Ownership options so far

[Mr. Scot]

A little procedural info from Rick Rothaker in The Observer...
 

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The New York banking and legal team helping to sell the Carolina Panthers once this season ends have put their stamp on some of the biggest deals in sports.

Steve Greenberg of New York investment bank Allen & Co. has worked with the St. Louis Cardinals, Buffalo Sabres, Los Angeles Clippers, Washington Capitals and Washington Wizards in recent years, according to the Sports Business Journal. And his firm is known for an annual gathering in Sun Valley, Idaho, that draws the biggest names in business and politics.

Joe Leccese, chairman of New York law firm Proskauer Rose LLP, advised the NBA during the sale of the Los Angeles Clippers to former Microsoft CEO Steve Ballmer and assisted on other deals involving teams from the Houston Astros to the Philadelphia Eagles, according to his firm’s web site.

Both figures, who the Panthers said Tuesday will be working with Charlotte lawyer Billy Moore on the sale, regularly top the list of “Power Players” ranked by the Sports Business Journal.

 

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While Allen & Co. might not be the biggest name in banking, the boutique firm does have the right kind of connections to sell a franchise currently valued at $2.3 billion by Forbes magazine, said Ray Groth, a managing director at Charlotte-based private equity firm Axum Capital Partners and former head of mergers and acquisitions for First Union Securities.

“The targeted buyer base isn’t really corporate America,” Groth said. “It’s individual America. Allen & Co. probably has as good a feel as to who those people are as anybody else.”

In 2014, both Allen & Co. and Proskauer Rose played a role in the Buffalo Bills’ sale to Terry and Kim Pegula, the husband-and-wife owners of the Buffalo Sabres hockey team, for an NFL-record $1.4 billion. The deal came a little more than five months after the death of the previous owner, Ralph Wilson Jr.

According to Bloomberg News, Allen & Co. recently handled the sale of the NBA’s Brooklyn Nets, with 49 percent going to Alibaba Group Holding executive Joe Tsai. The value put on the franchise was a league-record $2.3 billion. Tsai has a right to buy the remaining stake in 2021.

Bloomberg also reported that the firm has worked with the Carolina Hurricanes hockey team in Raleigh, which recently sold a majority stake to a Texas businessman.

 

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Some Charlotte bankers said the Allen & Co. hire was a good move because the firm likely has fewer conflicts of interest with potential buyers than larger banks, which could still become involved in financing any deals. One of the team’s former minority owners, the late Donald Keough, also was a former Allen & Co. chairman.

But others questioned why the Panthers did not hire the well-respected sports investment banking team at Bank of America, which has had a long relationship with owner Jerry Richardson and played a key role in the financing of the team’s home field, known as Bank of America stadium since 2004.

The Panthers have not commented beyond Tuesday’s statement. Greenberg, the son of Baseball Hall of Fame player Hank Greenberg, and Lecesse also have not commented.

 

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In the end, Richardson, who took pride in bringing an NFL expansion franchise to the Carolinas, will have a strong interest in finding the right buyer, regardless of the dollar figures involved, said Groth, of Axum Capital Partners.

“This is his legacy,” Groth said. “How the sale is handled is the closing chapter.”

 

[Mr. Scot]

Found what might be an interesting tidbit on Sabates group while looking up info on David Tepper.

This comes from Chuck Howard on Fox46.

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The Panthers are, of course, still vetting other potential candidates including a group involving local businessmen Felix Sabates and Bruton Smith, as well as Ben Navarro of Charleston.

That's the first mention I've seen of Bruton Smith being part of Sabates' bid.  There was mention of hos son Marcus Smith before but it was never confirmed.

So far, no majority owner has been named in Sabates' group, but Bruton Smith would seem to be a very likely candidate.

[Mr. Scot]

Okay, I'm not going to go tinfoil hat on anybody, but there is something I have to admit I'm curious about.

In the past 24 hours, three or four different national analysts all made reference to David Tepper being the leading candidate to be the next owner of the Panthers.

Has anybody seen a single mention of Tepper from any of our beat reporters?

Wouldn't this kind of be big news that somebody who covers the Panthers would want to talk about?

Strange.

[Mr. Scot]

The "Wittenberg Family Trust" might be fake.

 

[Palmetto]

http://www.charlotteobserver.com/sports/nfl/carolina-panthers/article204579014.html

 

[Mr. Scot]

Interesting stuff. I wonder if his overseas ties are where the "international interests" come in (I suspect not, but it's possible).

Sounds again like Sabates realizes he's out of his league. Maybe someone he thought he could get to join him decided not to.

Also still sounds like Tepper is probably still the favorite, but it's crunch time and it's definitely getting interesting.

[Mr. Scot]

Side Note: Rubin's pic looks like someone digitally aged Channing Tatum about 20 years.

[CarolinaNCSU]

6-8 potential buyers and the list keeps growing?  I think we end up pushing and sell for around 3 billion, way above the 2.3 value. 

Rubin is an interesting one.  Minority owner already for the 76ers and Devils, and Rap said the 76er players love him.  Rap described him as "Cuban-lite" in the NBA.  He owns "Fanatics" which could also be interesting as well.  From a merchandising stand point, he could do A LOT with the Panthers and their current players I would think...not to mention just being closer to the NFL in general he could probably swing some nice deals for his side businesses. 

[Squirrel]

If it goes over 2.5 billion Richardson should payback the PSL owners.  Even just 500 million to the PSL owner would be be close to $8000 per owner seat. 

I wouldn't even mind if it was based on sections. With the lower levels getting more. $10000 per seat lower levels $3000 per seat upper.