Peyton Manning and Penny Hardaway are Memphis Grizzlies Co-Owners

Penny Hardaway and Peyton Manning are set to become business partners, as they have agreed to co-own small pieces of the Memphis Grizzlies franchise. Reports the Commercial Appeal: “Denver Broncos quarterback Peyton Manning and his wife Ashley, a former Memphian, and Memphis basketball legend Penny Hardaway have agreed to become limited partners in Robert Pera’s bid to buy the Grizzlies, a source close to Pera said Thursday. Pera, whose purchase of the team from Michael Heisley is being vetted by the NBA, has assembled a group with both star power and local ties, including recent additions such as pop star and actor Justin Timberlake and former congressman Harold Ford Jr. The group also includes AutoZone founder J.R. ‘Pitt’ Hyde and financier Staley Cates, who were limited partners under Heisley. Edward Dobbs, Duncan Williams and Billy Orgel also have agreed to be local partners.”