The "surrounding uncertainty" of the potential acquisition of the T'Wolves by Grizzlies co-Exec Chair Steve Kaplan "has exposed turmoil within the Memphis ownership group, clouding future control of both franchises," according to Windhorst & Lowe of ESPN.com. Kaplan "had planned to sell" his Grizzlies stake to buy 30% of the T'Wolves "with a path to eventually take over" as the controlling owner. However, sources said that a dispute between Kaplan and Grizzlies Owner Robert Pera over shares of the team "led to behind the scenes trouble that took months to resolve." The dispute "was recently settled after Kaplan threatened to initiate an arbitration procedure." The resulting delay has put Kaplan's deal with T'Wolves Owner Glen Taylor "in jeopardy." The sources added that Pera "has been distant from Memphis over the past year and has excluded minority owners from any meaningful participation in team decision-making, which is his right as controlling owner." Kaplan is "worried that the market for his minority interest will dry up once potential buyers complete their due diligence on Pera's ownership techniques." Kaplan "has been asking" for close to $100M for his 14% share, "pegging the team's value at roughly" $700M. That figure "is a big-enough number to turn off some potential investors." There is "a growing assumption that Taylor will remain as primary decision-maker for the near term." Sources said that he "has slowed the sale process and is now reconsidering whether he wants to sell at all" (ESPN.com, 3/13).
