Peyton Manning To Become Grizzlies Part Owner
Peyton Manning is set to become part owner of the Memphis Grizzlies.
HoopsVibe Very Quick Call: Another celebrity joins the Memphis ownership group.
Even prior to Peyton's agreement to become a minority owner, the Grizzlies already had Justin Timberlake and former University of Memphis (Then called Memphis State) and NBA stud Anfernee "Penny" Hardaway.
This past June the process to sell the Grizzlies was initiated by Robert Pera for $350 million dollars (Interestingly, no matter how well revered or how popular the NBA is, the Cleveland Browns were recently sold for one billion dollars). Pera has agreed to terms with at least five other local partners to purchase the franchise, including AutoZone founder J.R. "Pitt" Hyde among the investors.
Involving celebrities with local ties goes a long way towards keeping the team in Memphis for the long haul, which was actually one of the stipulations when long-time owner Michael Heisley decided to enter into the sale with Pera. The more local celebrities, the better in that regard.
Manning is best known for his success as the University of Tennesse's starting quarterback, just up the road about 400 miles from Memphis. Manning's wife is from Memphis and his wedding actually took place there as well.
An interesting sidebar is that prior to signing with the Denver Broncos as a free agent this offseason was the Tennesse Titans push to get him to be their QB for the forseeable future. Owner Bud Adams even offered Manning a lifetime contract to work for the team, even after his playing days.
So he may not be a Titan, but he will be in Tennesse for a long time to come. The real question is though, can a new ownership group get the franchise over the championship hump, finally? Known for futility since the franchise was created in Vancouver, Canada the current squad could be as close as ever from a talent standpoint. .
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