Why is the sale of the team taking so long?

[Mr. Scot]

1 minute ago, NcPsa10 said:

Billionaire hedge fund manager David Tepper has made a bid to buy the NFL’s Carolina Panthers for more than $2 billion.

Frank and Lorenzo Fertitta, the owners of Station Casinos and Red Rock Resorts, are also considering a Panthers bid, and they have hired the Raine Group to explore selling the casinos, as the NFL prohibits team owners from owning gambling interests.

Source: https://pagesix.com/2018/02/26/david-tepper-makes-play-for-carolina-panthers/

[Fox007]

13 minutes ago, Mr. Scot said:

Source: https://pagesix.com/2018/02/26/david-tepper-makes-play-for-carolina-panthers/

I could absolutely get down with the Fertittas they brought the UFC up from a poo show to a mainstream sport and I have no doubt they'd be in it to win it(with healthy dose of Dana White obviously but it shows they'll put good people in charge). What's the quick and dirty on Tepper?

[Mr. Scot]

6 minutes ago, Fox007 said:

I could absolutely get down with the Fertittas they brought the UFC up from a poo show to a mainstream sport and I have no doubt they'd be in it to win it (with healthy dose of Dana White obviously but it shows they'll put good people in charge). What's the quick and dirty on Tepper?

I wouldn't necessarily go to PageSix for sports news but it's not like this hasn't been talked about in other places.

Interesting that they say Diddy is now trying to get in on somebody else's bid. Wonder whose.

[PantherOnTheProwl1523]

1 minute ago, Mr. Scot said:

I wouldn't necessarily go to PageSix for sports news but it's not like this hasn't been talked about in other places.

Interesting that they say Diddy is now trying to get in on somebody else's bid. Wonder whose.

Diddy may as well hang it up he don't have the necessary assets to even cover anything of this magnitude.

[Mr. Scot]

7 minutes ago, rbsponsel52 said:

Diddy may as well hang it up he don't have the necessary assets to even cover anything of this magnitude.

If he signs on with someone else, he won't be a majority owner but he'll have a stake.

My guess would be Sabates.  He's also reportedly talked to Steph Curry.

[NcPsa10]

7 minutes ago, Mr. Scot said:

If he signs on with someone else, he won't be a majority owner but he'll have a stake.

My guess would be Sabates.  He's also reportedly talked to Steph Curry.

kid rock and Diddy , That would be some funny stuff 

[Eazy-E]

3 hours ago, Mr. Scot said:

Everybody that's interested in buying the team is supposed to have signed a confidentiality agreement. Given that, you'd expect nobody to be talking, but Sabates has shot his mouth off several times.

As Jordan Rodrigue has pointed out, billionaires tend to operate in secret.

Did not know about the confidentiality agreement. Makes a lot of sense. Thank you.

[Harbingers]

Because JR thinks he’s going to worm his way out of trouble he’s in. Keep Hurney and destroy the team.

[GRWatcher]

2 hours ago, Squirrel said:

Great post

 

But I think we are already in the sealed bid process. Wouldn't be surprised if we are in the 2nd round going into the third round. 

Thank you! If rumors are to be believed that there are still people talking about wanting to join an owner group, I think the initial discovery period is still ongoing. It won't be closed just for expediting the sale; they want as many bidders as possible. The 1st sealed bid process is more a group's view of the value of the organization than an offer for purchase and those bidders will know where they stand when it is closed which is why many will drop out. I don't think we're yet as far along as the 2nd bidding step which is when it starts to get serious. 

[Mr. Scot]

8 minutes ago, GRWatcher said:

Thank you! If rumors are to be believed that there are still people talking about wanting to join an owner group, I think the initial discovery period is still ongoing. It won't be closed just for expediting the sale; they want as many bidders as possible. The 1st sealed bid process is more a group's view of the value of the organization than an offer for purchase and those bidders will know where they stand when it is closed which is why many will drop out. I don't think we're yet as far along as the 2nd bidding step which is when it starts to get serious. 

We don't really know how new or old any of the info we're seeing is, especially given that everybody except Felix Sabates seems to be under a confidentiality agreement.

[Woodie]

1 hour ago, Mr. Scot said:

We don't really know how new or old any of the info we're seeing is, especially given that everybody except Felix Sabates seems to be under a confidentiality agreement.

And I think Sabates was probably talking before he officially became a part of an ownership group, so wasn't compelled by the confidentiality agreement.  We haven't heard from him lately, which suggests that he has since joined a group and is now bound by the agreement.

[Mr. Scot]

6 minutes ago, Woodie said:

And I think Sabates was probably talking before he officially became a part of an ownership group, so wasn't compelled by the confidentiality agreement.  We haven't heard from him lately, which suggests that he has since joined a group and is now bound by the agreement.

That would make sense.

[Woodie]

1 hour ago, GRWatcher said:

Thank you! If rumors are to be believed that there are still people talking about wanting to join an owner group, I think the initial discovery period is still ongoing. It won't be closed just for expediting the sale; they want as many bidders as possible. The 1st sealed bid process is more a group's view of the value of the organization than an offer for purchase and those bidders will know where they stand when it is closed which is why many will drop out. I don't think we're yet as far along as the 2nd bidding step which is when it starts to get serious. 

Because of the confidentiality agreement, I think most of what we are hearing are second and third hand reports.  So, the specifics and timing is probably pretty far off of what is true.  That's why we get mixed messages about most of the groups and where they are in the bidding stage. 

However, it does strike me that the one constant we hear about is David Tepper's interest and the fact he is the clear front runner.  If the reports are true that the owners want him to take ownership of the team, then perhaps these are internal leaks intended to scare off other suitors.  Have nothing to base that on, just wondering out loud.

 

[Mr. Scot]

7 minutes ago, Woodie said:

Because of the confidentiality agreement, I think most of what we are hearing are second and third hand reports.  So, the specifics and timing is probably pretty far off of what is true.  That's why we get mixed messages about most of the groups and where they are in the bidding stage. 

However, it does strike me that the one constant we hear about is David Tepper's interest and the fact he is the clear front runner.  If the reports are true that the owners want him to take ownership of the team, then perhaps these are internal leaks intended to scare off other suitors.  Have nothing to base that on, just wondering out loud.

It's reasonable. The story about him being the front runner did, after all, come from NFL.com

Tepper is already "in the club" so to speak, and given how much money he brings to the table it's reasonable to believe that the NFL wants him to have a bigger stake.

Someone else pointed out that the 5% stake Tepper has in the Steelers was bought from Jimmy Haslam, who basically followed the same path.  I suppose you could get fairly tinfoil hattish with that if you wanted to.