Future of the Grizzlies

[rebelx]

Anybody know what's going on with the Grizzlies' financial situation as of late? I've heard talk over the last couple of years about Heisley potentially selling the team, although obviously nothing's materialized yet. When does that almost-unbreakable lease agreement of theirs run until? Is their attendance even halfway-decent these days?

[rebelx]

For that matter, what's the latest regarding the Kings and Sac-town? Maybe I should start a topic just for them .

[dfwabel]

Anybody know what's going on with the Grizzlies' financial situation as of late? I've heard talk over the last couple of years about Heisley potentially selling the team, although obviously nothing's materialized yet. When does that almost-unbreakable lease agreement of theirs run until? Is their attendance even halfway-decent these days?

While the story is from 2008, their lease has issues until 2015.

Starting in year 10 -- which is a full six years from now -- the team can move only if certain ticket and suite sales minimums are not met.

Even then, the city and county have the right to step in and buy enough tickets or suites to meet the minimums.

But say the city and county pass on that one. Say someone wants to buy the team and move it out of town. The city and county would still have the opportunity to find a local buyer to match the purchase price.

Any out-of-town buyer would also have to pay off the debt service on FedExForum, a number that doesn't dip below $100 million until 2015. And the buyer would have to pay back FedEx for a portion of the naming rights.

And the buyer would have to get the NBA's approval and pay the NBA's relocation fee, which would surely be a good deal more than the $25 million the Grizzlies had to pay to leave Vancouver.

This is come up before in the last year.

For that matter, what's the latest regarding the Kings and Sac-town? Maybe I should start a topic just for them .

No state funding is available. Just search "Sacramento + new arena" to see where all the news on that.