Skip navigation
Favorites
Sign up to follow your favorites on all your devices.
Sign up

Report: Peyton Manning, Penny Hardaway to be Grizzlies minority owners

Oakland Raiders v Denver Broncos

DENVER, CO - SEPTEMBER 30: Quarterback Peyton Manning #18 of the Denver Broncos throws a pass against the Oakland Raiders at Sports Authority Field Field at Mile High on September 30, 2012 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)

Getty Images

Robert Pera — the young tech billionaire in the process of buying the Memphis Grzzlies — continues to put together his ownership group and continues to bring in big names.

Like Peyton Manning. And Penny Hardaway.

They are both in, reports well connected Memphis radio personality Chris Vernon.

SCOOP:Peyton Manning has agreed in principle to become part-owner of the Memphis Grizzlies.

— Chris Vernon (@ChrisVernonShow) October 4, 2012


SCOOP 2:Also involved in the local ownership… Penny Hardaway.they now have Justin Timberlake, Peyton Manning, and Penny Hardaway.Wow.

— Chris Vernon (@ChrisVernonShow) October 4, 2012


That is an impressive celebrity group Pera has put together. He also has a number of local Memphis businessmen who will buy in for a share.

Pera is still going through the league’s vetting process and his purchase (for reportedly $350 million) from Michael Heisley has yet to be approved. There have been questions about Pera’s net worth as the international wireless company he founded, Ubiquiti Networks, faces some challenges. But those have reportedly not slowed the sale down. It’s just a complex process with a number of minority owners who also have to be vetted.

Big name minority owners. Ones whose arm strength may not be what it once was, but who are pretty good hosts of Saturday Night Live. Timberlake in particular.

Every time this happens it leads to concerns Pera may try to move the team, but know that the Grizzlies have about as iron clad a lease as you can have and they are locked in FedEx Forum until 2021 at least.