Welcome to our new Overlord! (Robert Pera to buy Grizz)

[GrizzledGrizzFan]

I sure hope he's not moving the Grizz any time soon...

http://espn.go.com/nba/story/_/id/80383 ... -grizzlies

[GrizzledGrizzFan]

Follow up piece in the Commercial Appeal:

http://www.commercialappeal.com/news/20 ... isley-has/

[Shemy]

initially seems like he wont move the team, we can only hope this is true

[jman3134]

Yeah, me too. Would be a real shame if he moved the Grizz. Guaranteed for another 9 years at least. (until the lease expires)

[dark-child]

Although it is highly unlikely, the minority owners still have the right to match the offer. By that time there will not be any feasible place to move the team. The Golden State Warriors are moving to San Fran so that is off the table, Sacramento will likely land in Anaheim so no other city will really cut the mustard with the NBA if Memphis is supporting the team.

The Big question is whether this new change will influence needed changes and trades prior to the draft or during the off season?

[Downtown]

This could be a good thing. There is a long lease in place so Memphis is protected for quite a while, and the new owner bought the team knowing full well that there are some large and long contracts in place and it didn't scare him. So I'm assuming that this guy isn't like some new owners where they want to buy a stripped down team that's far below the cap and work on openly advocating a move with a watered down roster that turns off fans.

I personally think you guys in Memphis will be just fine and cheering on your home team for many more seasons. At least I hope so.

[SD2042]

This could be a good thing. There is a long lease in place so Memphis is protected for quite a while, and the new owner bought the team knowing full well that there are some large and long contracts in place and it didn't scare him. So I'm assuming that this guy isn't like some new owners where they want to buy a stripped down team that's far below the cap and work on openly advocating a move with a watered down roster that turns off fans.

I personally think you guys in Memphis will be just fine and cheering on your home team for many more seasons. At least I hope so.

+1




New owner in the city compare to a younger Mark Cuban with an enthusiatic love for bball. Hope this deal works out for everyone involve here. I hope this guy is committed to getting this team to achieve greatness for the present and the forseeable future.

[SD2042]

http://www.forbes.com/sites/kerryadolan ... ra-report/

Profile on the Grizzlies new owner

[dark-child]

I don't know how true it is but I came across some personal information about the guy in which he lives very frugal. He leases a BMW and lives in a 1BR Apt and never packs any luggage on trips.

Like I said I don't know how true these things are and some things you have to be taken with a grain of salt, but I hope his frugality is kept to his personal life and not his willingness to spend when necessary.

[jman3134]

You don't make that much money without taking risks. (spending to get a return on investment)

[SD2042]

I don't know how true it is but I came across some personal information about the guy in which he lives very frugal. He leases a BMW and lives in a 1BR Apt and never packs any luggage on trips.

Like I said I don't know how true these things are and some things you have to be taken with a grain of salt, but I hope his frugality is kept to his personal life and not his willingness to spend when necessary.

As long as the guy isn't a cheapskate like Donald Sterling and blows thru money like he's Isiah Thomas, I can deal b/c the guy should be capable of making smart money work well in the team's favor toward going after a championship.

[Copperhead]

Hopefully he was going in with partners so he'll still be able to buy the team.

The Memphis Grizzlies’ sale to Robert J. Pera, announced this past week, is already in serious trouble, according to league sources. Pera owns Ubiquiti Networks, a Silicon Valley communications technology company. When its stock bottomed out in the last two weeks, his net worth plummeted from $1 billion to $200 million, according to league insiders who say that unless he has some wealthy partners lined up to help him finance the sale, it will likely fall through. In that case, the Grizzlies will continue to be owned by Michael Heisley. Pera agreed to buy the team for $350 million, a figure that raised many eyebrows around the league.

Read more: http://www.nydailynews.com/sports/baske ... z1y4MP9UHM

[dark-child]

This story was tied to a reported desire by Mike Heisley to reacquire Pau Gasol and play him next to Marc Gasol.
While the story originated in the NY Daily News it is simply not believable and would only be totally discounted if the rag originated from the NY Post and Peter Vescey was the author.
We are in the south and capable of doing the math. If Robert Pera is holding 58 million shares at $13.33 a share he is worth north of 700 million. Pera also paid Heisley a 10 million deposit which he would not have done if his financial situation was so fluid. If the sale does not go thru than that is for the best but everyone doubts that it will be because he doesn't have the paper.
Sometimes a story like this is made public in an attempt to have an individual be a little forthcoming with details they don't make known.

[SD2042]

Peter Vescey is about as credible as Stephen A. Smith. Just sports commentators who's jobs are hype up rumors. Nothing more.

[SD2042]

http://www.abc24.com/news/local/story/S ... spx?rss=59

Looks more uncertain now wih Pera's continuing to lose his shares in the stock market.