MEMPHIS, Tenn. — It's a decision the City of Memphis was passionately waiting for, would Robert Pera keep his stake with the Memphis Grizzlies?
Well, the decision is in. The Grizzlies announced Monday evening that controlling owner Robert Pera has sent formal notice to the NBA that he will retain his controlling interest in the team in connection with the "buy-sell" process.
Steven Kaplan and Daniel Straus each had the option to make an offer on the five-year anniversary of Pera's $377 million purchase of the team, but Pera has decided to keep control.
This decision was shared earlier this evening in an open letter from Pera to Grizzlies MVP Season Ticket Members. You can see the email below.
© 2020 Cox Media Group