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

Oct 4, 2012, 12:51 PM EDT

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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.

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.

  1. whyamiacowboysfanagain - Oct 4, 2012 at 1:00 PM

    Penny Hardaway? Who knew he still has cheddah like that? Must have been all those Lil’ Penny commercials…

  2. philyeagles5 - Oct 4, 2012 at 1:36 PM

    didnt the dolphins try this already

    • tcclark - Oct 5, 2012 at 12:15 AM

      No no, while the Grizzles sold shares to people who know a thing or two about professional sports, the Dolphins sold shares to people like Jennifer Lopez, whose only connection to sports is that her a$$ is still bigger than most offensive lineman

    • tcclark - Oct 5, 2012 at 12:15 AM

      No no, while the Grizzles sold shares to people who know a thing or two about professional sports, the Dolphins sold shares to people like Jennifer Lopez, whose only connection to sports is that her a$$ is still bigger than most offensive linemen

  3. LPad - Oct 4, 2012 at 4:52 PM

    given that both Penny and Peyton played college ball in Tennesse wouldn’t this decrease the likelihood of the team moving. Isn’t Penny from Memphis?

  4. dafmediaproductions - Oct 4, 2012 at 6:15 PM

    That’s pretty cool that Penny is a minority owner of the Grizz! I like seeing former players having the opportunity to make a great investment like this. Not all former athletics are broke! Hopefully more NBA players will strive to manage their money in a way to setup post NBA success. Congrats Penny & Peyton!

  5. BE - Oct 5, 2012 at 5:49 AM

    All of the big name celebrity owners listed have connections to Memphis. Justin Timberlake and Penny Hardaway are from Memphis while Peyton Manning attended UT and married his wife, Ashley, in Memphis. Ashley is also from Memphis and its actually her name that’s on the ownership application.

  6. reeososa - Oct 5, 2012 at 2:33 PM

    Get real and read in the lines. Limited partners. From Usher to JayZ and the list go on and on, NBA teams have limited partners with owners with no involvement or juice.

    Peyton Manning didn’t comment and Penny has hired a PR firm to rebuild his bad reputation since leaving the league. I live in Memphis and Hardaway ain’t no fan of the the city. He did jack while in the NBA. Matter a fact, it’s easy to see how Mike Conley and the players feel about the (maybe) new owners. The other night ALL the players pulled up in their fly cars staying at Westin Hotel across from FEDEX Forum and a person asked them about Hardaway being one of the new owners, the player looked at the ground and said, ” I hope he let us just play ball and don’t whin to us like he did while he was in the NBA”.

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