Grizz Limited Partners Share Team Diluted

Post #1 » by **SD2042** » Fri Mar 28, 2008 12:42 am

http://www.commercialappeal.com/news/20 ... m-diluted/

GrizzledGrizzFan · Post #2 » by **GrizzledGrizzFan** » Fri Mar 28, 2008 1:22 am

Heard that on Verno's show today. Bummed me out. Heisley's the devil.

Post #3 » by **SD2042** » Fri Mar 28, 2008 4:20 am

Right now, it seems that everything the Grizzlies have done to this point is just down right disasterous. I know we're in the rebuilding process and junk. It's just that they seem hellbent on making more backwards moves than taking better steps forward. With this move by Heisley today, I don't even think he knows what he wants to play this out. Just too much confusion. :nonono:

bobobolas1 · Post #4 » by **bobobolas1** » Fri Mar 28, 2008 11:28 am

It is not rebuilding, it is just going nowhere.

Double Dribble · Post #5 » by **Double Dribble** » Fri Mar 28, 2008 12:39 pm

"or see their ownership percentage drop, as outlined in their agreement with Heisley."

i'm sure many glossed over that little nugget.

GrizzledGrizzFan · Post #6 » by **GrizzledGrizzFan** » Fri Mar 28, 2008 12:44 pm

Double Dribble wrote:"or see their ownership percentage drop, as outlined in their agreement with Heisley."

i'm sure many glossed over that little nugget.

Wasn't glossed over at all MH. Vernon covered the fact that there was a call for payment of debt and local ownership opted to allow their interest in the franchise to cede instead.

What rankles me is that it appears that Heisley turned down an offer from the local group that was lower than the offer that was accepted from the Laetner/Davis fiascoship.

I stand by my statement - Heisley's the devil.

Double Dribble · Post #7 » by **Double Dribble** » Fri Mar 28, 2008 1:45 pm

then no one has anything to complain about.

PhD Griz · Post #8 » by **PhD Griz** » Fri Mar 28, 2008 2:11 pm

didn't i read that the NBA initiated the debt collection, which triggered the lowering of their interest in the team from 30% to 5.8%......

and although I would rather the local owners own 100% of the team, I don't see anything forcing Heisley to sell anything to them, no matter the price they offer....

and clearly heisley isn't an angel sent from the basketball gods to give memphis citizens entertaining and enjoyable basketball....

Double Dribble · Post #9 » by **Double Dribble** » Fri Mar 28, 2008 2:14 pm

if the guys ponied up, they'd still have their 30%. got to take the bad with the good, including debt. now Heisley takes on even more debt, which comes out of his pocket. i'm not buying this article designed to elicit sympathy for the locals.

hptmatthew · Post #10 » by **hptmatthew** » Fri Mar 28, 2008 3:16 pm

Double Dribble wrote:if the guys ponied up, they'd still have their 30%. got to take the bad with the good, including debt. now Heisley takes on even more debt, which comes out of his pocket. i'm not buying this article designed to elicit sympathy for the locals.

I'm not either. It's a little bit of xenophobia Memphis-style. "look at the big bad Yankee man with money, come down here to do us wrong". It seems as though the relationship between Heisley/Meadows and the local group was destined to end (or come close to ending) poorly.

bobobolas1 · Post #11 » by **bobobolas1** » Fri Mar 28, 2008 3:20 pm

PhD Griz wrote:and clearly heisley isn't an angel sent from the basketball gods to give memphis citizens entertaining and enjoyable basketball....