View Full Version : Could Grizzlies be sold?

09-18-2017, 10:17 PM
The Ringer just updated an article about Robert Pera, who owns a one-quarter stake in the Memphis Grizzlies, running into business troubles, and how that could further complicate a strained relationship and potential buyout by two other owners each with 14.22 percent of the team, along with 20 other lesser investors:

The technology company founded by Grizzlies majority owner Robert Pera, Ubiquiti Networks, is facing significant accusations. On Monday, a report published by Citron Research claimed that “the end is now” for the company due to “total fraud.” Pera responded, as we do this century, on Twitter, calling Citron “clowns.”
Ubiquiti’s stock has fluctuated, dipping about five points since the report came out, and according to Citron, which, per CNBC, “gained notoriety for successful bets against companies such as Valeant Pharmaceuticals,” that will continue.
Pera’s financial state matters to the Memphis Grizzlies right now: In October, Grizzlies minority owners Steve Kaplan and Daniel Straus are eligible to purchase control from majority owner Robert Pera, as outlined in an ESPN report two springs ago. Why October? Kaplan and Straus will have the option thanks to a “buy/sell” clause that the stakeholders agreed to when they purchased the franchise in October 2012.
- Haley O'Shaugnessy, The Ringer (https://www.theringer.com/nba/2017/9/7/16269342/memphis-grizzlies-ownership)
As of February, the Grizzlies were valued at nearly $800 million.

09-19-2017, 02:13 AM
Doesn't JT have a piece of the team?

09-19-2017, 10:56 AM
Doesn't JT have a piece of the team?

A very small piece.