Owners approve sale of Grizzlies
NEW YORK -- NBA owners unanimously approved the sale of the Memphis Grizzlies to California businessman Robert Pera during a Board of Governor's meeting Thursday.
Pera, who reached a deal to buy the Grizzlies from Michael Heisley in June, put together an ownership group with local Memphis business and athletes with ties to Tennessee, including Peyton Manning and Anfernee "Penny" Hardaway.
The deal will ensure the Grizzlies, who Heisley moved to Memphis from Vancouver after he bought the team 12 years ago, will remain in Memphis. The Grizzlies have a lease at the FedEx Forum through 2021.