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Grizzlies Find New Owner
Posted: 1:17 PM Jun 11, 2012
Reporter: from Tim Staudt
After two consecutive trips to the playoffs and a return to respectability in the Western Conference, Michael Heisley has found a buyer to purchae the NBA's Memphis Grizzlies, according to sources. ESPN reports will sell the team to 34 year old Robert Pera, a technology magnate and is listed by Forbes as one of the 10 youngest billionaires in the world. The price is in the $350 million range. A formal announcement is expected this week. The NBA board of governors must approve the sale. Sources say Pera intends to keep the team in Memphis.
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