There are rumors that he is not doing well financially and that the sale could be in trouble, but young tech industry wiz kid Robert Pera, 34, is pushing ahead with efforts to buy the Memphis Grizzlies.
And they will stay the Memphis Grizzlies under a new deal with local investors that Pera has reached, reports the Memphis Commercial Appeal.
Pera has agreed to three provisions: 1) a $100 million penalty if the team is moved, 2) a right of first refusal under which the local owners will be able to match any offer Pera receives to sell the team and 3) the right for the locals to buy the team from Pera at the current price if he wants to move it. All provisions are in effect for the next 15 years.
Pera had said previously he didn’t plan to move the Grizzlies, but these investors will put that deal in writing, not just make it a handshake agreement.
The only hurdle now is getting the NBA to approve Pera as owner. And that may be a high hurdle.
Pera’s company, Ubiquiti Networks Inc., has found itself in hot water because its products were illegally sold into Iran. The other issue is that this and other controversies have dropped the stock price of Ubiquiti, and with it Pera’s worth down to $800 million. Which is a lot, but if you are buying a team for $350 million that’s not as rich as it seems.
The league is still working through the background and other details of the Grizzlies’ sale. But bringing in local investors with this deal is going to help Pera’s cause because he has to pay less and it keeps the Grizzlies in town. Nobody wants to see the team moved to San Jose, or anywhere really.
Dwyane Wade is secure in his legacy. He’s an all-time great, and an extra missed 3-pointer during his farewell tour won’t change anything. (It doesn’t hurt that his resumé already includes subpar 3-point shooting.)
So, when many players would hold the ball, Wade heaved in a halfcourt shot to end the third quarter of the Heat’s 110-105 win over the Spurs on Wednesday. It wasn’t the biggest shot of Wade’s season, but it still mattered plenty.
Miami’s lead when San Antonio began intentionally fouling late? Three.
The Grizzlies blew a 19-point lead in the fourth quarter and a five-point lead in the final 30 seconds of overtime. James Harden scored 57 points, including 18 in the fourth quarter and all 10 of the Rockets points in overtime.
But Jonas Valanciunas saved Memphis from total collapse. He drew a foul on his putback and hit the game-winning free-throw with 0.1 seconds left to give the Grizzlies a 126-125 win Wednesday.
Jimmer Fredette remains a fascination because he scored a ton at BYU eight years ago and… other reasons.
He has been lighting it up in China, and his season there just ended. Now, the former No. 10 pick could return to the NBA after three years away.
John Gambadoro of Arizona Sports 98.7:
Phoenix still needs another point guard, and the 6-foot-2 Fredette looks like one. But he hasn’t shown the playmaking to play point guard regularly. He’s better, and sometimes even effective, off the ball.
Fredette could have stuck in the NBA with a different attitude. His long-distance shooting was an asset.
But he’s also now 30 years old. A new approach likely won’t be enough. His shortcomings, particularly defensively, will be even more pronounced as his athleticism has declined.
The Suns are bad and will remain bad, with or without Fredette. But their younger players have shown signs of progress lately. Fredette’s high-usage style could interfere with their development.
It’s hard to see the upside here other than a brief uptick in attention.
Marcus Smart recently bemoaned the lack of physicality in the NBA.
After Joel Embiid dropped his shoulder into him on a screen, Smart brought some to tonight’s Celtics-76ers game.
Smart shoved Embiid in the back, sending the center to the floor. A cheap shot? Yes. Embiid wasn’t looking. But Smart would surely argue Embiid started it. I also doubt Smart intended to push Embiid from behind. Smart just wanted to get at Embiid as quickly as possible, and Embiid happened to be facing the other way when Smart arrived.
Smart got a flagrant 2 and the accompanying ejection. Embiid received a technical foul.