Category: Memphis Grizzlies Blog

Memphis Grizzlies Chairman Robert Pera and CEO Jason Levien announced today the roster of Limited Partners that has been assembled to lead the team into an exciting new era in its history.

“We have one of the most dynamic ownership groups in professional sports,” said Grizzlies CEO Jason Levien. “We expect that its members will play a meaningful, ongoing role in realizing the goals we have set for the team and for ourselves, both on and off the court.”

Joining Pera and Levien in the ownership group are:

-Grizzlies Vice Chairman Steve Kaplan

-Staley Cates

-Pace Cooper

-Edward Dobbs

-Steve Ehrhart

-Harold Ford, Jr.

-Al Gossett

-The Hand Family

-Penny Hardaway

-Paul Harless

-Pitt Hyde

-Barry Klarberg

-Ashley Manning

-Joseph Nicosia

-Billy Orgel

-Elliot Perry

-Bill Rhodes

-Michael Savit

-Justin Timberlake

-Mike Wharton

-Duncan Williams

-The Wilson Brothers

“This ownership group will take the Grizzlies to the next level,” said Edward J. Dobbs, CEO of Memphis-based Dobbs Management Service. “Our team is going to thrive in Memphis for a long time.”

Pera was represented on the sale of the Grizzlies by Levien Sports, David Carlock and Jeffrey Pollack, who collectively assembled the team’s new Limited Partner group. Legal counsel was provided by O’Melveny & Myers.

Memphis Grizzlies Chairman Robert Pera announced today that he has named seasoned sports executive Jason Levien as the new Chief Executive Officer and Managing Partner of Memphis Basketball, LLC, which operates the Memphis Grizzlies and FedExForum. In this role, Levien will have leadership responsibility for the entire organization; serve as the ownership group’s Managing Partner and as an Alternate NBA Governor.

“Jason and I share a vision for building a world-class team on and off-the-court,” Grizzlies Chairman Robert Pera said. “He has my complete trust, confidence and support in how best to lead our organization’s efforts.”

“I’m honored to be part of such a dynamic and potential-filled opportunity here in Memphis,” Memphis Grizzlies & FedExForum CEO Jason Levien said. “I appreciate what a special role the Grizzlies and FedExForum play in the Memphis community and I know that we will build successfully on the foundation already in place.”

Levien was, until recently, a co-owner of the Philadelphia 76ers and prior to that he served as an NBA team executive with the Sacramento Kings. Levien spent a decade representing professional athletes, including advising multiple NBA first-round draft picks and high-profile free agents. He serves as a general partner for Major League Soccer’s DC United.  He graduated from Pomona College, where he was a member of the basketball team, and earned a law degree and masters in public policy from the University of Michigan.

Zach Randolph stood on one side of the locker room while Rudy Gay sat about 18 feet away and out of earshot.

When asked separately about how the Grizzlies’ front line, including center Marc Gasol, is playing so far this season, the starting forwards delivered nearly identical answers.

“We’ve got one of the best frontcourts in the league,” Randolph proclaimed.

“If not the best, we have one of the best front lines in the league,” Gay added. “And we’re definitely going to prove that this year.”

And to think that there are cynics who believe Gay and Randolph don’t mix.

— Reported by Ronald Tillery of the Memphis Commercial Appeal 

The Memphis Grizzlies exercised the fourth-year contract option on guard/forward Quincy Pondexter, Grizzlies General Manager and Vice President of Basketball Operations Chris Wallace announced today.  Pondexter now is signed through the 2013-14 season.

Pondexter (6-6, 225) posted 4.2 points and 2.0 rebounds in 15.7 minutes in 64 games (eight starts) for Memphis last season after being acquired from the New Orleans Hornets for Greivis Vasquez on Dec. 24, 2011.  The 24-year-old owns career averages of 3.5 points and 1.6 rebounds on .432 shooting in 13.4 minutes in 130 games (14 starts) for Memphis and New Orleans.

After leaving the University of Washington as the school’s all-time leader in games played (136), the Fresno, Calif. native was drafted by the Oklahoma City Thunder in the first round  (26th overall) of the 2010 NBA Draft before his rights were traded to New Orleans in a draft-night deal.

The Memphis Grizzlies will tip-off the 2012-13 regular season tonight against their 2012 NBA Playoffs opponent, the Los Angeles Clippers, at 9:30 p.m. CT at STAPLES Center.  Grizzlies fans can see the regional telecast on SportSouth HD and listen on 92.9 FM ESPN/680 AM.

The Memphis Grizzlies announced today that the sale of the team to a group led by Robert J. Pera has been formally completed.  Pera, founder and CEO of Ubiquiti Networks, a publicly-traded next-generation communications technology company, has officially assumed control of the Grizzlies and leads a group of well-respected investors.

“The Grizzlies are here to stay in Memphis,” new Memphis Grizzlies Chairman Robert Pera said. “We are thrilled to assume ownership of the Grizzlies. We see enormous potential and understand the role the Grizzlies play in bringing Memphians together.  We are committed to building a winning team with a best-in-class organizational culture, finding new and creative ways to engage with our fans, and making a positive and meaningful difference in the community.”

