McCaw takes over Orcabay
Orca Bay owns the Canucks, the NBA's Vancouver Grizzlies, General Motors Place and interest in Roller Hockey International's Vancouver VooDoo.
Griffiths will stay on with Orca Bay as vice chairman and alternate governor for the Canucks and Grizzlies, McCaw announced.
"Arthur will continue to contribute his community leadership and his knowledge and experience in the sports business to Orca Bay," McCaw said. "I respect the personal business decision he has made in tendering his shares in the company and I look forward to our continuing efforts to build this organization."
Griffiths said he concluded it was in his "best personal interest" to sell his shares to McCaw.
"I feel that this was the best and most appropriate course of action for the teams, the employees, the community and myself and my family," he explained. "In John McCaw, the Canucks and Orca Bay have an owner who has both commitment and passion for the sports and for the city of Vancouver.
"This is a decision that I feel very good about and one that fans, employees, players and the general community should feel good about," Griffiths continued.
McCaw now owns 100 percent of Orca Bay Arena Limited Partnership, 100 percent of Orca Bay Basketball Limited Partnership and 72 percent of Northwest Sports Enterprises Ltd. -- which owns the Canucks -- with the right to acquire an additional 14 percent.
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