Reuters: Sports News: League approves Grizzlies sale

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League approves Grizzlies sale Oct 25th 2012, 17:27 Tweet Share this Email Print NBA Commissioner David Stern attends the Allen & Co Media Conference in Sun Valley, Idaho July 10, 2012. Credit: Reuters/Jim Urquhart Thu Oct 25, 2012 1:27pm EDT (Reuters) - The National Basketball Association (NBA) board of governors has unanimously approved the sale of the Memphis Grizzlies to an investor group led by Robert Pera, the league said on Thursday. Grizzlies owner Michael Heisley in June reached an agreement to sell the franchise to Californian businessman Pera and his group. "We are delighted that the NBA's board of governors has approved Robert Pera's purchase of the Grizzlies," NBA Commissioner David Stern said in a statement. "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." Heisley purchased the Grizzlies in 2000 when it was located in Vancouver. Since relocating to Memphis in 2001, the team has participated in the playoffs in five seasons. The team is coming off its two most successful NBA campaigns including the 2011-12 season when Memphis finished fourth in the Western Conference before losing to the Los Angeles Clippers in the opening round of the playoffs. (Reporting by Simon Evans in Miami; Editing by Mark Lamport-Stokes) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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