Eric Williams covered the Sonics' last season in Seattle. A Tacoma native, Eric graduated from Mount Tahoma High and the University of Puget Sound.
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This article in Thursday’s Memphis Commercial Appeal points out the Grizzlies’ local, minority ownership group owns only 5.8 percent of the team, which gives Majority owner Michael Heisley the ability to sell the team to another perspective owner – like the private investors in Seattle looking for an NBA team to play in KeyArena should the Sonics leave.
Heisley reportedly has already turned down a $300 million offer from the local group in Memphis to purchase the team. However, the Grizzlies have a long-term lease agreement to play in the FedEx Forum until 2016, and any potential owner of the Grizzlies would have to pay a hefty penalty for leaving, estimated at least $100 million.
The Grizzlies moved to Memphis from Vancouver in 2001, and are at the bottom of league attendance numbers.
Here’s some more analysis on the situation.
And here’s my story from today on NBA Commissioner David Stern’s latest comments, along with Former U.S. Senator Slade Gorton’s recent comments about the arena situation in Seattle.
