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View Full Version : Heisley sells Grizzlies, makes 277 million dollar profit for 12 year investment



spreadeagle
10-30-2012, 12:57 AM
Not bad considering they are a small market team.


Michael Heisley bought the team in 2000 for $160 million. In January of this year, Forbes estimated the Memphis Grizzlies to be worth $269 million.

Monday the sale of the Grizzlies from Heisley to Robert Pera became official — at a price of $377 million, according to the Commercial Appeal.

For those of you scoring at home, that is a $217 million profit in 12 years, and if you adjust for inflation (using CPI) it comes to $162 million.

Just remember that next time an owner cries poverty about the tax line or how they are losing money.

But this is good news for the Grizzlies — Pera and his minority owners are now in charge of the franchise. The NBA Board of Governors (made up of the owners) approved the sale last week.

Pera has recruited a wide range of investors to join his bid, including local businessmen such as AutoZone founder J.R. “Pitt” Hyde, investor Staley Cates, financier Duncan Williams, investor Edward Dobbs and cell phone tower developer Billy Orgel. Performer Justin Timberlake, who has Shelby County roots; Memphis native Ashley Manning and her husband Peyton Manning, the NFL and former University of Tennessee quarterback; Tiger basketball legends Penny Hardaway and Elliot Perry; and former Congressman Harold Ford Jr. are also part of Pera’s ownership group.

Pera also agreed to a three-pronged proposal of safeguards that essentially binds the team in Memphis for another 15 years.

http://probasketballtalk.nbcsports.com/2012/10/29/sale-of-grizzlies-to-robert-pera-finalized-for-377-million/

kblo247
10-30-2012, 01:18 AM
Not bad at all considering the Pau era wasn't even a revenue generator as his max deal was killing them. It's incredible what the Zach and Marc run did for them

GREATNESS ONE
10-30-2012, 01:25 AM
Money money money

Ware_Spencer
10-30-2012, 02:29 AM
It shows the profit from the purchase and sell date only.

It does not show How much money they made or lost each year. So that is a factor also.

Also CPI is not correct in terms of REAL inflation. In the 80's they took out Energy and FOOD out of the basket for determining what inflation is for CPI.
Which those 2 things are the most important things to live on. They have actual tangible value because we always need them. The other things they use in the basket don't even compare to How much energy and food have risen in price.

Too bad we will never know how much money they lost or made during each year since they are private and they do not and should not have to release their statements.

Ebbs
10-30-2012, 02:48 AM
Wow great call on the sale for both sides. Solid investment team great margin of profit.

MoBASS
10-30-2012, 04:25 AM
It shows the profit from the purchase and sell date only.

It does not show How much money they made or lost each year. So that is a factor also.

Also CPI is not correct in terms of REAL inflation. In the 80's they took out Energy and FOOD out of the basket for determining what inflation is for CPI.
Which those 2 things are the most important things to live on. They have actual tangible value because we always need them. The other things they use in the basket don't even compare to How much energy and food have risen in price.

Too bad we will never know how much money they lost or made during each year since they are private and they do not and should not have to release their statements.

I came out of retirement to say nice post!

Badluck33
10-30-2012, 06:43 AM
Well maybe now the Grizzlies will finally trade OJ Mayo to the Bulls....

oh wait,..

whooops!

Badluck33
10-30-2012, 06:43 AM
Well maybe now the Grizzlies will finally trade OJ Mayo to the Bulls....

oh wait,..

whooops!

gwrighter
10-30-2012, 07:45 AM
At the end of the day, you don't go into the sports industry to make money & compete. You can make money, or compete IF you're lucky.

Blitzbolt
10-30-2012, 01:01 PM
I want Ashley Manning to call the shots in the DRAFT and FA.

jp611
10-30-2012, 01:13 PM
Well maybe now the Grizzlies will finally trade OJ Mayo to the Bulls....

oh wait,..

whooops!

:laugh:

hugepatsfan
10-30-2012, 01:16 PM
#bossmoves

Lakersfanla24
10-30-2012, 01:47 PM
At the end of the day, you don't go into the sports industry to make money & compete. You can make money, or compete IF you're lucky.

The lakers make money and they compete :shrug:

mikekhelxD
10-30-2012, 01:55 PM
I really want to see how much they net after each years overhead cost.