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Friday, January 21, 2000
Grizzlies ChronologyBy The Canadian Press
Key dates in the ownership history of the NBA's Vancouver Grizzlies:
-April 27, 1994 -- NBA board of governors awards franchise to Vancouver group headed by Arthur Griffiths for $125 million US.
-March 7, 1995 -- Minority shareholder John McCaw Jr. of Seattle assumes controlling interest of Griffiths's Northwest Entertainment Group, which includes Grizzlies, NHL's Vancouver Canucks and GM Place arena.
-Aug. 22, '95 -- Parent company of Grizzlies and Canucks changes name to Orca Bay Sports and Entertainment.
-Nov. 12, 1996 -- John McCaw buys the remaining shares in Orca Bay held by Arthur Griffiths.
-Aug. 21, 1999 -- Orca Bay, citing mounting losses, announces Grizzlies, Canucks and GM Place are up for sale.
-Sept. 23, '99 -- Missouri billionaire Bill Laurie, owner of NHL's St. Louis Blues, strikes deal to buy Grizzlies for about $200 million US.
-Oct. 29, '99 -- NBA tells Laurie to restructure deal for Grizzlies to make every attempt to keep team in Vancouver.
-Jan. 20, 2000 -- Laurie announces he is abandoning deal to buy Grizzlies because he can't move the team to St. Louis.
-Jan. 24, 2000 -- Grizzlies sold to Chicago businessman Michael Heisley Sr. for $160 million US.