Ron Chenoy-US PRESSWIRE - Presswire
Broncos quarterback and Tennessee alum Peyton Manning has reportedly agreed to become part owner of the Memphis Grizzlies, joining Justin Timberlake and Penny Hardaway in Robert Pera's ownership group
The prospective owner of the Memphis Grizzlies, Robert Pera, appears have found a high profile partner in owning the team. Broncos quarterback and University of Tennessee alum Peyton Manning has reportedly agreed in principle to become part-owner of the team, according to a tweet from Memphis radio host Chris Vernon. Manning would join Memphis natives Justin Timberlake and Penny Hardaway as part owners of the team, along with Pera.
Pera has been looking for local investors to get involved with keeping the team in Memphis, and bringing in Manning, along with Timberlake and Hardaway, gives the team greater visibility and cachet, both in the community and nationally. An example of this is Jay-Z becoming involved as a part owner of the Brooklyn Nets.
Along with bringing in local investors into ownership, Pera has agreed to provisions that would make relocating the team extremely cost prohibitive and difficult. It seems like the Grizzlies are going to be staying in Memphis for a while.