Griffiths sold Orca Bay to
Seattle-based
John McCaw, Jr. in 1995 and 1996.
[1][36] In September 1999, McCaw announced the sale of the Grizzlies, but not the arena or the Canucks, to NHL's
St. Louis Blues-owner
Bill Laurie for US$200 million.
[37] He stated that he intended to move the Grizzlies to
St. Louis, but the transaction was stopped by the NBA.
[38]
Instead, McCaw sold the team to
Chicago-based
Michael Heisley for US$160 million. At the time he stated that he intended to keep the team in Vancouver,
[39] but immediately started a process to find a suitable relocation city in the US.
[40] Cities considered for relocation of the team included Memphis,
[41] Nashville,
[42] Las Vegas,
[40] New Orleans, St. Louis,
[43] Anaheim,
San Diego,
[44] Buffalo[45] and
Louisville.
[46] Despite the need for the construction of a new venue to house the team on a permanent basis,
[47] Memphis was announced as the recipient city (pending league approval) on 26 March 2001.
[48] The NBA Board of Governors approved the move on 4 July 2001