According to E!, Justin and seven other investors have formed an ownership group led by technology entrepreneur Robert Pera. Pera reportedly made a deal with the current owner of the Grizzlies to purchase the team for $350 million.
The NBA is reportedly reviewing the deal and must approve it.
A source said, "Robert reached out to Justin a few weeks ago and they have really hit it off. They are approximately the same age, and working with Justin reflects the type of energy Robert will bring to the table as an NBA owner. Robert Pera is very committed to doing right by Memphis, and Justin's involvement reflects that commitment. Robert is excited to partner with the community."
- Justin was born in Millington, Tennesse, just outside of Memphis and has always been a basketball fan.
- Meanwhile, According to OK!, Justin and Jessica Biel are reportedly planning a $5 million wedding in Italy.