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**MemphisX** · 12-19-2006, 01:56 PM

Quote:

Brian Davis and Christian Laettner shot an airball.

The former Duke teammates’ bid to buy controlling interest in the Memphis Grizzlies ended Tuesday when majority owner Michael Heisley terminated their purchasing agreement, according to an NBA source familiar with the deal.

Davis’ efforts to secure enough financing to buy Heisley's 70 percent have not progressed enough for the NBA to review an application.

According to the source, Davis no longer has enough time to complete the NBA process and close on the transaction before the Jan. 15 deadline outlined in his purchasing agreement with Heisley.

Davis reportedly wanted an extension, and Heisley refused.

The potential sale was based on the Grizzlies being valued at $360 million.

Davis, who put up at least $1 million in escrow, will lose a significant amount based on legal fees and other costs incurred during his pursuit.

He’s shown interest in buying the Griz most of this year, and publicly announced his intentions in October when the team opened training camp.

**Rawse** · 12-19-2006, 02:06 PM

Something tells me that if Davis purchased the team, cutting payroll wouldn't have been enough. He'd have had to cut...like...napkin stock at the concession stands.

Back to square one.

**cpawfan** · 12-20-2006, 01:50 PM

Overall, this is good for the NBA as that seemed like an incompetent ownership group from the beginning.

The bigger question is does Heisley go ahead and dump Mike Miller's salary? Hello Portland...

carlos710 · 12-21-2006, 11:53 AM

So, jerry west can start dealing to improve the team ?

(And to think the grizzlies had a pretty good shot at iverson with EJ's huge expiring contract)

**Diable** · 12-22-2006, 07:48 PM

I don't know if Iverson would have gone to Memphis given their current record.Probably in their better interest to get a high draft pick really.

carlos710 · 12-23-2006, 01:19 PM

Quote:

Originally Posted by Diable

I don't know if Iverson would have gone to Memphis given their current record.Probably in their better interest to get a high draft pick really.

True. I forgot about that little detail

Still, west could bring some good talent using EJ contract if heisley accepts it (which doesnt seems likely)

Bring something useful with EJ contract, add 1 or 2 players in the offseason (using the MLE) and hope to get Oden or some other good rookie in the upcoming draft and you end up with a way better team

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