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Report: Grizzlies’ owner Heisley will sell team to young billionaire Pera

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Robert Pera is a 34-year-old billionaire about to own an NBA team. So, what have you been doing with your life?

In a move that Grizzlies have have both hoped for and feared (because the new owner might try to move the team), owner Michael Heisley has apparently found a buyer and will sell the team. So reports Marc Stein at ESPN.

Sources told ESPN.com that Heisley has an agreement in principle to sell the team to communications technology magnate Robert Pera, who at 34 has a spot on Forbes’ list of the 10 youngest billionaries in the world.

The purchase price is in the $350 million range, sources said. A formal announcement to publicize the agreement between the parties is expected this week, possibly as soon as later Monday, with NBA Board of Governors approval then required before Pera can be officially installed as successor to Heisley, who recently turned 75.

Sources say that Pera intends to keep the team in Memphis. The Grizzlies’ lease at the FedExForum, furthermore, ties the team to the city until the year 2021, with steep financial penalties attached to breaking that lease.

That last paragraph is the key — the Grizzlies will not be on the move.

As this team is locked in place for a while, this move could be a good thing for the Grizzlies, a franchise already on the upswing but could different energy and change at the top. Heisley was far from loved by fans. Pera reportedly is an avid basketball player.

We don’t know much about Pera, other than he is a former Apple engineer who founded wireless company Ubiquiti Networks, which is where he made his money. According to Forbes he lives a very stripped-down, no frills life — leases his car, lives in a one-bedroom apartment, the kind of guy who doesn’t check a bag when he travels. Which could be interesting in the frill-filled life of the NBA.

But he could be a real breath of fresh air and help take an already good Grizzles team to new heights.

DeMar DeRozan just missed spectacular in-game 360 poster dunk (VIDEO)

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Can a missed dunk attempt be brilliant?

DeMar DeRozan says yes.

The Toronto Raptors guard almost pulled off an in-game 360-dunk over a defender during the USA’s latest rout of China in an Olympics tune-up game. How impressive was the dunk? Ask LeBron James.

Kevin Durant shines in first game at new home Oracle Arena, USA routs China again 107-57

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OAKLAND, Calif. (AP) — Cheered all night long by his basketball-crazed new fan base, Kevin Durant knocked down a 3-pointer on the Americans’ first touch and slammed home a dunk the very next time down the floor.

Then, another pretty one-handed jam just a few minutes after that.

What a performance for Golden State’s latest big star to help lead the U.S. Olympic team past China 107-57 on Tuesday night for a third dominant victory in as many exhibition games.

Durant, who finalized his two-year contract with the Warriors on July 8, scored all 13 of his points during a 13 1/2-minute span of the first half while playing his first game at his new home, Oracle Arena.

He was the first American player back on the floor after halftime to get in some more shots, all while Warriors general manager Bob Myers stood close by along the sideline.

Booed in Los Angeles a couple days back, Durant received a far more friendly reception in the Bay Area he will now call home. He emerged for pregame warmups to huge roars. He departed the court before the game to a swarm of autograph hounds hanging over the railings in the tunnel – and kindly obliged. One person held a sign that read, “KD is not a Villain.”

Durant received a rousing standing ovation when introduced along with Warriors All-Stars Draymond Green and Klay Thompson.

Also cheered was former Golden State forward Harrison Barnes, part of this past season’s runner-up team that squandered a 3-1 series lead to the Cleveland Cavaliers to miss out on a repeat title.

The sellout crowd went nuts again when Durant checked back into the game at the 2:32 mark of the third quarter.

Mike Krzyzewski’s latest star-studded roster sure looks untouchable just more than a week before the Rio Games begin.

Chants of “M-V-P! M-V-P!” greeted Durant in the building where Stephen Curry has won the past two NBA MVPs, becoming this first unanimous winner last season.

Curry – who opted out of playing for the Americans in their Rio Olympic run – had a courtside seat to watch with his wife, Ayesha.

Two-time Olympic gold medalist and former Warriors star Chris Mullin was in the house sitting next to Mitch Richmond.

Warriors assistant coach and former member of the Thunder staff Ron Adams was an early arrival to watch Durant’s warmup routine. At his introductory news conference, Durant joked, “Ron Adams was the only reason I came.”

Before joining Golden State, Durant and the Oklahoma City Thunder blew a 3-1 lead to the Warriors in the Western Conference finals. He is ready to chase a championship with Curry and Co.

Green, joined on the court by Durant and Thompson, took the microphone before tipoff to thank the fans.

“We appreciate the support,” he said. “We look forward to going on to Rio and winning the gold.”

It will be the second straight Olympics the Americans have three teammates on the roster. Durant, James Harden and Russell Westbrook represented the U.S. four years ago at the London Games.

The next stop for Krzyzewski’s team will be in Chicago to face Venezuela on Friday night at United Center before wrapping up its pre-Olympic tour against Nigeria on Monday in Houston.

China, which lost to the Americans 106-57 on Sunday, and the U.S. also meet in their Olympic opener Aug. 6.

A moment of silence was held for former Warriors great Nate Thurmond, a Hall of Famer who died earlier this month at age 74 after a short bout with leukemia.

Dion Waiters explains decision to sign with the Heat in an Instagram post

OKLAHOMA CITY, OK - MAY 24:  Dion Waiters #3 of the Oklahoma City Thunder reacts in the first quater against the Golden State Warriors in game four of the Western Conference Finals during the 2016 NBA Playoffs at Chesapeake Energy Arena on May 24, 2016 in Oklahoma City, Oklahoma. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Ronald Martinez/Getty Images)
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On Monday, Dion Waiters agreed to a one-year, $2.9 million deal with the Heat, far less than most people thought he would get as one of the few significant free agents still on the market. Tuesday afternoon, he posted an explanation on Instagram for his deal.

Here’s what he said:

I didn’t do it for the money… I did it for the opportunity to go out & ball & have fun. Everything else will take care of its self!!! I just felt like it was the best situation for me…& my family. I could have waited & got wat I wanted. But I rather be happy then miserable at the end of the day!!! Meaning Yu can have everything & still not be happy… #heatnation let’s get it!!! #provethemwrong #stamped #Philly

It seems clear, based on the market, that the kinds of offers Waiters was hoping for weren’t out there for him. In Miami, with Dwyane Wade gone, he’ll probably start at shooting guard and have plenty of opportunities to prove himself in hopes of landing a long-term deal next summer.

Report: Celtics sign second-round pick Demetrius Jackson to four-year deal

PHILADELPHIA, PA - MARCH 27:  Demetrius Jackson #11 of the Notre Dame Fighting Irish walks to the bench late in the second half against the North Carolina Tar Heels during the 2016 NCAA Men's Basketball Tournament East Regional Final at Wells Fargo Center on March 27, 2016 in Philadelphia, Pennsylvania.  (Photo by Elsa/Getty Images)
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While we wait for the Celtics to make a bigger move to trade for another star, they’re filling out the end of their roster. Sheridan Hoops’ Michael Scotto is reporting that they’ve signed Demetrius Jackson, the No. 45 pick in last month’s draft, to a four-year deal.

Jackson declared for the draft after his junior season at Notre Dame. Talent-wise, he has the chance to be a major steal for Boston — DraftExpress has him ranked as the 17th-best overall prospect in this year’s draft class. But he might not play much his first year. The Celtics’ roster is already crowded and there’s still the chance that they’ll make another move with some of their much-vaunted assets if the right star becomes available.