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For Sale

Mr. Scot

By Mr. Scot,
in Carolina Panthers

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Mr. Scot Grand Master

Mr. Scot

Posted
Posted

The Carolina Panthers are now officially for sale.

Pertinent information:

- Although Jerry Richardson technically only owns 48% of the Panthers, the entire team is for sale

- The actual legal sale itself will be handled through two law firms

- The price is expected to be over one billion dollars, could easily exceed two and has been speculated by some to possibly approach three

- Forbes has estimated that the final price will likely fall somewhere between 2.3 and 2.8 billion

- CBS Insider Jason LaCanfora believes a figure of 2.5 billion is "exaggerated" and that the team will sell for less

- Ownership groups can consist of as many as 24 people, but at least one person must own a 30% stake

- To even put in a bid on the team, you have to have the cash available immediately (no financing, no layaways)

- Potential bidders whose available cash reserves would be depleted or emptied by their bid will be rejected

- Jerry Richardson's original plan was for the team to be sold within two years after his death, with provisions to keep the team from moving

- The team's current lease with the city and Bank of America Stadium expires in June 2019, which has some worried about potential relocation

- The city of Charlotte and North Carolina governor Roy Cooper have said they'll do whatever it takes to keep the team in Charlotte

- The NFL has also expressed they feel it would be undesirable for the Panthers to move, though there is talk of a new stadium being wanted soon

- Jerry Richardson will choose the winning bidder, though the NFL must approve the sale

- League approval would likely happen at the owner's meetings scheduled to take place from March 25th to the 28th and May 21st to the 23rd

- Despite his volunteering to sell the team, Jerry Richardson is still subject to an NFL investigation of alleged workplace misconduct

- The investigation is to be conducted by an independent law firm to avoid suspicion of a cover up

- Marty Hurney's contract as an interim GM runs through June so he will run the coming draft and free agency

- Ron Rivera's contract would have ended after next season but has been extended by two years

- Estimates for a timetable on the completion of the sale vary anywhere from next offseason to before this year's Training Camp

__________________________________________________________________________________________________

That's a lot of what we know.  Still a lot more that we don't know at this point.

The only serious name we know so far is Felix Sabates, who has stated he would not be the majority owner but hasn't identified who would.  Sabates group is somewhere from five to seven depending on reports. Former Panther Muhsin Muhammad and NBA star Steph Curry are among those named as being part of Sabates bid. It's been said that his group also includes a couple of current minority owners, but no names have been named.

There was a report that NASCAR's Brian France was interested, but both NASCAR and France himself shot that down and nothing else has been mentioned since.  Eddie DeBartolo had at one point expressed interest but nothing official has been reported on that front yet.  Of course, there was also word from Diddy, but that's generally believed to be a publicity stunt.  Steph Curry, who previously said he'd sign on with Diddy, is of course now part of the Sabates group.

Lots more to come on this story, and it's gonna take a while.

Get ready for a long, bumpy ride.

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Dilla Collaborator

Dilla

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Posted
55 minutes ago, Mr. Scot said:

The only serious name we know so far is Felix Sabates, who has stated he would not be the majority owner but hasn't identified who would.  Sabates group is somewhere from five to seven depending on reports. Former Panther Muhsin Muhammad and NBA star Steph Curry are among those named as being part of Sabates bid.

Eddie DeBartolo has also stated his intention to bid, if you recall.

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Mr. Scot Grand Master

Mr. Scot

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34 minutes ago, thomas96 said:

Did the report of Eddie DeBartolo being a player have any truth to it?

 

16 minutes ago, Dilla said:

Eddie DeBartolo has also stated his intention to bid, if you recall.

DeBartolo stated that he was interested.  Haven't heard jack from him since. His name could emerge again, but we'll see.

Added a little more info to the OP.

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Mr. Scot Grand Master

Mr. Scot

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Latest articles regarding the impending sale...

Charlotte Observer: The Panthers can now go up for sale, here's what happens next

ESPN: With season over, the Panthers are officially up for sale

Pro Football Talk: Panthers are now for sale

CBS Sports: Panthers sale should be done before the 2018 season

WCCB: Who will buy the Carolina Panthers

WBTV: Carolina Panthers officially up for sale after loss to Saints

WSOC: Panthers sale, after playoff loss, what's next?

 

 

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Mr. Scot Grand Master

Mr. Scot

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One final note for tonight: Jerry Richardson met with players in the locker room after the game for "an emotional goodbye".

If you're tempted to blame Cam, Luke and any of the other players for talking positively about Richardson in the face of everything that's happened, you probably shouldn't.  They wouldn't have been in a position to see any of the alleged events.

Regardless, the Richardson era of Panthers ownership will end without a Super Bowl victory.  Two appearances, but no trophy.

 

 

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pantherclaw Grand Master

pantherclaw

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3 hours ago, Mr. Scot said:

One final note for tonight: Jerry Richardson met with players in the locker room after the game for "an emotional goodbye".

If you're tempted to blame Cam, Luke and any of the other players for talking positively about Richardson in the face of everything that's happened, you probably shouldn't.  They wouldn't have been in a position to see any of the alleged events.

Regardless, the Richardson era of Panthers ownership will end without a Super Bowl victory.  Two appearances, but no trophy.

 

 

Heartbreaking. Seriously.

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