Michael E. Heisley (March 13, 1937 – April 26, 2014) was an American businessman and former majority owner of the

Memphis Grizzlies The Memphis Grizzlies (referred to locally as the Grizz) are an American professional basketball team based in Memphis, Tennessee. The Grizzlies compete in the National Basketball Association (NBA) as a member of the Southwest Division of the ...

Biography

A computer salesman by trade, Heisley used $150,000 from selling his home and $10 million in bank loans to acquire Conco, maker of sewer and drain equipment. Later Heisley expanded his holdings through the purchase of several near-bankrupt

Rust Belt The Rust Belt, formerly the Steel Belt or Factory Belt, is an area of the United States that underwent substantial Deindustrialization, industrial decline in the late 20th century. The region is centered in the Great Lakes and Mid-Atlantic (Uni ...

manufacturers. As of 2009, Heico operates 40 companies, largely in steel, construction, and equipment. Heisley was also involved in multiple business ventures, such as: *Heico Holding, Inc. *The Heico Companies, LLC *Heico Acquisitions *Stony Lane Partners He appeared several times on the

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rich list.

Memphis Grizzlies

He orchestrated the move of the team from Vancouver in 2001, after promising to keep the franchise in Vancouver when he purchased it in 2000. He agreed in 2006 to sell his 70% controlling stake in the Grizzlies to a consortium including

Christian Laettner Christian Donald Laettner (, ; born August 17, 1969) is an American former professional basketball player. His college career for the Duke Blue Devils men's basketball, Duke Blue Devils is widely regarded as one of the best in National Collegi ...

and Brian Davis, but the group missed a deadline for the purchase and Heisley found no other bidder willing to meet the team's $300M asking price. In 2012 Heisley decided to sell the Grizzlies and step aside from all of his corporate interests due to his advancing age. The team announced on June 11, 2012, that Ubiquiti Networks founder Robert J. Pera would be purchasing the team, but Heisley would remain on board until the sale was finalized. The sale was finalized on October 25, 2012, and the team is now a part of Memphis Basketball, LLC.

Personal life

Heisley, was born in

Washington, D.C. Washington, D.C., formally the District of Columbia and commonly known as Washington or D.C., is the capital city and federal district of the United States. The city is on the Potomac River, across from Virginia, and shares land borders with ...

, grew up in

Alexandria, Virginia Alexandria is an independent city (United States), independent city in Northern Virginia, United States. It lies on the western bank of the Potomac River approximately south of Washington, D.C., D.C. The city's population of 159,467 at the 2020 ...

, and had residences in

Chicago, Illinois Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of Unite ...

, and Jupiter Island, Florida. He was a graduate of

Georgetown University Georgetown University is a private university, private Jesuit research university in Washington, D.C., United States. Founded by Bishop John Carroll (archbishop of Baltimore), John Carroll in 1789, it is the oldest Catholic higher education, Ca ...

, and was married with five children. He was instrumental in establishing and running the Heisley Family Foundation. Heisley died on April 26, 2014, from complications due to a stroke. He was 77.

References

{{DEFAULTSORT:Heisley, Michael 1937 births 2014 deaths Philanthropists from Illinois Georgetown University alumni Memphis Grizzlies owners Businesspeople from Alexandria, Virginia People from Kane County, Illinois Businesspeople from Washington, D.C. People from Jupiter Island, Florida 20th-century American businesspeople 20th-century American philanthropists