ShoogarBear
10-02-2006, 05:18 PM
Just a wild guess . . . :lol
Together again
Former Duke teammates Laettner, Davis buy Grizzlies
Posted: Monday October 2, 2006 1:54PM; Updated: Monday October 2, 2006 3:54PM
MEMPHIS, Tenn. (AP) -- Billionaire Michael Heisley announced an agreement Monday to sell his 70 percent share of the Memphis Grizzlies to an investment group headed by former Duke player Brian Davis and including Christian Laettner.
Davis said the sale was worth about $360 million, and he and Laettner are putting $40 million combined of their own money into the project. The remainder will come from investors he did not identify, but Davis said he has lined up the money for the purchase.
The man who played in four Final Fours while at Duke between 1989 and 1992 said at a news conference Monday that he wants Jerry West, president of basketball operations, and coach Mike Fratello to stay with the Grizzlies. He has no immediate plans to change the team.
But this transaction will take several months to complete because the minority owners have the right of first refusal for 60 days from the date they are notified. The sale also must be approved by the NBA, and Heisley said he expects the deal could be completed by mid-January at the latest.
Davis said Laettner also will be talking to the Grizzlies about playing with the team. Laettner, a first-round pick of Minnesota in 1992, has not played in the NBA since the 2004-05 season with the Miami Heat.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
http://sportsillustrated.cnn.com/2006/basketball/nba/10/02/laettner.grizzlies.ap/index.html
Together again
Former Duke teammates Laettner, Davis buy Grizzlies
Posted: Monday October 2, 2006 1:54PM; Updated: Monday October 2, 2006 3:54PM
MEMPHIS, Tenn. (AP) -- Billionaire Michael Heisley announced an agreement Monday to sell his 70 percent share of the Memphis Grizzlies to an investment group headed by former Duke player Brian Davis and including Christian Laettner.
Davis said the sale was worth about $360 million, and he and Laettner are putting $40 million combined of their own money into the project. The remainder will come from investors he did not identify, but Davis said he has lined up the money for the purchase.
The man who played in four Final Fours while at Duke between 1989 and 1992 said at a news conference Monday that he wants Jerry West, president of basketball operations, and coach Mike Fratello to stay with the Grizzlies. He has no immediate plans to change the team.
But this transaction will take several months to complete because the minority owners have the right of first refusal for 60 days from the date they are notified. The sale also must be approved by the NBA, and Heisley said he expects the deal could be completed by mid-January at the latest.
Davis said Laettner also will be talking to the Grizzlies about playing with the team. Laettner, a first-round pick of Minnesota in 1992, has not played in the NBA since the 2004-05 season with the Miami Heat.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
http://sportsillustrated.cnn.com/2006/basketball/nba/10/02/laettner.grizzlies.ap/index.html