On January 25, 2001, it was announced that the Grizzlies would be sold by Orca Bay Sports & Entertainment to Michael Heisley, who originally intended to keep the team in Vancouver. However, the team moved, in part due to the weak Canadian dollar, lack of local ownership, and the unwillingness of some players to live in Canada.
In 2001, Orca Bay Sports & Entertainment sold the Grizzlies to Michael Heisley.  He had initially planned to keep the team in Vancouver but ultimately relocated it due to factors like a weak Canadian dollar, lack of local ownership, and player reluctance to live in Canada.