Posted Oct 31, 2012 4:31 PM
MEMPHIS, Tenn. (AP) -- The chairman of the new Grizzlies' ownership group says the NBA team is here to stay in Memphis.
The Grizzlies announced Wednesday that the reportedly $377 million sale by Michael Heisley had been finalized to a group led by Robert J. Pera, a former Apple engineer who founded the communications technology company Ubiquiti Networks.
The group includes local businessmen, entertainer Justin Timberlake, Memphis native and former NBA player Penny Hardaway, a former U.S. congressman and Ashley Manning, wife of four-time NFL MVP Peyton Manning.
Pera said in a statement they are thrilled to take over the Grizzlies and see enormous potential in how the Grizzlies bring Memphians together. He says they are committed to building a winning team.
The Grizzlies open the season Wednesday night at the Los Angeles Clippers.
|Highlight of the Night|
Tony Parker makes a sweet dish to Tiago Splitter for the two-handed jam.
|Spurs-Grizzlies: Game 3 Preview|
Chauncey Billups, Steve Smith and Greg Anthony look ahead to Game 3 in Memphis Saturday at 9p ET on ESPN.
|Grizzlies vs. Spurs: Game 2|
Tony Parker scores 15 points, dishes out a career playoff-high 18 assists and the Spurs beat the Grizzlies in overtime 93-89.
|The Daily Zap|
The Grizzlies try to rally late, forcing overtime but the Spurs hold on to win Game 2.
|Tuesday's Top 5 |
Check out the top 5 plays from Game 2 of the Western Conference Finals.