Robert Pera agreed to a three-pronged proposal of safeguards that essentially binds the Grizzlies in Memphis for another 15 years as part of his purchase.

"I'm looking forward to those Memphians who are going to connect this team in an even stronger way to this community," David Stern said last week. "We think Memphis is a great community and has the ability and the capacity to be an extraordinary leader in the NBA."