MEMPHIS, Tenn. (AP) - Memphis Grizzlies owner Michael Heisley finally may have found a buyer for his NBA team.
The majority owner of the Grizzlies told The Commercial Appeal Monday that he has talked with billionaire Robert Pera but there is no contract "at this point." ESPN.com reported that sources say Heisley has an agreement to sell the Grizzlies to Pera for approximately $350 million with a formal announcement expected sometime this week. ESPN.com also reported Pera plans to keep the Grizzlies in Memphis.
Heisley did not immediately return a message from The Associated Press,
He has been trying to sell the team for years and had a deal in 2006 with a group headed by Christian Laettner that fell through.
The Grizzlies went 41-25 this season reaching the playoffs a second straight year.