FedEx executive dismisses Grizzlies' relocation fears, citing clear ownership commitment and ongoing arena investment. The team's future remains firmly in Memphis.
As speculation around the future of the Memphis Grizzlies continues to surface, a familiar voice with deep ties to the city is pushing back firmly against the noise.
Richard Smith, a senior executive at FedEx and the son of company founder Fred Smith, has dismissed any notion that the franchise is at risk of leaving Memphis. After commissioning a sports advisory firm to assess the situation surrounding majority owner Robert Pera, Smith said the findings were clear.
“I don’t think there’s any truth to rumors that he wants to move the team,” Smith told The Commercial Appeal, adding that there was also no indication Pera is looking to sell.
Smith’s comments arrive at a time when uncertainty has grown around the franchise, fueled by on-court struggles, declining attendance, and ongoing lease negotiations tied to FedExForum. Yet from an ownership standpoint, the message appears consistent. Pera, who purchased the team in 2012, remains committed to Memphis.
That stance aligns with what local leadership has been signaling for months. Memphis Mayor Paul Young has repeatedly expressed confidence that a long-term lease extension will be finalized, even as negotiations continue without a defined timeline.
However, the current lease runs through the 2028-29 season, with plans for a significant arena renovation project estimated at $550 million already in motion.
The city has taken tangible steps in that direction. In 2025, the Memphis City Council approved an initial $80 million allocation toward upgrades, with the expectation that renovations would be carried out in phases over the coming years.
The investment reflects a broader effort to secure the franchise’s future locally, both from an infrastructure and economic standpoint.
Smith himself explored avenues to become more directly involved with the organization. He acknowledged interest in purchasing the team or acquiring a minority stake but noted that no meaningful opportunities were available.
“There were not many minority pieces for sale,” Smith said, effectively reinforcing the idea that ownership stability is not currently in question.
From a league perspective, relocation does not appear to be part of the immediate conversation. NBA commissioner Adam Silver recently stated that moving existing franchises is “not on the table right now,” with the league’s focus instead shifting toward potential expansion markets.
Still, the backdrop to these discussions is a franchise in transition. Memphis has pivoted toward a younger roster build, signaling a longer-term reset after a disappointing stretch. That shift, combined with a drop in ticket demand, has contributed to the perception of instability, even if the underlying business fundamentals remain intact.
For now, the signals from ownership, local government, and league leadership point in the same direction. Despite the external speculation, there is no concrete indication that the Grizzlies are preparing to leave Memphis.
If anything, the ongoing negotiations and planned investments suggest the opposite: a franchise attempting to recalibrate on the court while solidifying its roots off it.