BREAKING:

Former Grizzlies owner Heisley dies

The SportsXchange

Former Memphis Grizzlies owner Michael Heisley died on Saturday, the team announced. He was 77.

He died from complications of a stroke suffered 15 months ago.

Heisley was a billionaire business man who purchased the Vancouver Grizzlies in 2000 and moved them to Memphis a year later.

He owned the team until 2012, when he sold it to current owner Robert Pera for $377 million.

"This is a sad day as the entire Grizzlies' organization, the extended NBA family and the city of Memphis mourn the loss of former Grizzlies owner, Michael Heisley. We send our condolences to the entire Heisley family and want them to know they remain in our thoughts," Pera said in a released statement.
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