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Peyton Manning's wife Ashley, others buy Memphis Grizzlies

11:26 AM, Oct 25, 2012   |    comments
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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.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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