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Grizzlies Sold to Pera and an All-Star Cast

By October 29, 2012

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The Memphis Grizzlies might not boast the flashiest roster in the NBA. But the owner's box at  Grizzlies games will feature more celebrities than the red carpet at a Hollywood awards show.

The NBA's board of governors just approved the sale of the franchise to an ownership group led by Robert Pera, the CEO of Internet technology company Ubiquiti Networks. The group also includes singer Justin Timberlake (who just married actress Jessica Beil), NFL quarterback Peyton Manning and ex-NBA star Penny Hardaway.

The celebrity owners all have ties to the area. Hardaway and Timberlake are Memphis natives. The former first achieved basketball stardom with the Memphis Tigers. Manning played college football at the University of Tennessee.

They join a growing list of celebrities with investments in NBA teams. Rapper Jay Z - and his wife Beyonce - have a stake in the Brooklyn Nets. Usher is a minority owner of the Cleveland Cavaliers and Will Smith has invested in the Philadelphia 76ers.

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