Memphis Grizzlies Sale Imminent?
Grizzlies owner Michael Heisley bragged Wednesday about losing 80 pounds for health reasons. The Chicago-based billionaire also still expects to shed the Griz from his business portfolio.
Heisley, who has owned the franchise for the past 12 years, remains confident about his agreement to sell the team to Robert Pera despite the more-than three months that have expired since the deal was announced.
The reportedly $350 million deal will not close this month, according to sources familiar with the process, but is expected to reach a conclusion sometime next month. Pera is working to satisfy the terms of the contract. He then must gain approval from the NBA Board of Governors. League owners meet Oct. 25 but could announce a decision before then after an e-mail vote.
“I’m not really worried about whether (the sale) will consummate or not,” Heisley said, adding that it is business as usual until Pera is approved. “There’s an understanding between me and Mr. Pera that I would go forward and make the decisions that need to be made.