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Thread: Peyton Manning part owner of the Memphis Grizzlies

  1. #1

    Default Peyton Manning part owner of the Memphis Grizzlies

    Not really sure which board to put it under but since this is about an NBA team I figured this one



    http://espn.go.com/nba/story/_/id/84...zzlies-sources

    Peyton Manning part-owner in NBA



    Denver Broncos quarterback Peyton Manning isn't allowed to own a piece of a football team per NFL rules, but that doesn't mean he can't own a piece of another team in another sport.

    Sources have confirmed to ESPN.com that Manning is part of the proposed ownership group led by Robert Pera, who agreed to buy the Memphis Grizzlies from Michael Heisley for about $350 million this summer.

    The news of the involvement of Manning, who played collegiately at the University of Tennessee, was first reported by Chris Vernon of ESPN Radio Memphis. The ownership stake is actually in the name of Manning's wife, Ashley, but one source confirmed that Peyton Manning is involved. The Mannings' stake in the team and how much they paid for it is not yet known.

    Through last week, Manning has earned more than $178 million on the field and tens of millions of dollars more off it as the most popular endorser in the NFL.

    Since Pera agreed to the deal, shares of his company Ubiquiti Networks has been hard hit. On a single day in August, Pera lost $365 million on paper when the company's stock plummeted. Shares since have rebounded modestly.

    In recent months, Pera has added local partners, including AutoZone founder J.R. "Pitt" Hyde and financier Staley Cates, who were minority owners under Heisley. In September, Pera scored pop star and actor Justin Timberlake on the ownership roster. Sources also confirmed Thursday that former NBA player Penny Hardaway -- who grew up in Memphis and played at Memphis State -- has joined the group.

    A source with knowledge of the sale told ESPN.com's Marc Stein that the transfer of ownership from Heisley to Pera and his high-profile partners remains on course to be approved by the start of the regular season later this month. The NBA Board of Governors is scheduled to have its meeting Oct. 24-25 in New York City.

  2. #2

    Default Re: Peyton Manning part owner of the Memphis Grizzlies

    The poster "pacertom" since this forum began (and before!). I changed my name here to "Slick Pinkham" in honor of the imaginary player That Bobby "Slick" Leonard picked late in the 1971 ABA draft (true story!)

  3. #3

    Default Re: Peyton Manning part owner of the Memphis Grizzlies

    Legally its under her name but I'm sure he'll also play a role at least in name after all more people know of him than her but she'll be the one making the decisions.
    Last edited by Basketball Fan; 10-04-2012 at 09:08 PM.

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    Default Re: Peyton Manning part owner of the Memphis Grizzlies

    Quote Originally Posted by Basketball Fan View Post
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    Legally its under her name but I'm sure he'll also play a role at least in name after all more people know of him than her but she'll be the one making the decisions.
    And I am pretty sure it wasn't her who made a **** ton of money.

  5. #5

    Default Re: Peyton Manning part owner of the Memphis Grizzlies

    Owning a stake of the Grizzlies (or Pacers) seems like a pretty crappy investment.

  6. #6

    Default Re: Peyton Manning part owner of the Memphis Grizzlies

    Quote Originally Posted by Heisenberg View Post
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    Owning a stake of the Grizzlies (or Pacers) seems like a pretty crappy investment.
    Just owning a stake in a team is probably a crappy investment, but owning that stake along with real estate in the area is a pretty good investment. I'm assuming this is part of Manning preparing his post-football career.

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    Default Re: Peyton Manning part owner of the Memphis Grizzlies

    That seems like a lot of money to be able to hang out with Justin Timberlake.
    "Your course, your path, is not going to be like mine," West says. "Everybody is not called to be a multimillionaire. Everybody's not called to be the president. Whatever your best work is, you do it. Do it well. You cease your own greatness when you aspire to be someone else."

  9. #8

    Default Re: Peyton Manning part owner of the Memphis Grizzlies

    Quote Originally Posted by Eleazar View Post
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    And I am pretty sure it wasn't her who made a **** ton of money.
    Probably not but she's a real estate developer so I'm sure she has something there stashed away besides it seems to me her interest rather than his I mean I really can't picture Manning caring about owning an NBA team or hanging out with Justin Timberlake like he couldn't do that with another commercial.

    Ashley is from Memphis and wants the team there so I get her interest. Peyton just helps her with his name and influence

    And yes $$$

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