Ownership has been the main theme of this summer for the Memphis Grizzlies. The team is close to being sold and won’t be allowed to leave the city of Memphis for the next fifteen years. Then they bring “sexy back” as Justin Timberlake decides to become a part owner of the team. Now in comes the 4 times NFL league MVP and Super Bowl champion Peyton Manning, starting quarterback of the Denver Broncos.
The news was broken by Chris Vernon of ESPN Radio.
Since Peyton Manning isnt’ allowed to have ownership in an NFL team due to rules restricting such, he’s taken his talents from the NFL field to the NBA. Though Peyton is the headliner of this movie, it is said that his wife Ashley Manning is the key pawn in this move.
Joining the Manning’s will also be former Orlando Magic guard Anfernee “Penny” Hardaway. Other big names that are joining the minority group that isn’t known by the mass populous include Autzone founder J.R. “Pitt” Hyde and financier Staley Cates, who were minority owners under previous owner Michael Heisley according to ESPN’s Darren Rovell.
I have to wonder how much recording artist Jay-Z’s effect on the Brooklyn Nets has to do with these top-notch celebrities wanting to have part ownership in a team, though he isn’t the first celebrity to have part-ownership in an NBA team. His impact has been the most noted though.
The sale of the team to Ubiquiti owner Robert Pera is on course to be approved by the NBA Board of Governors in October.