Memphis Grizzlies

Joshua Kushner & Brandon Arrindell Purchase Separate Minority Stakes in the Grizzlies

Geoff Calkins/Chris Herrington-Daily Memphian 1st Reported. Kushner connected to Trump Family. Arrindell is MUS Graduate.

March 22, 2019 - 3:39 pm

Geoff Calkins & Chris Herrington were first to report that Joshua Kushner (Thrive Capital) and Brandon Arrindell (Southeastern Asset Management) have joined a slew of local minority ownership partners in the Memphis Grizzlies. Neither the NBA or the Memphis Grizzlies have disclosed what that percentage of the team actually is. According to the Daily Memphian these are two separate ownership stakes in the team.

Kushner is the brother of President Donald Trump's son-in-law and Senior Adviser, Jared Kushner. Arrindell is a senior analyst and principal at Southeastern Asset Management. Arrindell is a 2004 graduate of Memphis University School. Staley Cates, another minority stakeholder in the Memphis Grizzlies, is vice-chairman at Southeastern Asset Management.

Last year Robert Pera bought out the shared majority (roughly 28% of the Memphis Grizzlies total value at the time) owned by Steve Kaplan and Daniel Straus.

There has been much speculation amongst Memphians discussing the long-term stability of the Memphis Grizzlies staying in Memphis (past 2021). It's only natural given the lack of visability in Memphis from owner Robert Pera.  As reported by the Sports Business Daily, the Grizzlies lease with the City of Memphis and Shelby County for FedExForum prohibits a move by the Grizzlies prior to 2021, and there are several match offers that local ownership/local governments can intervene with thereafter according to SBD.

More live coverage of the Memphis Grizzlies throughout the week on 92.9 FM ESPN.  

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