Owners approve sale of Grizzlies

Updated: October 25, 2012, 2:40 PM ET
By Brian Windhorst | ESPN.com

NEW YORK -- NBA owners unanimously approved the sale of the Memphis Grizzlies to California businessman Robert Pera during an NBA Board of Governors meeting Thursday.

Pera, who reached a deal to buy the Grizzlies from Michael Heisley in June, put together an ownership group with local Memphis businesses and athletes with ties to Tennessee, including Peyton Manning and Anfernee "Penny" Hardaway.

The deal will ensure the Grizzlies, whom Heisley moved to Memphis from Vancouver after ...

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