New FedExForum Documents Offer Strong Clue About Grizzlies’ Future In Memphis

On Thursday, Oct. 8, the Memphis and Shelby County Sports Authority voted on a Construction Manager at Risk Agreement and a funding agreement for the planned renovations at FedExForum, where the Memphis Grizzlies play their home games.

Public documents attached to that vote indicate local government and the Grizzlies could reach a new lease at the arena in the "near future," Samuel Hardiman of The Daily Memphian reported Monday. The Sports Authority is the public body that owns FedExForum.

The construction agreement spells out the work to be done by Flintco, an Oklahoma-based contractor. At the Sports Authority's meeting, it was described as a step toward a new, long-term lease with the Grizzlies, according to The Daily Memphian.

More than a dozen exhibits come with the agreements. Most of that material covers how the renovations will be governed. The exhibits also state that the upcoming work benefits the Grizzlies, and they list the team's corporate affiliates as beneficiaries of the project.

Under the documents, the Sports Authority becomes the contract holder for the renovations. The work will involve nearly $500 million in public tax dollars.

The Grizzlies' current lease at FedExForum runs through 2029. Memphis played its first three seasons in the city at the Pyramid before moving into FedExForum when it opened in 2004. The University of Memphis men's basketball team also plays its home games there.

City and county officials have put the cost of the renovation at $550 million. In 2023, the Tennessee legislature gave Memphis $350 million in state money for sports facility projects, and $230 million of it went toward FedExForum.

A year later, state lawmakers passed two bills sponsored by State Sen. Brent Taylor and State Rep. Kevin Vaughan that changed how the city and county divide hotel-motel tax revenue. Starting July 1, 2025, Shelby County receives up to $11.4 million to cover costs at FedExForum, including debt on the arena and future renovations.

Taylor said in 2024 that he wanted legislation in place that would allow the Grizzlies to sign another 20-year lease.

Memphis Mayor Paul Young laid out the next steps on Feb. 4, 2025, and said the renovations could last until 2032. In March 2025, the Memphis City Council approved transferring $80 million of the state money to the Sports Authority for the first round of work, which was mostly deferred maintenance along with architecture work for the larger project.

The council approved raising the city's hotel-motel tax from 3.5% to 4% in April 2025.

On May 8, 2025, the Sports Authority voted to pay $2 million to Kansas City-based Populous for architecture work. Three months later, on Aug. 21, it approved a funding agreement that made the Sports Authority the conduit for public money to flow to the Grizzlies during the renovations.

Draft funding documents obtained by The Daily Memphian that month showed the renovations could take place over seven to 12 years.

In February 2026, after his State of the City address, Young said he was confident the Grizzlies would sign a new lease before the current one expires in 2029. He did not give details on the negotiations.

Memphis went 25-57 last season. The team held training camp at Belmont University in Nashville before a preseason schedule that included a win over the Chicago Bulls.

The Grizzlies open the 2026-27 regular season Oct. 21 against the Utah Jazz at FedExForum. Tip-off is set for 7 p.m. CT.