The press release issued by team owner Robert Pera was terse and light on details:
The Memphis Grizzlies announced today that following discussions with management, the decision was made for Jason Levien and Stu Lash to depart the organization.
"Our franchise has made tremendous strides over the last few seasons and we thank Jason for his hard work and dedication and wish him nothing but success in his future endeavors," said Grizzlies Controlling Owner Robert Pera. "Rest assured that we remain as committed as ever to bringing a championship to this great city and we are confident that when the new season begins our fans will be excited about both our roster and the direction of our organization."
Going forward, existing Grizzlies General Manager Chris Wallace will assume interim responsibility for the franchise's basketball operations and Chief Operating Officer Jason Wexler will remain responsible for the franchise's business operations.
The Flyer's Kevin Lipe will have more on the situation as it develops.