“Owning the Memphis Grizzlies has been one of the most rewarding business endeavors of my career,” Michael Heisley said. “I am confident that the franchise will continue its development toward being a perennial championship contender and an important member of the Memphis community.  I am particularly gratified that we have put together a team which is poised to continue its improvement.  In Robert, we have a new owner who has expressed a total commitment to build on our success in Memphis. Although my time as owner has come to a close, I will remain a part of Grizz Nation and will continue to support this franchise that will always hold a special place in my heart.”

The Memphis Grizzlies waived guard/forward Ronald Dupree, center Jerome Jordan and guard Ronald Murray, Grizzlies General Manager and Vice President of Basketball Operations Chris Wallace announced today.

Dupree (6-7, 209) averaged 3.5 points and 5.3 rebounds in 13.2 minutes in six games for Memphis after signing as a free agent on Sept. 29.  The six-year NBA veteran (2005-11) holds career averages of 3.5 points and 2.2 rebounds on .427 shooting in 11.2 minutes in 157 games (eight starts) with the Chicago Bulls, Detroit Pistons, Minnesota Timberwolves, Seattle SuperSonics and Toronto Raptors.  The 31-year-old LSU product also has played in the NBA Development League for the Huntsville Flight, Tulsa 66ers and Utah Flash.

Jordan (7-0, 253) posted 5.6 points, 2.9 rebounds and 1.14 blocks in 12.6 minutes in seven games (three starts) for the Grizzlies after signing as a free agent on Sept. 29.  The 25-year-old Tulsa product recorded 2.0 points and 1.3 rebounds on .515 shooting in 5.1 minutes in 21 games as a rookie last season with the New York Knicks.  The Kingston, Jamaica native also has played for the NBA D-League’s Erie Bayhawks and overseas in Serbia and Slovenia after being drafted by the Milwaukee Bucks in the second round (44th overall) of the 2010 NBA Draft.

Murray (6-4, 200) registered 4.3 points and 1.8 assists in 11.8 minutes in four appearances for Memphis after signing as a free agent on Oct. 1.  The eight-year NBA veteran (2002-10) owns career averages of 9.9 points, 2.1 rebounds and 2.3 assists on .414 shooting in 22.7 minutes in 487 games (92 starts) with the Milwaukee Bucks, Seattle SuperSonics, Cleveland Cavaliers, Detroit Pistons, Indiana Pacers, Atlanta Hawks, Charlotte Bobcats and Chicago Bulls.  Drafted by Milwaukee in the second round (41st overall) of the 2002 NBA Draft, the 33-year-old Shaw product has played the last two seasons in Turkey (2010-11) and, most recently, the 2012 D-League Champion Austin Toros.

Memphis’ current roster stands at 13.

The NBA Board of Governors has unanimously approved the sale of the Memphis Grizzlies to an investor group led by Robert Pera.

“We are delighted that the NBA’s Board of Governors has approved Robert Pera’s purchase of the Grizzlies,” said NBA Commissioner David Stern. “Robert will no doubt bring great energy and passion to the franchise. He has assembled an ownership group with very strong local ties, and we anticipate that their commitment to the Memphis area will greatly benefit both the team and the community.”

The league’s approval is subject to the final close of the transaction which is expected to take place shortly.  Until the transaction closes, all parties to the transaction have agreed to continue to abide by the terms of their confidentiality agreements.

Pera is the founder and CEO of Ubiquiti Networks, a publicly-traded next-generation communications technology company.

Robert Pera’s bid to own the Grizzlies is on the agenda for consideration by the NBA’s Board of Governors at its meetings Wednesday and Thursday in New York City, sources familiar with the process told The Commercial Appeal.

If the board approves the deal, only one hurdle would remain before the completion of the first ownership transfer in the Grizzlies’ 11 years in Memphis: Pera’s group would then have to close the deal with current owner Michael Heisley. Pera agreed in June to buy the team from Heisley for what is believed to be $350 million.

Three-fourths of the board, which is made up of the majority owners for each of the 30 NBA teams, must vote in favor of Pera’s bid for the ownership transfer to be approved.

Pera will be the largest shareholder in the prospective ownership group but will own less than 50 percent of the franchise, two sources familiar with the deal said.

— Reported by Geoff Calkins of the Memphis Commercial Appeal

The Memphis Grizzlies waived forward/center Jarrid Famous and guard/forward D.J. Kennedy, Grizzlies General Manager and Vice President of Basketball Operations Chris Wallace announced today.

Neither player appeared last night in Memphis’ first preseason game, a 105-93 victory over Real Madrid.

Famous (6-11, 240) played in Slovakia, the NBA Development League and the Philippines last season following a four-year collegiate career at the University of South Florida.  The 24-year-old averaged 13.9 points and 9.8 rebounds in 29.4 minutes in 16 D-League games with Iowa and Fort Wayne.

Kennedy (6-6, 215) averaged 6.0 points and 3.5 rebounds in 29.5 minutes in two games last season as a rookie for the Cleveland Cavaliers.  The 22-year-old also posted 15.7 points, 7.3 rebounds and 4.4 assists in 37.3 minutes in 44 D-League games with Erie last season.

Both players originally signed as free agents on Sept. 29, 2012.

Memphis’ current roster stands at 18.