It does not reduce the team's 1.5 million dollar annual rent. Instead, the city has agreed to give the Grizzlies financial incentives, such as revenue from parking fees, and up to $500-thousand dollars a year to pay for operational services. City officials say the decision was difficult ... but necessary.
The Grizzlies home opener is April 16th. Meanwhile, several city council members urged Grizzlies executives to manage the team's finances better next season.
