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Grizzlies Stay in Memphis; New $550 M Arena Lease Negotiated

4/23/2026

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Summary

Story summary

NBA commissioner Adam Silver announced the Memphis Grizzlies will stay in Memphis, noting owner Robert Pera has no interest in moving.
Silver wants the Grizzlies to play a few games a year in Nashville, while LeBron James and Draymond Green suggested moving team there and criticized Memphis hotels.
The FedExForum lease ends in 2029 with a $550 million renovation proposed.
Mayor Paul Young is negotiating a new lease for the arena.

History

Historical Context

The Vancouver Grizzlies, established in 1995, struggled in the NBA, finishing last in their division for most seasons. After relocating to Memphis in 2001, the team faced ongoing financial challenges despite local support, including significant investment from FedEx. As of 2023, negotiations for a new lease and proposed renovations highlight the delicate balance between local loyalty and market opportunities in professional sports.

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Story summary

NBA commissioner Adam Silver announced the Memphis Grizzlies will stay in Memphis, noting owner Robert Pera has no interest in moving.
Silver wants the Grizzlies to play a few games a year in Nashville, while LeBron James and Draymond Green suggested moving team there and criticized Memphis hotels.
The FedExForum lease ends in 2029 with a $550 million renovation proposed.
Mayor Paul Young is negotiating a new lease for the arena.

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