Grizzlies prepare for season under new ownership - FOX13 News, WHBQ FOX 13

Grizzlies prepare for season under new ownership

Posted: Updated:
MEMPHIS, Tenn. (FOX13) -

Robert Pera has officially become the majority owner of the Memphis Grizzlies. The sale was worth $377 million.

An announcement is expected in the coming days.

Pera, who announced his intention to purchase the franchise this summer, has spent the past several months assembling a minority ownership group that includes Justin Timberlake, Penny Hardaway, Ashley Manning, Pitt Hyde, Duncan Williams and many others.

The completion of the sale now resolves some of the lingering questions about the franchise's future in Memphis.  Former owner Michael Heisley had the team on the market for some time. According to terms of the deal, the new ownership group has agreed to keep the team in Memphis for another 15 years.

The Grizzlies open their 2012-13 season Wednesday, Oct. 31 in Los Angeles against the Clippers.  The home opener is Monday, Nov. 5th against the Utah Jazz.

Powered by WorldNow

WHBQ-TV | Fox 13
485 S. Highland St.
Memphis, TN 38111

Main Station: (901) 320-1313
Newsroom: (901) 320-1340

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices