Owning an NBA team is far less punishing. (Jack Dempsey / AP)

Peyton Manning, basketball mogul?

Sure, why not? The Denver Broncos quarterback has a lot of money, he has to do something with it and he seems to like sports. Now he has agreed to become a limited partner in a bid to buy the Memphis Grizzlies, the Memphis Commercial Appeal reports. Penny Hardaway (a former star at the University of Memphis) and Justin Timberlake (who is from Memphis) are among other members of a prospective ownership group assembled by Ubiquiti Networks founder Robert Pera. The news was first reported by “The Chris Vernon Show” on WMFS-FM.

Manning, who’s originally from New Orleans, has significant ties to Tennessee, although he opted not to play for the Titans when he was mulling his next stop after being cut by the Indianapolis Colts. He went to college in Knoxville and his wife, Ashley, is from Memphis. The ownership stake, ESPN reported, is in the name of Ashley Manning.

ESPN.com’s Marc Stein reports that the transfer of ownership to Pera and his partners remains on course to be approved later this month.

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