Category: Memphis Grizzlies Blog

The Memphis Grizzlies extended qualifying offers to restricted free agent forwards Marreese Speights and Darrell Arthur, Grizzlies General Manger and Vice President of Basketball Operations Chris Wallace announced today.

Speights (6-10, 255) set career highs in scoring (8.8 points), rebounding (6.2) and minutes (22.4) in 60 games (54 starts) last season after being acquired by Memphis from the Philadelphia 76ers on Jan. 4, 2012 in a three-team trade that also included the New Orleans Hornets.  The 24-year-old averaged 6.6 points and 4.3 rebounds in 14.3 minutes during the Grizzlies’ seven-game first-round series with the Los Angeles Clippers during the 2012 NBA Playoffs.

The St. Petersburg, Fla. native holds NBA career averages of 7.6 points and 4.3 rebounds in 16.4 minutes in 265 games (58 starts) over four seasons with the Grizzlies and 76ers.  Philadelphia selected Speights with the No. 16 overall pick in the first round of the 2008 NBA Draft.

Arthur (6-9, 235) posted career bests in scoring (9.1 points), blocks (0.79), field goal percentage (.497), free throw percentage (.813) and minutes (20.1) in 80 games (nine starts) during the 2010-11 season before a torn right Achilles sustained on Dec. 18, 2011 caused the 24-year-old to miss the entire 2011-12 season.

The Dallas native owns NBA career averages of 6.9 points and 4.2 rebounds in 18.8 minutes in 188 games (74 starts) with the Grizzlies.  After leading the Kansas Jayhawks to the 2008 NCAA National Championship, Arthur was selected by New Orleans with the No. 27 overall pick in the 2008 NBA Draft and traded to Memphis on draft night.

Extending a qualifying offer prior to the June 30 deadline gives Memphis the ability to match any offer sheet a player signs with another team during the offseason.

The Memphis Grizzlies selected guard Tony Wroten, Jr. with the No. 25 overall pick in the first round of the 2012 NBA Draft, Grizzlies General Manager and Vice President of Basketball Operations Chris Wallace announced tonight.

In his lone season at the University of Washington, Wroten, Jr. (6-6, 203) became the first freshman in school history to earn First Team All-Conference honors, ranking fifth in the Pac-12 in scoring (16.0 points), eighth in assists (3.7) and second in steals (1.9) in 35 games.

The 19-year-old set numerous Husky freshman records, including scoring average, most points (559), assists (130) and steals (66), while winning Pac-12 Freshman of the Year.  He also joined Detlef Schrempf (1984-85) as the second player in school history to compile at least 500 points, 150 rebounds and 100 assists in a single season.

The Seattle native led the Huskies with 12 games of 20-or-more points, including a UW freshman-record 29 points on March 8, 2012 vs. Oregon State in the Pac-12 Tournament.  He tallied 22 points against Oregon on March 20 in the NIT Quarterfinals.

Wroten, Jr. was a member of the 2010 USA U-17 World Championship Team that posted a perfect 8-0 record and captured the gold medal while attending Garfield High School, which also produced former All-Star Brandon Roy.

The left-hander joins fellow Washington standout Quincy Pondexter on the Grizzlies’ roster.

The Memphis Grizzlies’ sale to Robert J. Pera, announced this past week, is already in serious trouble, according to league sources. Pera owns Ubiquiti Networks, a Silicon Valley communications technology company. When its stock bottomed out in the last two weeks, his net worth plummeted from $1 billion to $200 million, according to league insiders who say that unless he has some wealthy partners lined up to help him finance the sale, it will likely fall through. In that case, the Grizzlies will continue to be owned by Michael Heisley. Pera agreed to buy the team for $350 million, a figure that raised many eyebrows around the league.

— Reported by Mitch Lawrence of the New York Daily News

UPDATE: SALE STILL ON TRACK

The New York Daily News reported Sunday that Pera, a communications technology magnate, has already created great skepticism because of his finances. Citing league insiders, the newspaper claimed Pera’s net worth is $200 million and not enough to complete the transaction unless he has “some wealthy partners” in line to help.

Not only is Pera alone in his bid to buy the Griz to date but he remains committed to join the NBA despite his company’s loss in momentum, according to a source with knowledge of the deal.

Once estimated at being worth $1.5 billion by Forbes magazine, Pera is now said to be worth more than $800 million in large part because of shares in his company, Ubiquiti Networks.

