Robert Pera’s bid for Memphis Grizzilies approved

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(Memphis) The National Basketball Association finance committee has unanimously approved Robert Pera’s bid to become majority owner of the Memphis Grizzlies franchise Wednesday.

The NBA’s Board of Governors is expected to give final approval on the bid Thursday.

Pera must now finalize the deal with Grizzlies’ current majority owner Michael Heisley.

Justin Timberlake and Peyton Manning are also part of Pera’s ownership group.