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Closing Bell

Grizzlies Purchase D-League Franchise, Sell Current One To T'Wolves

The Grizzlies have "acquired an expansion NBA-Development League franchise they will own and operate in the Mid-South," sources confirmed. The "yet-to-be-named affiliate" will play its 24-game home schedule at Landers Center in Southaven, Miss., "about 20 miles south" of the Grizzlies’ Memphis base at FedExForum. The team is scheduled to launch for the '17-18 season, with a formal announcement expected tomorrow (NBA.com, 1/23).

Meanwhile, the T'Wolves today "agreed to purchase" the Iowa Energy, the D-League franchise "currently owned and operated by the Grizzlies." The deal goes into effect next season, making the T'Wolves the 18th NBA team to "own and operate their own" D-League club. The Energy play in Des Moines' 17,000-seat Wells Fargo Arena (Minneapolis STAR TRIBUNE, 1/23).

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