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Volume 25 No. 7
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Heisley Denies Report Of Local Group's Bid For Grizzlies If Pera Deal Falls Through

Grizzlies Owner Michael Heisley yesterday said that the Forbes report that “indicated a local group made a bid to buy the team if Robert Pera’s bid fails is not accurate,” according to Ronald Tillery of the Memphis COMMERCIAL APPEAL. Heisley said, “There is no other deal on the table. We’re working with Pera and we have no reason to believe he won’t perform.” This is the “second time in less than a week that Pera’s bid has been questioned in the media” (Memphis COMMERICAL APPEAL, 6/20). In the report, FORBES.com’s Mike Ozanian noted a “group of local businessmen has emerged to buy his Memphis Grizzlies should Robert Pera be forced to drop his $350 million bid for the National Basketball Association team due to the collapse of his company’s stock.” Sources said the local bid is “a little less than $350 million” (FORBES.com, 6/19).