Sources: Multibillionaire Ellison to Buy the Grizzlies?

It was reported yesterday that multibillionaire Larry Ellison (ranked as Forbes sixth richest man in the world with a net worth of around $36 billion) is talking with current Memphis Grizzlies management about buying the team.

For those who don't know or remember, Ellison also tried to buy the Golden State Warriors two years ago, but did not succeed. He also tried to buy the New Orleans Hornets earlier this year, but lost to the NBA.

It does not look like he will succeed this time either, because Grizzlies current majority owner Michael Heisley has said that his "preference will always be for somebody in Memphis to buy the team." 

You see, Ellison has made it clear that he wants a team in San Jose. That is what he tried with the Hornets and Warriors but was unable to do so. Having three teams in Northern California would not sit well with the NBA.

Heisley obviously cares for the Grizzlies and wants the team to stay in Memphis because he knows how much they mean to the city. Moving now when they are hitting their stride would be disastrous.

It's not like that could ever happen though. Moving the team somewhere else would be very challenging, considering that the city has a restrictive lease until 2021. Ellison would have a lot of trouble trying to relocate the team anywhere else.

Overall, I and many others do not like the idea of Ellison buying the Grizzlies. It seems that for now, the Grizzlies will happily stay in Memphis.