Justin Timberlake to Be Co-Owner of Memphis Grizzlies

Former N’Sync band member and pop singer Justin Timberlake sure knows how to invest and bring money full circle. Justin Timberlake bought into Facebook and is now looking to expand ihis networth to including a piece of the NBA.

These rumors first came into the forefront from a story by ESPN’s Marc Stein:

Sources with knowledge of the arrangement said Thursday that Timberlake, one of the NBA’s most prominent celebrity fans and a Memphis native, has committed to joining Pera’s team of minority partners as the sale of the franchise from Michael Heisley to the 34-year-old technology magnate nears completion.

Sources told ESPN.com that Timberlake and Pera have quickly struck up a friendship, with one source adding that the singer/actor is making “a meaningful investment into the team” and “plans to be active” with the Grizzlies. The league office, sources said, has been made aware of Timberlake’s proposed involvement and is already well acquainted with him after inviting the self-proclaimed basketball junkie to participate in various celebrity games at All-Star Weekend

If this deal goes through, Justin will be the second musician to have share in an NBA franchise preceding rapper and hip hop mogul JayZ who is co-owner of the Brooklyn Nets.