Robert Pera, the controlling owner of the Memphis Grizzlies, isn’t going anywhere.
Neither are the Grizzlies...for now.
Pera himself announced to MVP season ticket holders, and the Grizzlies to the media some minutes later, that he has chosen to retain his interest in the Grizzlies through the buy-sell process that began several months ago. Minority owners Steve Kaplan and/or Daniel Straus each had the opportunity to put in offers on the team to buy out Pera and he could have sold his stake in the team to one, or both of them. It is unclear which one of the two enacted the clause (it also could have been both of them), but it doesn’t matter now because Pera is sticking around.
Grizzlies controlling owner Robert Pera to retain controlling interest in team. https://t.co/P1TUUvbsrT— Memphis Grizzlies (@memgrizz) April 9, 2018
As are the Grizzlies. From Pera’s letter to fans-
...I am committed to Memphis as an NBA market and as the home of the Grizzlies.
Music to the ears of many weary fans after a long season.
There is no guarantee that long-term Pera keeps the squad in Memphis. He has attended far fewer games of the Grizzlies actually in Memphis than many fans would like to see, and the uncertainty this situation brought about has hovered over the organization all season long. Now, though, at least there is clarity with regard to who is the final ultimate decision maker moving forward. He is committed to Memphis at least for the life of the FedExForum lease one would imagine (roughly another ten years), and he is committed to trying to turn the team around as quickly as possible.
Will Chris Wallace be the GM moving forward, or J.B. Bickerstaff the coach? Maybe. But at least for this moment, Grizzlies fans can breathe a sigh of relief that finally there is a bit of direction for the franchise heading in to a key offseason.
This is a good thing, Memphis. Now the fun begins.