Joshua Kushner and Brandon Arrindell buy Grizzlies

Joshua Kushner and Brandon Arrindell, former clbadmates at Harvard, bought minority shares in the Memphis Grizzlies, according to league sources.

Kushner, brother of Donald J. Trump's brother, Jared Kushner, is founder and managing partner of Thrive Capital, a venture capital firm specializing in Internet and software investments. Arrindell is a Senior Analyst and Principal at Southeastern Asset Management, the local investment management company whose principal shareholder, Staley Cates, is a Vice Chairman of the Board.

Arrindell has been with Southeastern Asset Management for almost 10 years and graduated in 2004 from Memphis University School.

Arrindell and Kushner purchased separate minority shares and each did so on an individual basis.

These purchases follow the conclusion last spring of the "buy-sell" negotiation between the owner of the control, Robert Pera, then the large minority investors, Steve Kaplan and Daniel Straus, in which Pera bought the shares of Kaplan and Straus (approximately 14% each on the Stock Exchange). upon initial purchase) at an estimated franchise value of $ 1.3 billion. The purchase of these minority shares by Pera probably gave him a majority stake in the team. Pera owned more than 25% of the franchise at the time of its initial purchase. He was already the main shareholder and the dominant owner before the "buy-sell" resolution.

Kaplan and Straus held 28.44% of the franchise at the time of the initial purchase. With a franchise value exceeding $ 1 billion, Pera would have paid more than $ 350 million under the "buy-sell" resolution, an amount equal to the total purchase price of $ 377 million. when the owner of the time, Michael Heisley, sold the team to Pera and a large group of minority actors in the fall of 2012.

Arrindell and Kushner join a minority contingent including, besides Memphis businessmen such as Cates, JR "Pitt" Hyde, Billy Orgel and Duncan Williams, personalities as remarkable as Justin Timberlake, Ashley Manning, Penny Hardaway and Elliot Perry. and former Congressman Harold Ford Jr.

Joshua Kushner is married to the model and entrepreneur Karlie Kloss, who recently launched the program's revival program "Project Runway" on the Bravo fashion competition.

The organization Grizzlies did not immediately comment on the report.

This story will be updated.