Peyton Manning is said to be in negotiations with the ownership of the National Basketball Association's (NBA) Memphis Grizzlies in an effort to become part owner of the franchise.
USA Today claims that Manning along with his wife, Ashley Manning and former NBA player Penny Hardaway the group have partnered up with a small consortium aiming to strike a deal for the NBA team.
The Associated Press was told that the trio would enter into a minority group that includes singer and actor Justin Timberlake and a few other business men.
The Memphis outfit is currently owned by Michael Heisley who in June 11, 2012 had an offer a $350 million bid tabled to him from tech company businessman Robert J. Pera to buy the team. An agreement had been reached by the parties involved and just needs league approval to go through.
It has been reported also that since the bid Pera has been lobbying for potential business associates to join him for this new venture. Already having added AutoZone founder J.R Hyde to his team.
Manning's interests in the Grizzles stems from the New Orleans native time spent in Tennessee. Where he played for the NCAA's University of Tennessee, from 1994 to 1997, picking up multiple MVP awards and honors like the Davey O'Brien Award before being drafted in 1998 to the Indianapolis Colts.
If successful, Manning will join the list of athletes becoming shareholders in other sports teams. In 2011, Miami Heat's LeBron James became a minority stakeholder in English Premier League side, Liverpool F.C. James was part of a team to buy the club headed up by Fenway Sports Group who currently owns MLB's Boston Red Sox.
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