— Reported by Ronald Tillery of the Memphis Commercial Appeal 

Michael E. Heisley, the majority owner of the Memphis Grizzlies, announced today an agreement for the sale of the franchise to an entity owned by Robert J. Pera.  Robert J. Pera is the founder and CEO of Ubiquiti Networks, a publicly-traded next-generation communications technology company.  The sale transaction is subject to approval by the NBA Board of Governors, antitrust clearance and other conditions.

The Grizzlies were purchased by Mr. Heisley in 2000 when the team was located in Vancouver, Canada.  In 2001, the Grizzlies were relocated to Memphis, Tennessee, and in 2004 moved into FedExForum, a state-of-the art NBA arena built by the City of Memphis and Shelby County.  Since moving to Memphis, the team has participated in the NBA playoffs for five seasons, including the two most successful campaigns in franchise history, in 2010-11 and 2011-12.

“I have enjoyed my ownership of the Grizzlies and the support for professional basketball in Memphis,” said Heisley.  “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.  We have an outstanding team of players, coaching staff, and basketball and business management.  In Robert, we have a new owner who has expressed a total commitment to build on our success in Memphis.”

“I am excited about the opportunity to build on the work that has made the Memphis Grizzlies a highly competitive NBA team,” Pera said. “I look forward to getting to know the Memphis community and to continuing the team’s success in Memphis.”

After two consecutive trips to the playoffs and a return to respectability in the Western Conference, Michael Heisley has found a buyer to purchase the Memphis Grizzlies, according to sources with knowledge of the owner’s plans.

Sources told ESPN.com that Heisley has an agreement in principle to sell the team to communications technology magnate Robert Pera, who at 34 has a spot on Forbes’ list of the 10 youngest billionaries in the world.

The purchase price is in the $350 million range, sources said. A formal announcement to publicize the agreement between the parties is expected this week, possibly as soon as later Monday, with NBA Board of Governors approval then required before Pera can be officially installed as successor to Heisley, who recently turned 75.

Sources say that Pera intends to keep the team in Memphis. The Grizzlies’ lease at the FedExForum, furthermore, ties the team to the city until the year 2021, with steep financial penalties attached to breaking that lease.

— Reported by Marc Stein of ESPN.com

Reports persist that the Griz are shopping Gay to shed payroll and acquire a draft pick in the lottery. But Griz owner Michael Heisley says that just isn’t the case.

“We’re not looking to trade Rudy Gay,” Heisley said. “We’re not shopping him around. Period. Do we sit around and say ‘What if we traded Rudy, who could we get?’ No. Right now, Rudy is part of the future of this team.”

Gay, 25, will be the team’s second-highest paid player next season. His $16.4 million salary for the 2012-13 season is slightly less than the $16.5 million that power forward Zach Randolph will earn. Gay is owed about $53.6 million over the next three seasons after signing an $84 million contract as a restricted free agent in 2010.

— Reported by Ronald Tillery of the Memphis Commercial Appeal

Grizzlies owner Michael Heisley said it’s too soon to predict what moves, if any, that the team will make to improve the roster.

He did emphasize, though, that the franchise isn’t in position to add much salary.

The Griz have big contracts committed to Rudy Gay, Zach Randolph and Marc Gasol. They have Mike Conley on a modest long-term deal, and will have to make similar tough decisions on several free agents this summer.

“We can’t be in the luxury tax business,” Heisley said. “We’ve got to make some financial decisions. That’s without question.

“But we have to step away from this a little bit and let this settle down. I’m not going to allow myself to have any feelings about the roster right now. I don’t want us to look at Game 7 and make decisions for the future. That would be a mistake. You have to look at the season, the players and what’s available. But we’ve got a heck of a lot of talent coming back.”

— Reported by Ronald Tillery of the Memphis Commercial Appeal

If this was Mayo’s last game in a Grizzlies uniform, his indelible mark didn’t come in a positive way. Mayo, a restricted free agent, struggled mightily over the last five games of the series. He just couldn’t make shots and was 1 for 11, including 0 for 3 from beyond the arc, in this one. Overall, Mayo shot just 27 percent in the series. He made just 29 percent of his 3-point attempts.

“It’s not what you wanted. It’s not what you expected. But the results are the results,” Mayo said. “You’ve got to go into the offseason very motivated. You’re only as good as your last game, which pretty much sucked. You’ve got to go out and get better.”

— Reported by Ronald Tillery of the Memphis Commercial Appeal