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Memphis Grizzlies Ownership Change Approved by City Council

There's a full court press to get the sale of the Memphis Grizzlies approved by the beginning of the basketball season. Tuesday, the city council took a major step toward making that happen.
MEMPHIS, TN (abc24.com) - There's a full court press to get the sale of the Memphis Grizzlies approved by the beginning of the basketball season. Tuesday, the city council took a major step toward making that happen.

Council had to approve changing the city's contracts with the Grizzlies' old owner to the new owners.

When it comes to the Grizzlies ownership changing hands, Memphis City Attorney Herman Morris says, "The only concern the city should have is whether or not they win more seasons and get deeper into the playoffs."

The city has contracts with the owner of the Grizzlies for things like the use of the FedExForum and penalties if the team is moved. David Carlock is the advisor for Robert Pera, the new majority owner. Carlock says those contracts have to be changed into the name of the new ownership group before the sale can be approved.

"We're right up against the new NBA season starting. We believe strongly, as the league does, it's in the best interest of the team and the community to affect this transaction as quickly as possible."

Morris added, "It is imperative that this agreement be put to rest so when the new season starts with the new ownership they're able to take the reins and begin their process of building the team into the winner that everybody in this community wants to see."

Carlock wouldn't reveal the names of all of the local owners buying into the team, but did say Pera is committed to Memphis.

"He's excited about getting to know Memphis and winning some basketball games, doing right by the community and having some fun."

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