Peyton Manning newest addition to the ownership group for Memphis Grizzlies – NBA News
The Memphis Grizzlies new ownership group that is being led by Robert Pera just added another celebrity in their bid to purchase the basketball franchise from current owner Michael Heisley. And that new addition is none other than the Denver Broncos quarterback, Peyton Manning. Sources have told ESPN.com that Manning is part of the ownership group that is expected to take over the basketball franchise, after Pera agreed to terms with Heisley for $350 million a few months ago.
Although the ownership stake is in Manning’s wife, who is a Memphis native, sources have confirmed that Manning himself is associated with the group.
"While my focus is on playing quarterback for the Denver Broncos, I look forward to watching her become involved with her hometown team,” said Peyton Manning.
Manning has earned more than $178 million in salary over the course of his NFL career, and many more millions in endorsement deals. Hence, he qualifies very easily to be a part of the group. Pera, who is the founder of Ubiquiti Networks, recently added singer and songwriter Justin Timberlake to the ownership group as well, and has also added AutoZone founder J.R. “Pitt” Hyde and Staley Cates, who were minority owners with Heisley’s group as well. There are also rumours that former NBA star Penny Hardaway, who grew in Memphis and played at Memphis State University, is going to be part of the new ownership group as well.
The transfer of ownership for the franchise is yet to be approved by the NBA, although sources have told that they do not expect any road bump along the way and the deal will most likely be finalized and endorsed by the NBA before the start of the upcoming season. The NBA Board of Governors are scheduled to meet on October 24th and 25th in New York City.
Grizzlies guard Mike Conley said on Tuesday that it does not matter to the team who the owner is, they have to go out on the court and still perform on a nightly basis. However, he did concede that he had heard good things about Pera.
"We've heard a lot of good things about him, and his intentions are all good. I know the city of Memphis should be excited. As a team, we are excited. It's going to be a different expectation for us, and we're just looking forward to taking it on,” said Conley.
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