Robert Pera, the controlling owner of the Memphis Grizzlies, announced Monday that he will retain his majority interest in the team in connection with the “buy-sell” process.
Pera, 40, made the announcement in an open letter that was emailed to Grizzlies season ticket holders. He will continue to operate the team with controlling interest after making a “buy-sell” agreement with minority partners.
Pera, who is the founder and CEO of the Ubiquiti Networks, purchased the Grizzlies in 2012.
ESPN’s Adrian Wojnarowski contributed to this report.
Source : ESPN
