MEMPHIS, October 25, 2012 – The NBA announced today that the NBA Board of Governors voted to approve the sale of the Memphis Grizzlies franchise by Michael Heisley to technology entrepreneur Robert J. Pera and a group of limited partners.
The league’s approval is subject to the final close of the transaction which is expected to take place shortly. Until the transaction closes, all parties to the transaction have agreed to continue to abide by the terms of their confidentiality agreements.
Pera is the founder and CEO of Ubiquiti Networks, a publicly-traded next-generation communications technology company.
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