Big sneakers for Pera to fill
PROPOSED SALE OF GRIZZLIES RAISES MAJOR QUESTIONS
THE PROPOSED SALE of the Grizzlies to California near-billionaire Robert Pera raises many questions — including whether the NBA team will remain in Memphis for the long term.
That’s a major issue, given that starting with the 2021-22 season, relocation is a contractually possible — if costly — proposition. The early word is that Pera, who lives in San Jose, is committed to Memphis. But who knows what might happen a decade or so down the line?
Then there are the concerns of the moment, of the here and now. These, too, are major — with implications that range beyond mere sports and into the public coffers.
To wit: If indeed Pera is approved by the NBA Board of Governors and succeeds Michael Heisley as Grizzlies owner, what kind of owner would Pera be?
Heisley has committed to keeping the team’s highly compensated core — Zach Randolph, Rudy Gay, Marc Gasol and Mike Conley — together, with hopes of making a serious run at an NBA title. So far, that has led to back-to -back playoff appearances — and to increases in attendance and ticket sales.
That’s good for Memphis and Shelby County, which jointly built FedExForum and then contracted with the franchise to operate it.
Arena bond payments are made, in part, from revenue generated at games. So, as a city and county, we have more than a rooting interest in Grizzlies games. We have a financial stake.
We know Heisley will pay the price to compete with the NBA’s elite — Randolph and Gay, alone, will combine to make some $33 million next season. Pera may have the same commitment, and competitive spirit — but we don’t know that.
Along with wondering what sort of owner Pera would be, we also wonder what kind of arena operator he’d be. FedExForum isn’t just a basketball gym — it’s a hall for concerts, pro wrestling, family shows. It needs to be a busy place.
Also, what kind of corporate citizens would Pera’s Grizzlies be? In its decade -plus in Memphis, the team has become a philanthropic force, with an emphasis on mentoring and other youth initiatives.
So, is this planned sale to Pera a good thing for Memphis and its Grizzlies? We await the answer, fully aware of what’s at stake. The deal is good news for franchise and city — if California buyer is committed to winning, and to Memphis.