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Wednesday, February 28, 2001
Heisley meets with city, arena officials
Associated Press
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ANAHEIM, Calif. – Michael Heisley, owner of the financially
troubled Vancouver Grizzlies, brought his tour of potential
relocation sites to Anaheim on Tuesday.
Heisley, given until March 26 to continue his search, toured
Arrowhead Pond and met with city and stadium officials.
|  | | Grizzlies owner Michael Heisley is shopping for a new home. |
"I told him that we really wanted him and his team in
Anaheim," Mayor Tom Daly said. "It was a good meeting with a very
frank discussion of what he's looking for."
Heisley and Grizzlies executives met with the mayor, city
manager James Ruth and arena general manager Tim Ryan.
"I would say what he talked with me about most was the amount
of community support and corporate support he could expect. How
many suites could we sell? Would the Pond sell out for NBA
basketball?" Daly said. "He wants to understand every penny of
potential revenue at the Pond for his team."
The city is expected to offer free land to the Grizzlies to
build a training facility and possibly contribute to construction,
the Los Angeles Times reported Tuesday.
The arena operators, Ogden Corp. might offer to help buy out the
four years remaining on his lease at GM Place Arena in Vancouver,
the Times said.
The lease of the NHL's Anaheim Mighty Ducks forces any NBA team
moving into the arena to share with Disney revenue from luxury
suites, club seats and advertising, and does not provide an NBA
team with any share of naming-rights revenue.
The mayor confirmed Disney has agreed to conceptual lease
concessions, to be discussed with Heisley as a basis for
negotiation.
Heisley previously has visited Louisville and New Orleans, and
he was scheduled to meet in his Chicago office Monday with a
Louisville representative.
About 13 months ago, Heisley, the owner of Heico Cos., paid $160
million for the Grizzlies. He projects $46 million in losses this
season.
The Grizzlies have averaged 13,398 fans this season, down 2
percent from last year. The Grizzlies (18-39) play to 70 percent of
capacity and have lost four of every five games during their six
seasons in the NBA.
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