Michael Heisley

Sale of Grizzlies to Robert Pera finalized for $377 million

3 Comments

Michael Heisley bought the team in 2000 for $160 million. In January of this year, Forbes estimated the Memphis Grizzlies to be worth $269 million. Monday the sale of the Grizzlies from Heisley to Robert Pera became official — at a price of $377 million, according to the Commercial Appeal. For those of you scoring [more]

Heisley says age, health motivated him to sell Grizzlies

7 Comments

The announcement was not a shock — Michael Heisley has been looking to sell the Memphis Grizzlies for a few years now, he has gone down the road more than once only to turn back for various reasons. But the announcement that he was selling the team to young tech billionaire Robert Pera was unexpected. [more]

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

7 Comments

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 [more]

Of course Michael Heisley is in talks with Larry Ellison, things were going too well

15 Comments

Best season in franchise history from an overall success and excitement standpoint. First playoff game victory. First playoff series victory. Significant improvements in fan interest and long-term viability of on-court production. Things have been going really well in Memphis, Tennessee when it comes to the Grizzlies. So, of course, this is happening. From the Memphis Commercial-Appeal: [more]

NBA franchise values, where some owners can make bank

1 Comment

It’s one thing left out of the calculations on whether an NBA owner is making money on his franchise — the money he makes on the worth of the franchise. It’s complex, it’s changing, but the fact remains that a lot of NBA owners have already made tons of money on their teams because what [more]