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Report: Larry Ellison Out of the Running to Buy the Memphis Grizzlies

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It sounds like "we ain't a-goin' nowhere!" Or at least it appears as if billionaire Larry Ellison is no longer in the discussion to buy the Memphis Grizzlies, meaning for now we don't have to worry about this team up and moving in the middle of the night. At least, for now.

Details per Ronald Tillery:

[Heisley]’s instructed his attorney, Stan Meadows, to stop negotiating with Oracle founder Larry Ellison because of Ellison’s repeated overtures about relocating the team.

"We’re not even considering Ellison," Heisley said. "This team cannot be moved."

Ellison recently signed a confidentiality agreement with Heisley and began an exploratory process to buy the Grizzlies. It was at least the third time Ellison inquired about the team over the past several years.

Heisley, who is asking for $350 million, acknowledged that there is one other suitor.

"But I don’t know how if he’s serious," Heisley said. "I think I’ll own the team for a while."

Well, that's a relief. I don't think it seemed like the move got to an "all that serious" point. Sure, anything can be bought, including NBA teams that "aren't going to be moved," but Heisley probably doesn't want that battle. No amount of money seems worth it -- not with the current success this team is having. I could see if they were, say, Bobcat-like in our franchise arch, but you can't move a team in it's so-called prime, who happens to be a title contender and the heart and soul of this city. Can't be done.

This is wonderfully good news, so feel free to wear an extra smile today for the city of Memphis.

via