Will the Grizzlies Stay in Memphis?

Post #1 » by **SD2042** » Thu Mar 12, 2009 4:17 am

http://www.wreg.com/wreg-fedexforum-sto ... 5372.story

News Channel 3 did a story on the Grizzlies on whether or not will they stay in Memphis. Obviously if they fail to produce ticket sales and keep good attendance, then by the year 2014, they would be eligible to move the team. Problem with that move is that the taxpayers would be stuck with the taxes of an empty FEF if they decide to move the team out of Memphis. This according to Duncan Ragsdale" taxpayers would be stuck with the costs to build the forum -- $250 million."

"Ragsdale didn't know about this option: if the Grizz can't sell enough seats, the City and County can bail them out, by buying up tickets to make up the difference, costing taxpayers up to $10 million!"

"To spend taxpayer money to buy seats so the Grizzlies have a better balance sheet? That's more of the same," Ragsdale said.

GrizzledGrizzFan · Post #2 » by **GrizzledGrizzFan** » Thu Mar 12, 2009 1:46 pm

If the 3 year plan pans out, the Grizz will be in the playoffs and attendance should be back up.

Yeah, that's me - holding my breath...

bgassassin · Post #3 » by **bgassassin** » Thu Mar 12, 2009 2:20 pm

I wonder if it would be more cost effective to just buy the tickets as opposed to maintaining an arena that only gets income from a college team and some concerts?

jefe · Post #4 » by **jefe** » Thu Mar 12, 2009 4:36 pm

Honestly, I wouldn't believe a word that comes out of Ragsdale's mouth. Beyond that small point, IIRC the contract allows the city/county to purchase seats to avoid the triggering of the option which allows the team to leave - further, the city/county have the right of first refusal in any sale of the franchise. Finally, in Heisley's own words, the Grizz are going to break even financially this year, so I can't see a real economic incentive to move the team in the current economic climate - but in 2014, who knows?

GrizzledGrizzFan · Post #5 » by **GrizzledGrizzFan** » Thu Mar 12, 2009 5:06 pm

Basically the same info with a different slant here:

http://www.commercialappeal.com/news/20 ... t-leaving/

kungriffey · Post #6 » by **kungriffey** » Wed Mar 25, 2009 3:27 pm

say the grizzlies cant stay in memphis....do they go back to vancouver canada?...or another city in the states?

Post #7 » by **jman3134** » Wed Mar 25, 2009 3:29 pm

So James "Moneybags" Pennyworth aka me buys all the remaining tickets. Problem solved.

GrizzledGrizzFan · Post #8 » by **GrizzledGrizzFan** » Wed Mar 25, 2009 9:36 pm

say the grizzlies cant stay in memphis....do they go back to vancouver canada?...or another city in the states?

If a Vancouverite billionaire steps up and buys the team - why not? However, I'd see Las Vegas or Seattle as a far more realistic option.

That said, it's highly unlikely the Grizz leave Memphis in the next 5 years or so.

Downtown · Post #9 » by **Downtown** » Thu Apr 2, 2009 3:10 pm

As much as I would love to see the NBA return here in Vancouver I know realistically it won't happen. David Stern was recently asked about his highlights and lowlights of his 25 years as commisioner and he said his biggest regret in 25 years was that he gave up on Vancouver too quickly. But in his next breath he conceeded that it's highly unlikley the NBA returns to Vancouver.

On one hand I felt vindicated but on another it was dissapointing.

Anyways, I don't see the relocating of the Grizzlies as a serious issue for a number of years at least. It might make for good gossip and rumor but I think Heisley will stick it out for the forseeable future.