NBA approves sale of Grizzlies to group including Peyton Manning's wife

MEMPHIS, Tenn. (AP) -- The NBA board of governors has approved Michael Heisley's sale of the Memphis Grizzlies to a group headed up by a California technology entrepreneur.

The NBA announced the sale's approval Thursday. The sale still must be finalized, and the Grizzlies said in a statement that is expected soon.

But the Grizzlies say both Heisley and Robert J. Pera will not comment until the sale is finalized because of confidentiality agreements.

Heisley agreed in June to sell the Grizzlies for a reported $350 million to Pera, founder and chief executive officer of Ubiquiti Networks, a communications technology company.

Pera has lined up a group of minority partners including Memphis businessmen, actor and singer Justin Timberlake, former NBA player Penny Hardaway and four-time NFL MVP Peyton Manning's wife, Ashley.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to webmaster@wvlt-tv.com. Please provide detailed information.

powered by Disqus

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Gray Television, Inc. - Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 175826071 - local8now.com/a?a=175826071