NBA Approves Memphis Grizzlies Sale To Pera, Justin Timberlake, Penny Hardaway, Peyton Manning, Others
The NBA Board of Governors have unanimously approved the sale of the Memphis Grizzlies to the group of investors led up by Robert Pera.
NBA Commissioner David Stern says he's "delighted" that Pera has "assembled an ownership group with very strong local ties."
The group of investors definitely have local ties as they include former NBA star Anfrenee Penny Hardaway and famed singer-songwriter and businessman Justin Timberlake, as reported on MemphisRap.com.
Others investors in on the deal include Broncos quarterback Peyton Manning and his wife, Ashley Manning, a native of Memphis, Autozone founder J.R. "Pitt" Hyde, fund manager Staley Cates, former Congressman Harold Ford Jr.and financier Stephen Kaplan.
The only part left now after the NBA approval is for current owner Michael Heisley and his lawyers to formalize the transfer of ownership of the Grizzlies to Pera and his investor group.
Meanwhile, the Memphis Grizzlies beat out the Orlando Magic in a preseason game at The FedExForum Wednesday night (Oct. 24) in a 115-100 victory.
Next the Grizzlies take on the Los Angeles Clippers on October 31 with the next home game at the FedExForum being against the Utah Jazz on Monday, November 5.