On Monday, Robert Pera, majority owner of the Memphis Grizzlies, announced via an email to the team’s season-ticket holders, that he has elected to retain his share in the franchise:
Dear Grizzlies MVPs,
I am writing to you today because I wanted to make sure that as MVP Grizzlies Season Ticket Members you heard directly from me that I have elected to retain my controlling interest in connection with the “buy-sell” process and am greatly looking forward to continuing to be the controlling owner of the Memphis Grizzlies.
It is with intent that I referred to the “Memphis Grizzlies” in the previous sentence, because I am committed to Memphis as an NBA market and as the home of the Grizzlies.
We recognize that this has been a trying season for you as fans. That serves to reinforce our dedication to continue building a successful NBA franchise. We have made significant investment in our organization in recent years and considerable strides towards our goal of sustained success. We will continue to do so and are confident that you will see the results of those investments in coming seasons.
As Season Ticket Members, thank you for your ongoing support for and commitment to the Memphis Grizzlies. It matters immensely and is greatly appreciated.
Sincerely,
Robert J. Pera
In 2012, Pera bought the Grizzlies together with two minority partners, Steve Kaplan and Daniel E. Straus. Combined, Straus and Kaplan own around 30 percent of the Grizzlies.
On Tuesday, ESPN’s Zach Lowe reported that the Grizzlies are valued between $1.3 billion and $1.4 billion.
