If 'Reasonable' Offer Is Made, Heisley Will Sell Grizzlies

[Kai]

http://basketball.realgm.com/src_wir...ell_grizzlies/

If 'Reasonable' Offer Is Made, Heisley Will Sell Grizzlies


Grizzlies owner Michael Heisley doesn't plan on passing the team down to his family upon his death.

He was asked in a wide-ranging interview with the Memphis Commercial Appeal whether selling the team was a possibility.

"I'll reiterate my position again. I'm 73 years of age. My family is not going to take over this basketball team. My point is very simple," he said. "If the right person makes a reasonable offer for the team I will sell it. If the minority (local) owners want to come up with a reasonable offer, I would love to sell it to them. I think they would make great owners. If it's not to be, it's not to be.

"Quite frankly, I don't have to sell this team. I'm not in any financial difficulty. We have to be a model for what has to be done in the new era of pro basketball when teams are losing the kind of money they're losing. Some people have got to be more fiscally responsible. We've lived within the rules. I've taken the heat. Everybody says I'm cheap. But I've shown that it does you no good to just go out and spend huge amounts of money."

Read more: http://basketball.realgm.com/src_wir...#ixzz0hbWZ6fmm

[mogrovejo]

He's right, he's been saying that for awhile.

Michael Jordan bought the Bobcats for $175 millions. Mr. Johnson had paid a $300 millions expansion fee 7 years ago - not the greatest financial investment. Is this the first time a NBA franchise is sold at loss since Bird/Magic/Stern? I think it is, at least I can't remember another case.

The NBA needs either deeper revenue-sharing mechanisms or cost controls measures (read less money for the players) to the point that every team is profitable (with extremely rare exceptions).

I think players will be the ones paying for it even though they probably shouldn't be.

[Kai]

The new owner should move the Grizzlies to Seattle and make them the Sonics. Then they should switch divisions with the Thunder.

[Dex]

Two bits!

[Indazone]

Yeah, Seattle deserves a franchise. Besides even if they don't change the name, it fits a lot better up there.

[Darthkiller]

The new owner should move the Grizzlies to Seattle and make them the Sonics. Then they should switch divisions with the Thunder.

this