After he bought the Memphis Grizzlies from Michael Heisley in June for $350 million, Robert Pera has been actively looking for partners to join him and assume a minority stake in the team. First, it was Justin Timberlake who attached his name to the minority ownership group of the Grizzlies. Then, word came out that Penny Hardaway has also reportedly joined the group. Now, add Peyton Manning and his wife Ashley to that ever-growing list.
Even though the Mannings' names are not expected to be on any of the paperwork, both parties released separate statements on their new ownership opportunity. “While my focus is on playing quarterback for the Denver Broncos, I look forward to watching her become involved with her hometown team,” Peyton said. Meanwhile, Ashley commented that “as a native of Memphis, it was important to me that the Grizzlies remain in Tennessee and continue to have a positive impact on the community."
The NBA is expected to finalize everything and approve the sale sometime this month.
RELATED: A History of Sports Owners Relocating Their Teams
[via The Washington Post]