The Memphis Grizzlies will lose nearly $30 million in 2006 and if Christian Laettner and Brian Davis are successful in their bid to purchase the franchise, they will trim payroll.

The former Duke University basketball teammates plan to fund their purchase of Michael Heisley's 70-percent majority share by selling approximately $170 million worth of "ownership units" of their Grizzly Acquisition Holdings LLC.

"Davis and Laettner, based on their collective knowledge of professional basketball and the NBA, believe talented players can be recruited at lower payroll costs in order to execute the Business Plan," according to the information.

Via Commercial Appeal

Memphis Grizzlies

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