A very popular NFL quarterback for the Denver Broncos is stashing his millions in the safe investment of a professional sports franchise. You guessed it, Peyton Manning is now part owner of an NBA team.
According to Chris Vernon of ESPN Radio 92.5 in Memphis, Manning has agreed to become part owner of the Memphis Grizzlies along with ex-NBA star Penny Hardaway and pop star Justin Timberlake.
Who knew Manning did anything other than play football, star in commercials, watch game film and host Saturday Night Live?
ESPN recently aired a special titled Broke about professional athletes that made millions who are now broke, and it's no surprise Manning has found a safe and secure long-term investment for his money.
Investing in a professional sports team is usually a good long-term investment with returns well above what you can get in the stock market. Manning has made some ungodly amounts of money in his career, so it makes sense he would try to find a place to stash large amounts of cash.
When Tennessee Titans owner Bud Adams offered Manning a contract for life last offseason, many believed that included some type of ownership stake in the franchise. Perhaps Manning had his financial advisers look into those types of investments and it sparked an interest?
Other AFC West news:
Jerry McDonald of the Contra Costa Times reports that many of the Raiders players will not be taking a vacation in the bye week.
Randy Covitz of The Kansas City Star notes that Sunday's game features the top two players in yards from scrimmage, Jamaal Charles and Ray Rice.
Scott Bair of the North County Times says that wide receiver Robert Meachem hopes for a breakout game against his former team.
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