Justin Timberlake May Buy Minority Stake In Memphis Grizzlies
Author: Mack Rawden
published: 2012-09-07 13:11:38
Justin Timberlake is in talks to become a minority owner of the Memphis Grizzlies. The team is in the midst of being sold to technology magnate Robert Pera. The thirty-four-year-old reportedly thinks bringing the pop star/ actor on board will be good for business, and given how other franchises have fared with similar measures, he’s probably right.
Hip-hop star Jay-Z has a stake in the Brooklyn Nets and Will Smith owns a percentage of the Philadelphia 76ers. Both men offer their clubs a bit of buzz and good publicity, and Timberlake hypothetically would do the same thing. He’s long been an admitted basketball enthusiast, regularly attending games and participating in the NBA’s All-Star Weekend.
Sources told ESPN if Timberlake does board, he would likely be “active”. Obviously, everyone has a different definition of “active”, but at the very least, you would think that means he’ll attend 10 or 15 games, be around the players and stay abreast of the team’s financial decisions.
The overall sale to Pera will reportedly be for around three hundred and fifty million dollars. Once the transaction is completed, he will bring on several partners to limit his exposure. Timberlake won’t be among that group since he’s not expected to buy a huge percentage of the team, but given his involvement really benefits everyone, it seems likely he’ll become an owner soon after. We’ll keep you updated.