Teams/Southwest Division
Memphis Grizzlies
Robert Pera has controlled the Grizzlies since 25 October 2012, when his group paid Michael Heisley $377M. Forbes values the team at $4.0B, last in the NBA, and it has had four owners since its founding in Vancouver in 1995.
Every owner since the start
- 2012 to todayRobert Pera and partners (Memphis Basketball LLC)
Bought from Michael Heisley for $377M ($350M in the first ESPN report).
- 2000-2012Michael Heisley
Bought from John McCaw Jr. for $160M and moved the team to Memphis in 2001. A 2006 sale of his 70% collapsed.
- 1995-2000John McCaw Jr. (Orca Bay Sports and Entertainment)
Bought the holding company from Arthur Griffiths in stages, taking a majority on 7 March 1995; price not found. A 1999 sale to Bill Laurie for $200M was blocked by the NBA.
- 1994-1995Arthur Griffiths
Founded the team. The expansion fee paid to the NBA was $125M.
Value over time
- 12000 Heisley buys, $160M
- 22012 Pera group buys, $377M
Show the numbers
| Year | Forbes value |
|---|---|
| 1998 | $133M |
| 1999 | $127M |
| 2000 | $118M |
| 2002 | $160M |
| 2003 | $198M |
| 2004 | $238M |
| 2005 | $294M |
| 2007 | $304M |
| 2008 | $294M |
| 2009 | $257M |
| 2011 | $266M |
| 2012 | $269M |
| 2013 | $377M |
| 2014 | $453M |
| 2015 | $750M |
| 2016 | $780M |
| 2017 | $790M |
| 2018 | $1.02B |
| 2019 | $1.2B |
| 2020 | $1.3B |
| 2021 | $1.5B |
| 2022 | $1.65B |
| 2023 | $2.4B |
| 2024 | $3B |
| 2025 | $3.5B |
| 2026 | $4B |
| Year | Sale | Team valued at |
|---|---|---|
| 2000 | Michael Heisley buys the team from John McCaw Jr.'s Orca Bay for US$160M | $160M |
| 2012 | Robert Pera's group (Memphis Basketball LLC) buys the team from Michael Heisley for $377M | $377M |
| 2018 | Pera buys out Steve Kaplan and Daniel Straus (about 28% to 30% combined) at a valuation ESPN put at $1.3B to $1.4B; the midpoint is shown (computed from price and stake) | $1.35B |
Forbes valued the team at $133M in 1998 and $4.0B in 2026, about 30 times as much. The biggest one-year jump was $750M, from $1.65B in 2022 to $2.4B in 2023, a 45% rise.
How the current owner bought it
- Heisley agreed in principle on 11 June 2012, and local partners joined on 23 August.
- Pera planned to buy alone. Shares in Ubiquiti, his company, fell from about $34 to under $9 before closing, so he brought in nearly 20 partners.
- He ended with under 30% of the team; Sports Illustrated later put it at 25%.
- A buy-sell clause let partners Steve Kaplan and Daniel Straus name a price after five years. Pera could then buy them out or sell to them. They triggered it in autumn 2017.
- On 9 April 2018 Pera chose to buy their combined 28% to 30%. ESPN put the valuation at $1.3B to $1.4B.
Partners in the team
| Partner | Stake | Who they are |
|---|---|---|
| 2012 partners, including J.R. Hyde, Staley Cates, Billy Orgel, Justin Timberlake, Penny Hardaway, and Peyton and Ashley Manning | Local partners were to hold up to one-third under the 2012 plan | Members of the 2012 buying group; Hyde founded AutoZone |
| Steve Kaplan and Daniel Straus (former) | About 14% each until April 2018 | Bought out by Pera at a $1.3B to $1.4B valuation, which implies about $364M to $420M paid |
How the team is run
- ESPN reported in 2016 that Pera was mostly absent and kept minority owners out of decisions. It also reported that a dispute with Kaplan over team shares was settled confidentially.
- The FedExForum lease expires in 2029. In August 2025 the city and team had a plan for $550M of renovations and an understanding on a long-term stay.
- On 30 March 2026 Shelby County commissioners asked the state to let hotel taxes run to 2050 to help fund the work. On 10 June 2026 the interim head of the Memphis chamber said the team will sign and stay for decades.
- The Memphis and Shelby County Sports Authority approved a funding agreement for the renovations on 21 August 2025. On 8 October 2026 it voted on a construction contract with Flintco, described as a step toward a new lease. No new lease had been signed as of 13 October 2026, Roundtable reported, citing The Daily Memphian.
- NBA Commissioner Adam Silver said on 14 February 2026 that moving the Grizzlies was not under consideration.
Quick answers
Who owns the Memphis Grizzlies?
Robert Pera has controlled the Grizzlies since 25 October 2012, when his group paid Michael Heisley $377M.
How much are the Memphis Grizzlies worth?
Forbes values the Memphis Grizzlies at $4B in its October 2026 list, up 14% from $3.5B a year earlier. That makes them the 30th most valuable of the 30 teams; in 1998 Forbes put the team at $133M.
How much did the current owner pay for the Grizzlies?
$377M (Robert Pera, 2012). Forbes now values the team at about 11 times that price.
Who owned the Memphis Grizzlies before the current owner?
Michael Heisley (2000-2012). Bought from John McCaw Jr. for $160M and moved the team to Memphis in 2001. A 2006 sale of his 70% collapsed.
Open questions
- The exact stake Pera holds today and the current list of partners were not found.
- What McCaw paid Griffiths in 1995-96 was not found.
- The date of the Heisley purchase is unresolved: 2000 in one source, January 2001 in another.