » by GrizzledGrizzFan » Thu Aug 23, 2012 1:25 am

Breaking good news...

Local ownership group coming together nicely with 15 yr agreement from Pera - YES!!

http://www.commercialappeal.com/news/20 ... ies-owner/
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Re: Pera's Status as Potential Owner 

Post#6 » by jefe » Thu Aug 23, 2012 12:38 pm

GrizzledGrizzFan wrote:Breaking good news...

Local ownership group coming together nicely with 15 yr agreement from Pera - YES!!

http://www.commercialappeal.com/news/20 ... ies-owner/


Awesome news. Hopefully, if Pera's bid was in trouble of being denied, this infusion of other owners/capital will ensure the sale get the Board's approval.
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Re: Pera's Status as Potential Owner 

Post#7 » by Rondo2Hondo » Thu Oct 4, 2012 5:54 pm

Penny Hardaway, Peyton Manning, and Justin Timberlake also pitching in as part of the ownership group.

It looks like the Grizzlies are going to have the coolest ownership group out there - Penny was my teenage basketball idol.
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Re: Pera's Status as Potential Owner 

Post#8 » by SD2042 » Sat Oct 6, 2012 11:21 pm

http://sports.yahoo.com/news/ap-source- ... --nba.html

This link says Manning's wife Ashley is the one that's involve in the new group. Either way, it's fine with me that more ppl are getting behind the Grizzlies.
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Re: Pera's Status as Potential Owner 

Post#9 » by jefe » Sun Oct 7, 2012 3:06 pm

Rondo2Hondo wrote:Penny Hardaway, Peyton Manning, and Justin Timberlake also pitching in as part of the ownership group.

It looks like the Grizzlies are going to have the coolest ownership group out there - Penny was my teenage basketball idol.


With Peyton on board, we can retire the tshirt cannon :D
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Re: Pera's Status as Potential Owner 

Post#10 » by GrizzledGrizzFan » Tue Oct 23, 2012 5:07 pm

The matter is supposed to go before the NBA BoG tomorrow or Thursday.
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Re: Pera's Status as Potential Owner 

Post#11 » by jefe » Fri Oct 26, 2012 12:33 pm

Approved. The word from the CA is that Stern will be in town November 5 to introduce Pera as the new owner in conjunction with the home opener.

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