Robert Pera will retain controlling interest of the Memphis Grizzlies after buying out minority owner Daniel Straus.
According to ESPN’s Zach Lowe, based on the buyout price, the team was valued between $1.3 billion and $1.4 billion.
In February, Forbes valued the Grizzlies at $1.025 billion, ranking 29th among the NBA’s 30 teams.
Details on Robert Pera's deal to retain control of the Grizzlies — the valuation of the team in the bidding process, and the identity of the high bidder, per sources: https://t.co/v7zQDCbEpa
— Zach Lowe (@ZachLowe_NBA) April 10, 2018
Robert Pera’s deal to retain control of the Memphis Grizzlies under the terms of an unusual buy-sell clause values the team between $1.3 billion and $1.4 billion, a big price tag for a small-market team that has been among the league’s largest revenue-sharing recipients, sources familiar with the process told ESPN. […]
Kaplan and Straus then submitted separate bids, with Straus’ bid the highest. After a waiting period, Pera announced Monday that he would match the bid and buy out Straus. What happens to Kaplan and his shares is unclear.
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