The Breakdown: Who, and how much, kept the Grizzlies in Memphis - Action News 5 - Memphis, Tennessee

The Breakdown: Who, and how much, kept the Grizzlies in Memphis

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The dollar figures are fascinating. The dollar figures are fascinating.
Memphis Flyer blogger Chris Herrington also had the breakdown of how many people, paid how much money, for a stake in the Grizzlies. Memphis Flyer blogger Chris Herrington also had the breakdown of how many people, paid how much money, for a stake in the Grizzlies.
Action News 5 Sports Director Jarvis Greer says a solid arena deal protects city interests. Action News 5 Sports Director Jarvis Greer says a solid arena deal protects city interests.
MEMPHIS, TN -

(WMC-TV) – The dollar figures are fascinating.

Sports 56's George Lapides had the scoop.  Memphis Flyer Grizzlies blogger Chris Herrington also had the breakdown of how many people, paid how much money, for a stake in the Grizzlies.

"I count 54 total," said Herrington.  "Michael Heisley at the end owned 98-percent of the team and this is a much bigger, more varied breakdown," he added.

Robert Pera owns the biggest share at almost 26%.  He paid $45 million.

Steve Kaplan is not from here, but leads one of two groups that chalked up a cool $25 million.

Pitt Hyde is one of two locals to put down $8.5 million.

Elliott Perry, Billy Orgel, and Peyton Manning's wife Ashley paid $5 million apiece, as did a group headed up by pop star Justin Timberlake.

Penny Hardaway threw in $2.5 million.

While Harold Ford, Jr. paid 250,000 dollars for 14-tenths of a percent of the Grizzlies.

Action News 5 Sports Director Jarvis Greer says a solid arena deal protects city interests, but big money doesn't hurt either.

"The team is tied to the building, that's the biggest thing of it. And that's what'll keep this franchise here," Greer said.  "They're putting their money where their mouth is to say we want this team here and we want to keep it," he added.

Herrington says how the ownership group interacts is the biggest unknown.  Otherwise, he says the deal, seems as normal as possible for such fascinating amounts of money.

"I think it's interesting but I don't think there's any real red flags or bomb shells necessarily," said Herrington.

 

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