Credit: Vicki Thompson
Ubiquiti chief Robert Pera has reportedly signed some local partners in his bid to buy the Memphis Grizzlies.?
Official word from the camp of Ubiquiti Networks CEO Robert Pera is that he is seeking partners for his deal to buy the Memphis Grizzlies NBA team.
It has been rumored for weeks that Pera might bring partners into the deal, and I spoke with an adviser to Pera on his deal for the team on Friday who confirmed that he has signed on at least three people to co-own the team with him.
The adviser, who didn?t wish to be identified by name, said some of the partners will be from the Memphis area, while others are from outside. The adviser said Pera?s interest in securing partners is not because he can?t afford it otherwise, as has been suggested - it?s because he wants to make sure he is ?engaged with the Memphis community in a meaningful way and also has good strategic thinking around the table.?
Everything around Pera?s bid has been kept very hush-hush, as it is all ongoing and waiting the approval of the NBA Board of Governors. It?s still not clear when an official decision will be made, but the adviser said the process is ?completely on track.?
For more background on the bid and the struggles of Pera?s company, click here.
Diana Samuels covers technology, cleantech, biotech and venture capital. Her phone number is 408.299.1835.
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