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NBA roundup: Grizzlies sold to tech billionaire
Posted By HOOPSWORLD On June 11, 2012 @ 7:00 pm In All,Wirenews | Comments Disabled
Owner Michael Heisley entered a purchase agreement to sell the Memphis Grizzlies to communications technology billionaire Robert Pera.
Sports Business Journal first reported the pending move, with a purchase price between $340 million and $355 million.
Pera is a hoops fanatic and plans to keep the team in Memphis. The Grizzlies would face significant penalties for breaking their lease at FedExForum before the current deal expires in 2021.
Pera, 34, started Ubiquiti Networks at age 25 after leaving his engineering job at Apple. The manufacturer of wireless products focuses on underserved and emerging markets.
Heisley, 75, is based in Chicago and bought the Grizzlies in 2000, when they were based in Vancouver. He relocated the team to Memphis in 2001.
—NBA referee Greg Willard, who was scheduled to work last Wednesday’s playoff game between the Spurs and Thunder before being replaced because of illness, has been diagnosed with pancreatic cancer, ESPN.com reported Monday.
Referees during the NBA Finals will wear No. 57, Willard’s number, on their shirts during games in his honor, the NBA Referee Association told ESPN.com.
–Game Seven of the Eastern Conference Finals established a new cable ratings record for an NBA playoff game. The ratings for the Saturday night game in Miami had a 21.7 rating in Boston.
ESPN televised the game and said Sunday it three highest-rated NBA games all came in the Heat-Celtics series.
The NBA Finals begin Tuesday on ABC.
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