Denver Broncos quarterback Peyton Manning clarified a report on Thursday that he had purchased a stake in the NBA's Memphis Grizzlies.

Actually, Manning said, it is his wife Ashley who purchased part of the franchise, and Peyton complimented her on the decision.

"I am proud of Ashley as she pursues this opportunity with the Memphis Grizzlies," Peyton Manning said in a statement picked up by the Denver Post.

"While my focus is on playing quarterback for the Denver Broncos, I look forward to watching her become involved with her hometown team."

Ashley Manning is a Memphis native and is part of the new ownership group along with other prominent Memphians - Penny Hardaway and Justin Timberlake.

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Terry McCormick covers the Titans for TitanInsider.com