You’ve probably seen Robert Pera sitting courtside, looking more like a tech intern than one of the wealthiest men in professional sports. He’s usually in a plain t-shirt or a hoodie, blending into the Memphis crowd while his team, led by stars like Ja Morant, puts on a show. But who are the owners of the Memphis Grizzlies beyond the face of the franchise? It’s not just a one-man show, although Pera certainly holds the keys.
The story of how this group came together is actually a bit of a wild ride. It involves a "buy-sell" showdown, a pop superstar from the 901, and some of the biggest names in NFL history.
The Man at the Top: Robert Pera Explained
Robert Pera is the big boss. Basically, he’s the Chairman and Controlling Owner. He bought the team back in 2012 from Michael Heisley for about $377 million. At the time, people were skeptical. Pera was only 34, a former Apple engineer who had struck gold with his company, Ubiquiti Networks. He was one of the youngest billionaires on the planet, and nobody really knew if he was serious about Memphis or just looking for a shiny new toy.
Turns out, he was serious.
By 2026, Pera’s net worth has exploded. Thanks to the massive success of Ubiquiti and some savvy tech investments, he’s consistently ranked among the top ten richest owners in the NBA. This financial muscle is a huge deal for a "small market" team. It means the Grizzlies can afford to pay the luxury tax to keep guys like Jaren Jackson Jr. and Desmond Bane around without blinking.
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But it wasn't always smooth sailing. Around 2018, there was this weird tension where two minority owners, Steve Kaplan and Daniel Straus, tried to force Pera’s hand. They triggered a "buy-sell" clause in the contract. Essentially, they told Pera: "Buy us out at this high valuation, or we get to buy you out." Pera didn't flinch. He reached into his very deep pockets, bought them out, and solidified his 100% control over the direction of the franchise.
The Star-Studded Minority Group
While Pera owns the lion's share, the Grizzlies have one of the most interesting "cool factor" ownership groups in the league. Honestly, it’s a "who's who" of Memphis culture and sports royalty.
Justin Timberlake is the name everyone knows. The Memphis native joined the group early on. It wasn't just a vanity project; JT has been a vocal supporter of the "Grit and Grind" culture for years. He’s often seen at the FedExForum when he’s not on tour, and his presence helped bridge the gap between the new Silicon Valley ownership and the local Memphis community.
Then you’ve got Peyton Manning—well, technically, the stake is often cited as being held through his wife, Ashley Manning, who is a Memphis native. Having an NFL legend in the fold adds a level of prestige that few teams can match.
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And don't forget Penny Hardaway. Before he was coaching the Memphis Tigers, he was a local hero who put his money back into the city’s pro team. His involvement ensures that the team’s connection to the city’s deep basketball roots stays intact.
Other Key Players in the Ownership Mix
The group is actually quite large, including several local business leaders who wanted to make sure the team stayed in Memphis. Here are some of the other significant names involved in Memphis Basketball, LLC:
- J.R. "Pitt" Hyde: The founder of AutoZone. He's a legendary figure in Memphis business.
- Staley Cates: A big-time investor who has been a pillar of the Memphis community for decades.
- Joshua Kushner: Founder of Thrive Capital (and brother to Jared Kushner, though Joshua is known for his own massive tech investments).
- Brandon Arrindell: A principal at Southeastern Asset Management who brought a more analytical business approach to the group.
- Billy Orgel: A local developer who has been instrumental in Memphis real estate.
Why the Ownership Structure Matters for Fans
Usually, fans don't care about who signs the checks until the checks stop being signed. In Memphis, the ownership structure is the only reason the team is still there. When Pera took over, he signed a deal that essentially locked the team into the FedExForum through the late 2020s with massive penalties if they ever tried to leave.
Because Pera is so wealthy—we're talking $25 billion to $30 billion range depending on the market—the Grizzlies aren't "poor" anymore. In the past, Memphis had to let players walk because they couldn't afford the bill. Now, they are aggressive. They are a destination.
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The mix of local "old money" like Pitt Hyde and "new tech money" like Pera and Kushner creates a stable environment. It’s a weird balance, but it works. You have the local guys keeping the team's soul in the Bluff City, while Pera provides the massive capital needed to compete with the Lakers and Warriors of the world.
What's Next for the Grizzlies Group?
Expect the status quo to remain, which is actually great news for fans. Robert Pera has shown zero interest in selling. In fact, he’s doubled down. As the NBA prepares for a new media rights deal that could skyrocket team valuations toward the $5 billion mark, Pera is sitting on a gold mine.
The next big hurdle is the renovation of the FedExForum. The ownership group is currently working with the city and the state to ensure the arena stays top-tier. This is the final piece of the puzzle to keep the Grizzlies in Memphis for the next thirty years.
If you’re a fan, you should be looking at the 2026-2027 season as a benchmark. With the current ownership’s willingness to spend, the Grizzlies are no longer just a "scrappy underdog." They are a powerhouse backed by one of the deepest wallets in sports.
Actionable Insights for Grizzlies Fans:
- Monitor Arena Negotiations: The lease and arena upgrades are the biggest indicators of long-term stability. Watch for news regarding the FedExForum renovations.
- Watch the Luxury Tax: If Pera continues to pay the tax, it’s a signal that the team is in "all-in" mode for a championship.
- Follow Ubiquiti (UI): Since most of Pera's wealth is tied to his tech company, the health of his business directly impacts the Grizzlies' spending power.