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  September 5, 2001
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Home > Company Index > Leisure > Professional Sports Teams & Organizations > Hoops, L.P.

Hoops, L.P.
 PROFILE
Life's been pretty grisly for Hoops, but the firm hopes its exodus from Canada will improve its fortune. The company owns the Memphis Grizzlies basketball franchise, formerly of Vancouver. The move to Tennessee came in 2001 after Chicago billionaire Michael Heisley purchased the team the previous year from John McCaw (who owns Vancouver's Canucks hockey franchise) for $160 million. While the Grizzlies will initially play host at the 19,000-seat Pyramid, Memphis has pledged public funding for a new arena. The franchise is the first to relocate since 1985. AutoZone founder J.R. "Pitt" Hyde III is a minority investor. The team, formed in 1995, holds the record for the longest losing streak in NBA history (23 games).

 COMPETITION
Dallas Mavericks (dossier)
San Antonio Spurs, Ltd. (dossier)
Jazz Basketball Investors, Inc. (dossier)

 FINANCIAL OVERVIEW
Fiscal Year-End: June
2000 Sales (mil.): 51.30
1-Yr. Sales Growth: 81.9%
Employees: 200
Revenue per employee: $256,500.00

 KEY PEOPLE
• Michael Heisley
    CEO
• Dave Cobb
    CFO

 CONTACT INFO
1 Auction Ave.
Memphis, TN 38105
US
Phone: 901-888-4667
Fax: 901-205-1235
Online: Web Site

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Copyright © 2001, Hoover's Inc. Austin, Texas.
For changes and updates, contact Hoover's directly.


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