Justin Timberlake Joins Bid For Grizzlies

Actor and musician Justin Timberlake has agreed to join Robert Pera's ownership group in his attempt to buy the Grizzlies, a source tells Adrian Sainz of the Associated Press (link via the Star Tribune). ESPN.com's Marc Stein first reported that Pera was recruiting Timberlake, and that the Memphis native intended to make a "meaningful investment" in the franchise.

Since it was first reported that Pera had agreed to buy the Grizzlies from Michael Heisley, Pera's company, Ubiquiti Networks, has seen its stock drop, raising questions about the sale. However, Pera has reportedly recruited a handful of local investors to join his bid for the franchise, and, according to Sainz, "highly strategic national partners" are now on board as well.

The NBA Board of Governors still must approve the sale of the Grizzlies to Pera's group — the vetting process is expected to be completed sometime within the next couple months. If the bid is successful and Timberlake is officially on board, he'll be the latest celebrity to become the minority owner of an NBA franchise. Jay-Z and Will Smith are among the most prominent examples, owning minority stakes in the Nets and 76ers, respectively.

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