GRIZZLIES
GRIZZLIES RAISE SOME SEASON TICKET PRICES
offers for free agents), leaving long-term pronouncements (i.e. contract extensions, major trades) to the new owner.
Wallace and Hollins declined comment about the sale, indicating that they will adhere to Heisley’s wishes until told otherwise.
Heisley emphatically said that the Griz will operate under his philosophy until ownership changes hands.
“I’m going to approach this draft like I normally would,” Heisley said. “Pera has not bought the team yet. If you think I’m just going to walk away you’re crazy.
“But I have every intention of inviting (Pera) to participate when we go through the draft. He will be kept informed of every basketball decision that’s being made. Obviously, he’ll have an opportunity to put his two cents in. We’ll handle it like a fair business man would. I don’t anticipate any disagreements.”
There are several key decisions that need to be made starting with the Grizzlies’ 25th overall draft pick in the first round. From there, the Griz must decide whether to tender certain players qualifying offers in an effort to make them restricted free agents.
Those decisions won’t be easy.
Guard O.J. Mayo is due a $7.3 million qualifying offer. Forward Darrell Arthur’s qualifying offer is $3 million and forward/center Marreese Speights commands a $4 million offer.
The Griz can also give guard Lester Hudson a qualifying offer, which means the team retains the right to match any offer the player receives in free agency.
Memphis must tender qualifying offers by the end of this month. The NBA’s free agent period begins July 1.
The Griz are in a precarious position with their free agents.
They are just $7.7 million shy of the projected luxury tax threshold for the 201213 season. If Mayo receives and accepts a $7.3 million qualifying offer — meaning he would play for Memphis for one season and become an unrestricted free agent — he’ll effectively gobble up the Grizzlies’ remaining salary cap space.
Memphis would be hard pressed to sign additional free agents.
It is not known whether Pera will pay the NBA’s luxury tax — a dollar-fordollar penalty for exceeding the threshold.
The Griz avoided paying the luxury tax by roughly $200,000 this past season.
The Grizzlies are raising some season ticket prices effective June 29 — the first increase in seven years. But it’s not linked to Monday’s announcement that owner Michael Heisley plans to sell the franchise to Californian Robert Pera.
The price increases, for all Plaza Level seats and certain Terrace Level seats, were announced May 23 on the team’s website. However, a news release was not sent to media outlets, as is normally the case.
Increases range from $1 to $10 per game. Terrace III seats are increasing from $10 to $11 per game, and courtside seats from $129 to $139.
Club Level seat prices will remain unchanged. The Grizzlies say their season ticket prices remain among the lowest in the league, with 6,000 tickets priced at $11 or less per game and more than 10,000 tickets priced at $27 or less. That was made possible in part by the team’s decision to trade Sam Young to Philadelphia in exchange for the rights to a foreign player and the fact that bonuses were minimal for players on the current roster. — Ronald Tillery:
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