After Knight's departure and the season, the team hired former Los Angeles Laker and Hall of Famer Jerry West as general manager in 2002, who later received the 2003–04 NBA Executive of the Year Award.
At the time of his resignation, the Grizzlies had a losing record but West hired TNT analyst and former coach Mike Fratello to replace Brown.
While the Grizzlies lost Wells, Williams, Stromile Swift, and James Posey, they acquired Damon Stoudamire, Bobby Jackson, Hakim Warrick, and Eddie Jones.
Following the 2006 NBA draft, Jerry West traded Shane Battier to the Houston Rockets for their first round pick Rudy Gay and Stromile Swift.
With new acquisition Zach Randolph playing at an All-Star level, Marc Gasol's improvement, and a commitment to defense, the Grizzlies were in playoff contention for much of the 2009–10 NBA season, before finishing 10th in the Western Conference with a win–loss record of 40–42.
The Grizzlies found their way back into the post-season for the first time in five years in the 2010–11 NBA season after a 101–96 home victory over the Sacramento Kings on April 8, 2011.
[8] While in the playoff hunt in February 2011, the Grizzlies traded Hasheem Thabeet, DeMarre Carroll, and a protected future first-round pick to the Houston Rockets for Shane Battier, and Ishmael Smith.
[10] The Grizzlies' historic season came to an end after the Oklahoma City Thunder defeated them in game 7 of the Western Conference Semifinals.
[12] The Grizzlies found their way back into the post-season for the second time in six years in the 2011–12 NBA season after a 103–91 home victory over the New Orleans Hornets on April 18, 2012.
On June 11, 2012, Michael Heisley reportedly had an agreement in principle to sell the Memphis Grizzlies to communications technology magnate Robert J. Pera, who at 34 had a spot on Forbes' 2012 list of the 10 youngest billionaires in the world.
On August 23, 2012, Pera reached an agreement with a group of local partners including J.R. "Pitt" Hyde, Staley Cates, Ed Dobbs, Duncan Williams and Billy Orgel.
[16][17] On November 4, 2012, Pera named Jason Levien the chief executive officer and Managing Partner of the Memphis Grizzlies.
[18] On December 13, 2012, ESPN announced that John Hollinger was hired by the Grizzlies as their new Vice President of Basketball Operations.
On January 23, 2013, the Grizzlies acquired Jon Leuer from the Cleveland Cavaliers in exchange for Marreese Speights, Wayne Ellington, Josh Selby, and a future first-round pick.
[19] On January 30, 2013, the Grizzlies traded Rudy Gay and Hamed Haddadi to the Toronto Raptors in a three team deal also involving the Detroit Pistons.
The Grizzlies acquired Tayshaun Prince and Austin Daye from the Pistons and Ed Davis and a future second-round pick from the Raptors.
Memphis then went on to the Western Conference finals for the first time in franchise history when they defeated the Oklahoma City Thunder 4–1 in their semi-finals series.
On October 29, 2014, the Grizzlies defeated the Minnesota Timberwolves 105-101 for the franchise's first victory in a season opener since 2000, the year before the team moved to Memphis.
In the second round, they found themselves facing off against the top seeded Golden State Warriors and MVP Stephen Curry.