Chicago-based Heico Companies CEO Michael Heisley "has ventured into the sports field by agreeing to purchase" the Grizzlies for $160M from Orca Bay Sports and Entertainment, according to Grant Kerr of the Toronto GLOBE & MAIL, who notes the deal "still needs to be approved" by 75% of the NBA teams. Heisley, who "became a prospective buyer" late last year: "I intend to do everything in my power to make this franchise a success in Vancouver. The financial viability is an issue and we'll address that challenge ... through marketing and promotion." Kerr reports that Heisley "has a rental agreement" with Orca Bay "for the use" of GM Place. Heisley adds that he "has no plans to take in local partners." Heisley, asked whether he would "try to move" the franchise: "I've never had any intention of relocating any team I was interested in" (Toronto GLOBE & MAIL, 1/25). Orca Bay President Stan McCammon said that "talks" with Heisley began around Christmas "when it became clear the deal with [Bill] Laurie was falling apart." Heisley, who said that he "plans to do a better job of marketing" the Grizzlies: "Turning the Grizzlies' fortunes around isn't going to be easy. I recognize it's not going to happen overnight" (Jim Morris, CP, 1/25). Heisley: "Why did I [choose] Vancouver? Honestly? It was because Vancouver was available to me, and it ain't that easy to get an NBA basketball team" (VANCOUVER SUN, 1/25). GOOD MOVE? In Toronto, Craig Daniels: "With Heisley's purchase, it appears the Grizzlies, and the NBA, finally have found stability in Canada off the court" (TORONTO SUN, 1/25). In Vancouver, Tony Gallagher: "Unless this man is Santa Claus or has a Maple Leaf tattooed on some body part, the song and dance about wanting to operate in Vancouver is a little hard to believe" (Vancouver PROVINCE, 1/25). In Toronto, Daniel Girard: "Vancouver could be Heisley's toughest test" (TORONTO STAR, 1/25). Also in Toronto, Allan Maki writes, "How can you feel good about a Chicago businessman buying a sports team in another country where it's losing big money?" (GLOBE & MAIL, 1/25). In Vancouver, Gary Mason, on Heisley: "There was ... the honesty he exuded. ... When Heisley said he had no interest whatsoever in re-locating the franchise, you believed him" (VANCOUVER SUN, 1/25). WinStar Radio Network's Keith Olbermann: "Easy joke department: the businessman who reportedly buys the Vancouver Grizzlies for $160 million is from Chicago. Does that mean he'll move the team there so the city can once again have an NBA franchise?" (Winstar Radio Network, 1/24). PLAYING DEFENSE: In Vancouver, Howard Tsumura writes that Heisley's business philosophy "seems to mesh with the hopes of fans wanting their team to stay" in Vancouver. Heisley: "As far as my buying companies, if you look at the records, I virtually own everything I bought and turned around" (Vancouver PROVINCE, 1/25). More Heisley: "If making a lot of money is the mark of a self-made man, then I guess I'm a self-made man" (VANCOUVER SUN, 1/25). GIVING THANKS: Former Vancouver Mayor and Grizzlies Founder Arthur Phillips, one of the "main organizers" of the "Save the Grizzlies" campaign, on keeping the team in the city: "I think the fans of Vancouver should write or call or fax [NBA Commissioner] David Stern and the other owners again. ... [Stern] came through for us. ... It would be a nice gesture if we had a little campaign to thank David Stern and the other governors" (VANCOUVER SUN, 1/25).
