League approves sale of Grizzlies to billionaire Robert Pera

1 Comment

Robert Pera, you got yourself an NBA team. At age 34. Thanks for making the rest of us feel like slackers.

At its Board of Governor’s meetings this week — where the owners get together and decide all things NBA — they formally approved the sale of the Memphis Grizzlies to billionaire Robert Pera.

“We are delighted that the NBA’s Board of Governors has approved Robert Pera’s purchase of the Grizzlies,” said NBA Commissioner David Stern in a released statement. “Robert will no doubt bring great energy and passion to the franchise. He has assembled an ownership group with very strong local ties, and we anticipate that their commitment to the Memphis area will greatly benefit both the team and the community.”

While the sale price is not public it is believed to be in the $350 million range. When the stock price for Pera’s company Ubiquiti Networks took a hit in recent months, some thought threatening the sale, Pera brought in a number of minority owners included some from the Memphis business community as well as celebrities such as Justin Timberlake and Peyton Manning and his wife (she and Timberlake are Memphis natives). Also in is former NBA player Penny Hardaway.

Outgoing owner Michael Heisley is not exactly going to be missed by the fan base. He had a reputation for being stingy and making unpopular decisions with players. However, in the last few years the Grizzlies have been built into a solid team.

That is not a team that is moving — Pera reportedly has no plans to move the franchise to another city. It would be painful to do so anyway, the Grizzlies have a rock-solid lease with the FedEx Forum through 2021. At least nine more seasons.

But we don’t know what other changes Pera may want to make in the organization.

Pera is a former Apple engineer who founded wireless company Ubiquiti Networks, which is where he made his money primarily selling in developing countries. According to a Forbes Magazine profile he is an avid basketball fan who lives a very 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.

Owning an NBA team is a big frill.

Pelicans signing center Jerome Jordan

Marc Gasol, Jerome Jordan
Leave a comment

Through the first two weeks of training camp, the Pelicans have seen their frontcourt depth decimated by injuries to Alexis Ajinca and Omer Asik, both of whom are out for a few weeks. A deal with Greg Smith fell through after he failed a physical. Now, Yahoo’s Marc Spears reports that they’re signing former Knicks and Nets center Jerome Jordan as a short-term solution:

Jordan has only played 65 games in his career and hasn’t been spectacular, but the Pelicans need a body while their two centers are out. Anthony Davis will spend some time at center, but considering the contracts Asik and Ajinca got this summer, Alvin Gentry clearly plans on playing him at power forward as well, and they need a center to at least fill time before Asik and Ajinca get back.

Kevin Love unsure about opening-night return

Kevin Love
Leave a comment

He’s back in practice with the Cavaliers, but there’s still no clarity on whether Kevin Love will be available for the season opener. Love had shoulder surgery in April after suffering a torn labrum in Game 4 of the Cavs’ first-round series against the Celtics, and doctors initially gave him a timetable of four to six months for a return. The six-month end of that is right around opening night (October 27), but Love still doesn’t know whether he’ll be able to play against the Bulls—although he is hopeful.

Via the Sporting News‘ Sean Deveney:

“I feel pretty good,” Love told Sporting News. “As far as the opener goes, I am not completely sure. I’ll probably get with the doctors and see what they have to say. I know that my six-month post-op is coming up here pretty fast. As far as getting the strength back, getting the range of motion, I feel pretty good, so I am looking forward to getting into some more contact, getting into a rhythm and getting out there as quickly as I can.”

Love has been cleared for 3-on-3 practices, but not yet for 5-on-5. If it were up to him, he’d be back on the court, but he understands he needs to follow the rehab protocol for his injury.

“(Six months is) just a ballpark figure that has generally been thrown out there by anybody who has talked about the rehab process for this kind of an injury,” Love said. “I like to think that I am ahead of the game, but there’s different tests and the due diligence that the doctor will go through and the training staff will go through. So all I can do is go out there every day and attack my rehab and hopefully I will be able to go out there and help these guys as soon as possible.”

At the very least, the Cavs will be without Kyrie Irving (still recovering from knee surgery) and Iman Shumpert (out up to three months with a wrist injury), and probably Tristan Thompson too, unless his contract situation changes unexpectedly. So having Love available would be some much-needed good news. But it’s more important that Love (and everyone else) is healthy for the playoffs. If he’s not ready to play, there’s no need to rush back for an October game.