relocation memphis relocation memphis successful effort ownership group basketball team canadian city vancouver british_columbia city memphis tennessee team began play season national_basketball_association nba franchise moves major league teams relocate canada united_states created expansion team toronto seasons vancouver performed poorly finished better reached playoffs owned owned vancouver owner team attempted buy intent interference nba sold immediately started process relocate team seven cities candidates team anaheim buffalo memphis new_orleans louisville las_vegas san_diego settling memphis end season seasons given average attendance middle league seasons saw reduction league lowest participating reasons team poor performance nba contributing conditions relocation weak canadian dollar players live canada lack local ownership background memphis previously hosted different major professional basketball team founded franchise moved memphis known team changed sounds folding prior nba merger created expansion team season creation toronto saw nba expand canada owned owner company process building place saw additional tenant canadian teams toronto hampered nba decision deny picks draft teams allowed draft pick following seasons win lottery teams hindered salary cap seasons seasons vancouver terrible record finished seventh seven seasons claimed sixth place close reaching playoffs team won games lost giving winning percentage change ownership march majority holding company sold seattle based november bought rest company stated committed retaining team vancouver forced sell following cost occurred expansion fees start company started attempts sell negotiated agreement owner large portion operations vancouver washington initially agreed purchase intent keeping teams vancouver instead washington bid leverage higher sales price offered million million bonus team ultimately relocated announcement september month bought team home venue center home nba franchise hawks franchise relocated atlanta georgia annual sell basketball games deal announced nba commissioner stated opposed relocation nba franchise moved relocated sacramento california stated goal remain vancouver succeed negative statements purchase agreement structured incentives team deal board vote issue january announced paid undisclosed walk away deal days later january announced sold chicago based million press conference stated support stern committed keeping franchise vancouver making winning team owner committed market reasons relocation president basketball operations stated final vancouver season company losing million season numbers questioned ceo salary cap million stated lost million owning included million relocation fee nba stated felt team sufficient support business community professor sports economics stated difficult attract corporate sponsors long team losing games lack good draft picks lead team failing win losing revenue noted team sought help general business community management issues general manager seasons non optimal player selection decisions included selecting draft signing million year contract extension putting salary cap squeeze consequently drafted point guards including failed develop jackson traded round pick hated vancouver signed free agent million sign million leave bench stated draft conditions nba allow franchise build winning team years nba asked high price providing means suitable income hand succeeded drafting reached playoffs season played sell crowd location team canada major contributor time exchange rate cents canadian dollar revenue collected canadian dollars player coach salaries paid dollars team ended spending revenue salaries point home game attendance league experienced drop attendance vancouver experienced larger fall average attendance ranking 16th league fell ranking 27th stated intentionally ran team financially aground people running insufficient marketing claiming basketball work vancouver running team lost millions millions stated vancouver better fan base nba teams statements denied proposed cities public announcement mid february possible relocation team representatives set road trip consider cities wanted franchise relocate city originally march apply nba relocation deadline later extended march similar deadline awarded considering relocation february contacted attempt relocate team louisville kentucky city lacked suitable venue state local officials agreed build new million arena nba franchise relocated city addition offer million year years locate team louisville memphis relocation effort led founder promised purchase team city venue temporary home new million venue ready use venue publicly financed sales tax government backed bonds hotel car rental taxes memphis efforts nba team started following relocation tennessee national_football_league nashville new_orleans louisiana mayor stated approached attempt attract city city opened million offered home franchise area economic development chamber stated secured guarantees purchasing season tickets club seating businesses extent waiting list relocation conditions considered option relocate anaheim area houston rockets looked relocation anaheim previous season anaheim home venue team known mighty ducks anaheim agreement tenant pond share revenues owner disney stated willing negotiate terms existing clubs los_angeles media market small limit revenue buffalo new_york announced interest attracting city appropriate venue arena center home buffalo ice hockey franchise mayor college basketball star stated attempt long shot worth try city previously hosted nba franchise relocated moved los_angeles san_diego mentioned potential site city lacked suitable venue visited las_vegas nevada negotiated mayor city offered team free land new arena pay construction issue stern demand stop accepting nba games placing team las_vegas strongest bids memphis louisville anaheim new_orleans venues place seen having edge memphis louisville needed public funding new venue city team play sub optimal location seasons construction new venue seen advantage tailor basketball team able control revenue team expected highest local radio television broadcasting rights louisville memphis cities lacked big major league teams granting team preferred air times increased attention fans media report concluded small cities higher attendance larger cities team professional league pointed strong support college basketball tennessee kentucky relocation vancouver organization established find local investor purchase team led plan create public entity ownership team stated attempt given time able secure deal team town relocation decision came quickly plan finalized stated willing sell team vancouver investor secure guarantee team remain town march announced selected memphis memphis louisville promising cities offered better deal poor local executive leadership louisville choice studied member nba group permission granted league team final game loss houston rockets april team final game vancouver based franchise road win golden state warriors april nba relocation committee gave approval memphis late june july unanimously approved relocation permitted purchase minority share franchise team administration relocated day final decision team set rookie camp relocation party held july week traded away players guard played aftermath memphis solve financial problems team cumulative loss million team manage win season reach playoff times failed advance playoffs season remain according forbes valuable nba franchise million attendance exceeded vancouver levels inaugural season average spectators season nba relocation kansas city kings relocated sacramento california sacramento kings followed decade relocation original new_orleans team relocation longer treated league season franchise known charlotte reclaimed received sole rights history charlotte second relocated teams moved canada mid-1990s jets phoenix arizona new team returned city relocation canada major_league_baseball teams montreal relocated washington failure vancouver franchise reason nba changed expansion drafting rules following return charlotte league allowed pick fourth draft later restricted picks major change unnamed nba executive stated franchise return vancouver lifetime stern revealed february vancouver considered pittsburgh tampa kansas_city reasons considering vancouver strengthening canadian dollar years early 2010s roughly par dollar influx international players willing play canada sell outs pre season exhibition games new vancouver having state art venue increased realization nba executives vancouver failure predominantly lack interest basketball vancouver city resurrection professional sports creation junior hockey winter olympics joining location city allows varied sports experiences skiing hunting fishing golf partially limit interest spectator sports ownership group owned announced considering purchasing december bought league potential relocation club financial difficulties effectively taken table new_orleans native owned nfl purchased team year later denied rumours wanted purchase sacramento kings family expressed ready basketball having nba vancouver comes market support company improved left
Vancouver Grizzlies relocation to Memphis