Oracle CEO Larry Ellison Attempting to Purchase the Memphis Grizzlies

by March 18, 2012
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Grizzlies owner Michael Heisley has been trying to sell his team for a while now, and it seems he might have himself a suitor: Oracle CEO and the world’s sixth richest man (according to Forbes), Larry Ellison. CSNBayArea has the report: “It looks like Larry Ellison is closer to getting into the NBA game. Ellison, the Oracle Corp. CEO and world’s richest men,is in advanced talks with Memphis owner Michael Heisley to buy the Grizzlies, according to multiple sources. Two of those sources said it is possible that Ellison and Heisley have a ‘handshake agreement’ on the transaction. Earlier Saturday, the Memphis Commercial Appeal reported that Heisley confirmed Ellison has inquired about buying the team. But he downplayed the chances of it actually happening. ‘I can’t downplay it enough,’ Heisley told the Commercial Appeal. ‘If it happens, I’ll be surprised. It’s in the initial stages. We’ve handled this just like we’ve handled several other dozen requests. My situation in Memphis has not changed a lick.’ … This is not the first time Ellison has attempted to buy an NBA team. He was a finalist to buy the Warriors in the summer of 2010, but lost out to Joe Lacob’s ownership group. Ellison, with a net worth of $36 billion according to Forbes, also confirmed in early January that he tried to buy the New Orleans Hornets but was outbid by the NBA, which currently owns that team.”