11 June 2012

who is Robert Pera?

The question on the minds of Grizzlies fans tonight, just who is this young self made billionaire who just bought our beloved team?

Well, let's start with the obvious: he is 34 years old, rich, and moderately attractive (the rich part makes him more so). He is the founder/ CEO of Ubiquiti Networks, a wireless technology company. He has a blog that looks like it is just starting out, and there is an unused twitter handle that may or may not actually be him. I read somewhere that he loves basketball, and plays 5 times a week. He was a hardware engineer at apple, and quit when he was 25 to start his own company, see how that turned out.

He was born in St. Louis, but grew up in the Bay Area, and splits time between Taiwan and Silicon Valley. Two quotes that give me hope for his chances of improving an already vastly improved team:

“I quit my job because I wanted to have more success faster”

 “I am excited about the opportunity to build on the work that has made the Memphis Grizzlies a highly competitive NBA team,” Pera said. “I look forward to getting to know the Memphis community and to continuing the team’s success in Memphis.”

big Grizzlies news

After two consecutive trips to the playoffs and a return to respectability in the Western Conference, Michael Heisley has found a buyer to purchase the Memphis Grizzlies, according to sources with knowledge of the owner's plans.

Sources told ESPN.com that Heisley has an agreement in principle to sell the team to communications technology magnate Robert Pera, who at 34 has a spot on Forbes' list of the 10 youngest billionaries in the world.

 The purchase price is in the $350 million range, sources said. A formal announcement to publicize the agreement between the parties is expected this week, possibly as soon as later Monday, with NBA Board of Governors approval then required before Pera can be officially installed as successor to Heisley, who recently turned 75.

Sources say that Pera intends to keep the team in Memphis. The Grizzlies' lease at the FedExForum, furthermore, ties the team to the city until the year 2021, with steep financial penalties attached to breaking that lease.
thanks charlie

You did it.

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