HoopsHype Michael Heisley rumors

December 12, 2013 Updates

Most Griz fans probably are not familiar with Dave Mincberg. He began the ownership/management transition -- alongside former agents Jason Levien and Stu Lash, and ESPN writer John Hollinger -- as the team’s lead attorney much like Stan Meadows was to former owner Michael Heisley. Now, there are rumblings that Mincberg’s role has been greatly reduced as Levien deals with his first internal snag. I’m hearing that Mincberg ruffled feathers with his unwanted ambition that included a desire to effectively become the team’s general manager. Memphis Commercial Appeal

May 31, 2013 Updates
May 28, 2013 Updates
May 3, 2013 Updates
April 2, 2013 Updates

Kohl, who purchased the Bucks in 1985 from Jim Fitzgerald for approximately $19 million, is apparently still receptive to bringing on an additional business partner. The possibility of the 76-year-old Heisley re-entering the Bucks’ picture is highly unlikely. Heisley suffered a debilitating stroke in February and remains in a Chicago-area hospital. I’ve been told he’s been in a coma for more than a month and the prospects of a recovery are extremely bleak. Racine Journal-Times

February 24, 2013 Updates

Former Memphis Grizzlies owner Michael Heisley is hospitalized in a Chicago-area hospital after recently suffering a stroke. Heisley was stricken last weekend soon after returning home from Houston, where he attended the NBA All-Star game. “The family appreciates all the thoughts and prayers,” Heisley’s wife, Agnes, said Saturday in a statement that requested respect for the family’s privacy. Memphis Commercial Appeal

“I’m speechless. This really bothers me,” said All-Star forward Zach Randolph, who visited with Heisley in Houston. “He’s a good guy and a man of his word. He took care of us and believed in us. I’m praying for him.” Griz coach Lionel Hollins broke the news to the team Saturday afternoon after a practice in FedExForum. The Griz then left to board a flight for Brooklyn, where they will play the Nets on Sunday night in the new Barclays Center. “It’s sad,” Hollins said. “I send my prayers out to the family. Mike Heisley has been good to me. It’s sad to see this happen and for him to be in this situation. We’ll continue to pray for him and wish him a speedy recovery.” Memphis Commercial Appeal

February 20, 2013 Updates

Yet while it has been reported that Gay was happy to get out of Memphis, he said both that and the idea that he definitely wouldn't re-sign with the Grizzlies wasn't true. "It was a total shock to me," he said of the trade. "I never went to any of (the new management) and told them that I wanted to be traded. I've never done that. The summer before, I did. I said this team has a chance to be a competitor in the West, and we're going to be good, but if you plan on doing anything – this is the summer before – I said I want to express to you that I may be wanting to move on. "And this was with Chris Wallace (the general manager who remains but who is no longer involved like he was under former owner Michael Heisley) … I wanted to see it through, because we started so well. We were playing so great as a team, it kind of made me feel like this is it. This could be the chance for us. There's not too many times when you can build a team like that. Obviously financial stuff goes on, but when you build a team like that you have to see it through." USA Today Sports

January 18, 2013 Updates

Word is interest in buying the Wolves is as high as ever. One potential buyer is former Grizzlies owner Michael Heisley. Multiple sources insist that he's kicking the tires. Before any transaction occurs, the Target Center renovation plans need to be finalized. The Wolves and Minneapolis officials were scheduled to meet on Wednesday. 1500 ESPN

January 17, 2013 Updates

Former Memphis Grizzlies owner Michael Heisley remains intrigued by the idea of one day owning an NBA team again. "I have expressed some interest, maybe, of getting back in the league, depending on the situation. Obviously, that's important," Heisley told USA TODAY Sports Thursday. "Yeah, I would be interested in getting back. Right now, I don't have any ongoing, definitive conversations with anybody who might be currently selling their team. "At least some people around the NBA know I am interested. (NBA Commissioner) David Stern called me and asked if that was the case, and told him, 'Yeah.' " USA Today Sports

January 8, 2013 Updates

But the chatter among NBA insiders has intensified in recent months with many believing Kohl could sell the team outright or bring on board a partner who would eventually become the Bucks’ primary owner. One well connected individual who has his finger on the pulse of the Bucks’ ownership situation insisted just a few weeks ago that Kohl would sell his NBA franchise, which he has owned since March 1985, to Michael Heisley, a billionaire from Chicago. Racine Journal-Times

December 20, 2012 Updates
December 1, 2012 Updates

With Memphis off to a fast start, former Grizzlies owner Michael Heisley has been telling team execs that he wishes he hadn't sold the team, after all. It's not just that the Grizzlies look like they have one of the top teams in the West. Heisley has shed almost 80 pounds in recent months and has found himself getting around with renewed energy. New York Daily News

November 10, 2012 Updates

We haven't necessarily seen the last of former Memphis Grizzlies owner Michael Heisley. Not if you buy what's circulating with increasing volume about Heisley's interest in eventually buying the Milwaukee Bucks from Herb Kohl. Sale speculation about the Bucks has been a staple for years, but the latest scenario has the Chicago-based Heisley making a serious bid to buy the franchise if Sen. Kohl can secure the new building (or Bradley Center refurbishment) that would cement the team's future in Wisconsin. ESPN.com

November 8, 2012 Updates

The Pera-led group closed on the $377 million purchase of the franchise from Michael Heisley late last month. A source told The Commercial Appeal Monday night that the group used $125 million available to NBA teams through the league's credit facility and another $50 million in bank financing to close the deal. But that's nothing new in the NBA. Nineteen of the league's 30 teams use the league's $2.3 billion credit facility, and many use it to the $125 million per-franchise maximum. The facility is a pool of money banks provide through the league and offer at lower rates because of the NBA's credit worthiness and other guaranteed future revenue factors such as its long-term television deal. Memphis Commercial Appeal

Franchises are also allowed up to $50 million in financing provided outside of the NBA's facility. The financing is a significant chunk of the purchase, but it isn't known precisely how the rest of the equity is divvied up since Pera's group has said it would not disclose ownership percentages. As controlling owner and chairman, Pera is the largest shareholder. Sources told The Commercial Appeal last month that Pera will own less than 50 percent of the franchise; league rules require controlling owners to own at least 15 percent. Twenty-four people or entities are listed as partners. Memphis Commercial Appeal

November 1, 2012 Updates

The Memphis Grizzlies have changed owners officially, and the new bosses want to make clear their commitment to staying in Tennessee very clear. "The Grizzlies are here to stay in Memphis," new Grizzlies chairman Robert J. Pera said. The Grizzlies announced Wednesday that the reported $377 million sale by Michael Heisley had been finalized to a group led by Pera, a former Apple engineer who founded the communications technology company Ubiquiti Networks. The group includes local businessmen, entertainer Justin Timberlake, Memphis native and former NBA player Penny Hardaway, a former U.S. congressman and Ashley Manning, wife of four-time NFL MVP Peyton Manning. ESPN.com

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