Carolina Panthers Franchise Could Sell By May
The Carolina Panthers are worth how much?
According to a Bloomberg report, potential ownership groups interested in purchasing the football franchise are looking at a price tag north of $2.5 billion. If the club does sell for that price, it would set a record for the most expensive professional sports team in U.S. history. The NBA’s Houston Rockets sold for $2.2 billion last year.
Initially, it looked liked four prospective ownership groups would make bids. But, one group led by Fanatics owner Michael Rubin (along with rapper Sean “Diddy” Combs and Golden State Warrior Steph Curry) has apparently backed away from the idea.
So, who are the favorites to take over control of the Panthers?
55-year-old Alan Kestenbaum, CEO of Bedrock Industries (a metal mining company).
54-year-old Ben Navarro, CEO of Sherman Financial Group (a global investment company).
60-year-old David Tepper, Founder of Appaloosa Management (a hedge fund).
Longtime Panthers’ owner Jerry Richardson, 81, is selling the team after allegations of sexual workplace misconduct. After Richardson chooses the winning bid, three-fourths of the 32 NFL owners must approve the sale.
According to ESPN, that sale could be made official at the NFL owners meeting in Atlanta in late May.