The person says Pera "has assembled a strong ownership group that includes Justin Timberlake, other community leaders from Memphis, and highly strategic national partners." The person spoke to The Associated Press Friday on condition of anonymity because the NBA has yet to approve the final purchase of the team.
Pera agreed in June to buy the Grizzlies from Michael Heisley for reportedly about $350 million. Pera is founder of Ubiquiti Networks Inc., a communications technology company based in San Jose, Calif.
The 31-year-old Timberlake grew up near Millington, a suburb of Memphis.