Heisley Says Grizzlies Not Leaving Memphis Under His Watch

Heisley Says Grizzlies Are Not Going To Be Relocating From Memphis Anytime Soon

THAT'S THE BOTTOM LINE: The COMMERCIAL APPEAL's Tillery notes the Grizzlies, despite losing about 72% of their games over the past three seasons, "function with a balance sheet that is tolerable." Team officials said that the Grizzlies are "operating in the black, overcoming average attendance figures in the league's bottom third and skimpy overall local revenue streams over the past few seasons." The team did not disclose its profit margin, but a Grizzlies source said, "We're not satisfied, but we're not hurting." Tillery notes critics argue that Heisley's "insistence on more fiscal responsibility in some areas combined with tightening purse strings in others cost him games." Heisley contends that "winning is still the goal but keeping a stronger eye on the business of basketball has the Griz afloat in a sinking economy." Heisley said, "We're definitely in the top third of the teams in the league (in terms of the bottom line). It's because we've watched our expenses and we have the support of a good, hard-core group of people. We're going to survive no matter what." Grizzlies President of Business Operations Greg Campbell said that season-ticket renewals are up 15% from last year. In addition, of the 16 luxury suites up for renewal at FedExForum, the team has "resold eight and received four verbal commitments." Campbell also said that "several national sponsors have been renewed or are pending" (Memphis COMMERCIAL APPEAL, 8/7).

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