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The following release was put out by the Memphis Grizzlies this afternoon:

Joe Nicosia and Pitt Hyde, the representatives of Local Ownership on the Grizzlies Executive Committee, issued the following statement today:

We would like to thank Jason for his contributions to Memphis and wish him well in his future endeavors.  We fully support Robert in his building of a world-class organization and look forward to continuing to work in concert to achieve our ultimate goal of bringing a championship parade down Beale Street.  We are confident that as the 2014-2015 season draws near, all of Grizz Nation will share in our excitement regarding the future of this organization.”

There has been a lot of speculation about how the local ownership group will react to the sudden departure of CEO Jason Levien, who was largely credited with organizing the coalition of minority owners to join Robert Pera’s bid to buy the franchise from Michael Heisley in 2012. While there is not much substance to the statement, the group could have choosen to remain silent, and the fact that they put out a statement of support for Robert Pera’s direction is encouraging.

Stay tuned to 3SOB.com for more on the Grizzlies evolving front office shakeup.

@jmay11

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