Michael Heisley
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Michael Heisley
| Michael E. Heisley, Sr. | |
|---|---|
| Born | March 13, 1937 Washington, D.C. |
| Residence | Chicago, Illinois |
| Citizenship | United States |
| Education | Georgetown University |
| Occupation | businessman |
| Known for | owner of the Memphis Grizzlies |
| Net worth |  US $ 1.6 billion (est.)(2011)[1] |
| Spouse | Married, 5 children |
Michael E. Heisley (born March 13, 1937) is an American businessman who is the majority owner of the Memphis Grizzlies.[2] He orchestrated the move of the team from Vancouver in 2001,[3][4] after promising to keep the franchise in Vancouver when he purchased it in 2000.[5] He agreed in 2006 to sell his 70% controlling stake in the Grizzlies to a consortium including Christian Laettner and Brian Davis,[6] but the group missed a deadline for the purchase[7] and Heisley found no other bidder willing to meet the team's $300M asking price.[8]
Personal life
Heisley, a computer salesman by background,[1] was born in Washington, D.C., grew up in Alexandria, Virginia, and has residences in Chicago, Illinois,[9] and Jupiter Island, Florida.[10] He is a graduate of Georgetown University,[10] and is married with five children.[10] He has appeared several times on the Forbes rich list.[1]
Heisley is also involved in multiple business ventures, such as:
- Heico Holding, Inc.[10]
- The Heico Companies, LLC [5]
- Heico Acquisitions [11]
- Stony Lane Partners [10]
A computer salesman by trade, he used $150,000 from selling his home and $10 million in bank loans to acquire Conco, maker of sewer and drain equipment. Later Heisley expanded his holdings through the purchase of several near-bankrupt Rust Belt manufacturers. As of 2009, Heico operates 40 companies, largely in steel, construction, and equipment.
He is involved with the Heisley Family Foundation.[12]
References
- ^ a b c "Michael Heisley Sr. - Forbes". Forbes. March 9, 2011. http://www.forbes.com/profile/michael-heisley.
- ^ Cacciola, Scott (1 February 2010). "Grizzlies owner Michael Heisley's moves have been bold, mostly for the best". http://www.commercialappeal.com/news/2010/feb/01/heisley-makes-the-grade-t/.
- ^ "NBA roundup: Grizzlies told they can move". New York Times. 13 February 2001. http://www.nytimes.com/2001/02/13/sports/nba-roundup-grizzlies-told-they-can-move.html.
- ^ Shaikin, Bill (27 March 2001). "Grizzlies are taking Memphis expressway". LA Times. http://pqasb.pqarchiver.com/latimes/access/70086519.html?dids=70086519:70086519&FMT=ABS&FMTS=ABS:FT&type=current&date=Mar+27%2C+2001&author=BILL+SHAIKIN&pub=Los+Angeles+Times&desc=Grizzlies+Are+Taking+Memphis+Expressway%3B+Pro+basketball%3A+If+NBA+approves%2C+FedEx+Corp.+will+play+major+role+and+might+rename+the+team.&pqatl=google.
- ^ a b Shapiro, Mark (25 January 2010). "Chicagoan Buys Grizzlies, Says They'll Stay In Vancouver". Chicago Tribune. http://pqasb.pqarchiver.com/chicagotribune/access/48278199.html?dids=48278199:48278199&FMT=ABS&FMTS=ABS:FT&type=current&date=Jan+25%2C+2000&author=Compiled+by+Mark+Shapiro&pub=Chicago+Tribune&desc=CHICAGOAN+BUYS+GRIZZLIES%2C+SAYS+THEY%27LL+STAY+IN+VANCOUVER&pqatl=google.
- ^ Olson, Parmy (3 October 2006). "Billionaire sells Memphis Grizzlies for $360M". Forbes. http://www.forbes.com/2006/10/03/grizzlies-billionaire-basketball-face-cx_po_1003autofacescan01.html.
- ^ "Davis-led group misses deadline to buy control of Grizz". Associated Press. 15 January 2007. http://sports.espn.go.com/nba/news/story?id=2732342.
- ^ Van Riper, Tom (28 December 2009). "Memphis Blues". Forbes. http://www.forbes.com/forbes/2009/1228/companies-nba-basketball-heisley-memphis-blues.html.
- ^ "Hard Work Has Paid For Grizzlies Owner Vancouver Upset By His Broken Promises". Charlotte Observer. 28 March 2001. http://nl.newsbank.com/nl-search/we/Archives?p_product=CO&s_site=charlotte&p_multi=CO&p_theme=realcities&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=0EB6D2D2CE469719&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=GooglePM.
- ^ a b c d e "The World's Billionaires (2009): #522 Michael Heisley Sr.". Forbes. March 11, 2009. http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Michael-Heisley-Sr_93KG.html.
- ^ Melcher, Richard A (7 March 1994). "Care and feeding at Nutri/System". Business Week. http://www.businessweek.com/archives/1994/b336161.arc.htm.
- ^ Ruane, Michael E (24 September 2004). "Heisley Foundation Gives $2.5 million to Vietnam Veterans Memorial Fund". Washington Post. http://www.washingtonpost.com/wp-dyn/content/article/2009/09/24/AR2009092403856.html.
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