Originally posted on Fox Sports Tennessee  |  Last updated 10/31/12
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.
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