However, despite the strong draft class, general manager Billy Knight was let go.

After the Grizzlies' first season in Memphis, Gasol won the NBA Rookie of the Year Award. They also acquired Jason Williams from the Sacramento Kings in exchange for Mike Bibby that same year. Forward Shane Battier was selected with the sixth pick in the same draft by the Vancouver Grizzlies. In the 2001 NBA draft, the Atlanta Hawks chose Pau Gasol as the third overall pick, trading him to the Grizzlies. In their first three seasons in Memphis, the Grizzlies played their home games at the Pyramid Arena. Memphis became the easternmost city in the Western Conference. The NBA version of the Grizzlies became the first major professional sports team from the 'big four' major leagues to permanently play its home games in Memphis, while leaving the Toronto Raptors as the only Canadian basketball team in the NBA. The original Memphis Grizzlies franchise played in the World Football League from 1974 to 1975. This became the second professional sports team to be named Memphis Grizzlies. The team relocated following the 2000–01 season and were renamed the Memphis Grizzlies. The Vancouver Grizzlies applied to the NBA to relocate to Memphis on March 26, 2001, which was granted on July 3. Main article: Vancouver Grizzlies relocation to Memphis