Jason Levien leaves 76ers, becomes CEO of Memphis Grizzlies

Jason Levien, the former player agent and Sacramento Kings front office executive who was key in the formation of the new 76ers ownership group, has recently sold his stake in the 76ers and will become CEO and managing partner of the Memphis Grizzlies.

In Memphis, Levien will have ultimate say in player-personnel decisions, overseeing Grizzlies general manager Chris Wallace.

Levien was instrumental in the formation of the new 76ers ownership group, and was reportedly a major player in putting together the ownership group led by Robert Pera to buy the Grizzlies. The sale was agreed upon in principle this past June and became official when it was unanimously approved October 25th.

"I appreciate what a special role the Grizzlies and FedExForum play in the Memphis community, and I know that we will build successfully on the foundation already in place," Levien has said about the opportunity.

"Jason and I share a vision for building a world-class team on and off-the-court," Pera said. "He has my complete trust, confidence and support in how best to lead our organization's efforts."

The ownership group also includes celebrities such as Peyton Manning, Justin Timberlake, Anfernee Hardaway and Harold Ford Jr.

Levien and Pera will hold a press conference tomorrow in Memphis.