Once upon a time, Memphis Grizzlies' franchise owner Michael Heisley was considered a cheapstake less interested in winning than turning a buck with a low payroll and some opportunistic trades. This theory was, at the time, completely true. Heisley actually bragged, in the midst of a really terrible on-court 2008 season, that the Grizzlies were able to stay in the black despite losing 80 percent of their games.
With Zach Randolph Contract, Grizzlies Shed Cheap Label In Magnificent Fashion
But Heisley has blown that strategy to smithereens. In the last 10 months, Heisley has committed $190 million of guaranteed salary to Rudy Gay, Mike Conley and Zach Randolph. The Z-Bo extension came late Sunday, after the Grizzlies had won their first playoff game in history, a squeaker over the shorthanded Spurs. Talk about a celebration.
The Grizzlies now have $203 million in salary obligations beyond this year, according to the superlative salary database at ShamSports.com. The Lakers have $240 million. The Lakers are based in Los Angeles, not Memphis, and make a mint at the gate and in TV revenue. Only true blue championship contenders like the Miami Heat, Chicago Bulls and -- well, I'd say Orlando Magic, but ...
Only true blue championship contenders and the Orlando Magic have salary commitments like this. Unless Heisley intends to bring in another All-Star, or Conley jumps into the Chris Paul Russell Westbrook Devin Harris stratosphere, Memphis isn't getting in the title conversation, especially as Randolph ages, especially if Marc Gasol can't be brought back. (If the owners get their way with a hard cap, Memphis won't be able to bring Gasol back. With Randolph's extension, the Grizzlies have about $52 million in salary locked up for 2011-12, depending on exactly how Z-Bo's contract is structured.)
A tenet of Buddhism is moderation. Heisley clearly hates Buddha. The Grizzlies went from insultingly cheap to wildly free-spending in a year. There is a middle path, but Memphis is ignoring it.
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