Levien will join Robert Pera's ownership group and take over basketball operations in Memphis. He will oversee general manager Chris Wallace and head coach Lionel Hollins and have the final say on personnel and on-court matters. Hollins is in the final year of his contract, and with a new ownership group in place, the addition of Levien could signal more changes in Memphis if the Grizzlies struggle this season.
In addition to his time as a shareholder with the 76ers, Levien has been an NBA agent and a part of the Sacramento Kings' front office.
The Grizzlies are coming off back-to-back playoff appearances. Memphis was 41-25 in the lockout-shortened 2011-12 season, compiling a franchise-best .621 win percentage. The Grizzlies are 1-1 this year.