Wow. Didn't know they were on the block.
No kidding. I had no idea.
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.
. . .
The 34-year-old Northern California native is a former engineer at Apple who left the computer giant at 25 to start his own company. Today Pera owns a reported 64 percent of the Ubiquiti Networks he founded and operates the company out of Taiwan as well as San Jose. Pera speaks Chinese and Japanese and is said to play basketball four to five times per week.
Two things jump out at me:
1. While the lease runs another 10 years, assuming Pera is still owning the team by then, I'm willing to bet he moves the team somewhere closer to the West Coast with a large Asian population. [Seattle might even have a new arena by then.]
2. He's flush, he's young, and he's a hoophead. That could be a great combination for an owner, or it could be difficult for the Grizzlies' GM. Regardless, I bet that Chris Wallace's job parameters/priorities have now drastically shifted.
Topic: Grizzlies to be sold pending league approval - will remain in memphis (Read 1925 times)