Tag: Robert Pera

The “early termination” section provides that the Grizzlies “shall have the right, but not the obligation, to exercise The Early Termination Right” if in any season after the team’s 15th season in FedExForum 1) average paid attendance is “less than 14,900,” or 2) “the 64 largest suites are not sold in full,” or 3) “the number of Club Season tickets is less than 2,500.” The Grizzlies do not release average paid attendance, suite sales or club ticket sales. But average paid attendance for the portion of the 2019-2020 season that was played in FedExForum before the season was suspended is believed to be well under 14,900 per game — and dramatically under the 15,857 announced attendance.

Discussions between the parties — which have been largely tabled during the COVID-19 pandemic — have been amicable and geared to finding a mutually satisfactory solution, according to those with knowledge of the talks. At no time have the Grizzlies threatened to invoke the provision to terminate the lease and relocate the team. Grizzlies majority owner Robert Pera has repeatedly stated he is committed to keeping the franchise in Memphis.