Davis-Laettner group submits Grizzlies bid

Updated: March 8, 2007, 11:29 PM ET
By Chris Broussard | ESPN.com

Grizzly Acquisitions Holdings, an investment group led by former NBA players Christian Laettner and Brian Davis, submitted an application to purchase majority ownership of the Memphis Grizzlies to the NBA office on Thursday, according to a source in Memphis, Tenn.

Davis and Laettner are attempting to purchase majority owner Michael Heisley's 70 percent share of the franchise, which is valued at $360 million. The application is pending review and approval by the NBA's Board of Governors, which ...

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