The writing was on the wall for the Vancouver Grizzlies when the Canadian dollar weakened after the 1998/99 NBA lockout, which caused Orca Bay Sports and Entertainment to lose money with the franchise.
Eventually, the franchise was sold to Michael Heisley, who moved the team to Memphis, Tennessee, in 2001.
While it was sad for the Vancouver fans, the move was one of the most exciting developments in Memphis history. The city quickly embraced its NBA team and has never let go since.
One of the people most excited about the Grizzlies’ arrival in Memphis was FedEx chairman and founder Frederick W. Smith.
“There’s just a different mood in the city. It gives the city a point of pride,” Smith said in The Commercial Appeal about the Grizzlies’ arrival in Memphis.
Smith’s long-lasting ties with the Grizzlies
Since Fred grew up in the Memphis area and studied at local schools, he has a deep connection with the city. Smith became a businessman, and over time, he gained a controlling interest in Ark Aviation Sales.