Pera rarely comes to games and does not seem particularly connected to the franchise or the city. In order to persuade local owners to kick in money to buy the team from Heisley, Pera — and this is according to an NBA document from October, 18, 2012 — “has granted a call right to the other owners at a price equal to his invested capital in the event he files with the NBA to relocate the team within 15 years of the closing date of the transaction.” In other words, if Pera tries to move the team any time before 2027, the local owners could — and certainly would — buy it from him for the money Pera put into the team. Starting Thursday, two Memphis Grizzlies minority owners can begin a process to attempt to purchase the team from controlling owner Robert Pera, sources told ESPN. Word out of Memphis this past summer already was Marc Gasol and Coach Fizdale were on very poor terms after some confrontations in practice. A: I doubt it. Michael Jordan, the only black majority NBA owner, was a prominent voice during the NBA players' decision to boycott the last three days of the NBA Playoffs. No, he hasn’t lived up to his early promises to get involved in Memphis and to be transparent in the way he runs the team. According to the report, Straus and Kaplan had the ability to exercise the option as early as October but decided to do it last week. That buy-sell arrangement — which was suggested by former NBA commissioner David Stern, as a safeguard in case the Kaplan and/or Straus didn’t like being minority owners with Pera — kicks in “after five years, and every three years thereafter.” Pera bought the team in October of 2012, which is why it’s coming up now. Would the local owners have to account for that increased equity in their purchase? The Houston Rockets sold for $2.2 billion. A: Absolutely. Pera owns Ubiquiti Networks — a technology company based in New York. Gasol obviously had a problem with Fizdale and the way he’d been coaching. According to the report, Pera and Marc Gasol know each other well. But few people pretend to know what Pera is thinking. This buy/sell clause could effectively remove Pera from the ownership group. Grizzlies owner Robert Pera gets lots of questions, provides few answers, Stock price for Grizzlies owner's Ubiquiti rallies after clash with Wall Street activist Andrew Left, Your California Privacy Rights/Privacy Policy. One or both are expected to initiate the process within a 60-day window, sources said. “Gasol has always said he has a close relationship with Pera and speaks to him regularly,” the report said. They drafted and developed Mike Conley Jr. and Gasol, traded for Zach Randolph and Tony Allen in free agency and created a cult favorite team among NBA fans. The Commercial Appeal. Please also read our Privacy Notice and Terms of Use, which became effective December 20, 2019. The situation comes on the heels of the Houston Rockets' record sale of $2.2 billion, which lifted franchise values in the NBA. Q: Why do you even bring that up? The coaches they’ve been through are just the tip of the iceberg. The only murky part is price. Obviously, if Kaplan makes a lucrative bid, either he or Pera — whomever emerges with the team — would ultimately have more equity in the franchise. That deal ultimately fell through, and Kaplan went on to purchase a controlling interest in Swansea City, a Premier League soccer club in Wales. Good for him. Secret Base Reviews: NFL 2K5 First Person Football. My guess is the league will continue to try and broker an agreement. Seattle wants — and will almost certainly get — another NBA team and has an agreement in place to build a new arena by 2020. But the timing here certainly is odd. Since buying the team in 2012, the Grizzlies have run through head coaches. It makes sense that they would. The helmet mode gave you a new experience at each position. Memphis Grizzlies owner Robert Pera might be forced to sell the team soon, This pro wrestler pooped himself mid-match, then turned it into the promo of the year, "I’m going to have to check my underwear because I may have sharted.".