Richardson may indeed be holding out for more money

[Mr. Scot]

As crazy as that sounds...

Quote

...while there is no official deadline, it’s taking longer than expected to find a new owner.

There was optimism that the sale of the team would be a smooth and fast process when the Panthers season ended in January, according to Dan Kaplan of the Sports Business Journal.

“I believe there were unrealistic price expectations on the part of the Panthers ownership, so we're seeing a bit of a slowdown,” Kaplan said.

In less than a month, league owners will convene in Atlanta for the annual owners meeting, which is a perfect time for a vote to approve the sale but a winning bidder for the team has yet to emerge.

That’s just the start of the vetting process completed first by the NFL’s finance committee.

“It’s up to the individual finance committee members whether they want to go beyond, ‘Does this person have money? Will they have enough working capital?'” Kaplan said.

The more questions there are then that means more time it will take but Kaplan believes it is just a matter of time.

“The expectation is ownership of the Panthers would not be submitting a bidder to the NFL that could not meet approval,” Kaplan said.

That doesn't mean there won't be questions that need to be addressed by this key group of nine NFL owners.

[RELATED: Potential bidders for Panthers sale visit Queen City]

“There’s a lot of skepticism that this can get done by May 21, 22,” Kaplan said.

Clock ticking on Panthers sale

In his radio interview back on April 12th, Darin Gantt said he expected the new owner to be known well before the Draft.  But Draft day is here, and we're still waiting.

It's possible that Richardson is just being a prick to spite the NFL.  If that's the case, then this may not take too much longer. If he really is holding out for more money though, who knows?

I know a lot of folks are impatient for this process to be over.  I haven't been to date, but I'm starting to head in that direction.

[bewonee]

1 minute ago, Mr. Scot said:

As crazy as that sounds...

Clock ticking on Panthers sale

In his radio interview back on April 12th, Darin Gantt said he expected the new owner to be known well before the Draft.  But Draft day is here, and we're still waiting.

It's possible that Richardson is just being a prick to spite the NFL.  If that's the case, then this may not take too much longer. If he really is holding out for more money though, who knows?

I know a lot of folks are impatient for this process to be over.  I haven't been to date, but I'm starting to head in that direction.

i mean its gonna end in may regardless of if richardson got his price expectation or not

[blackcat]

They can't make Richardson sell for less than he wants.  Can they?

[Mr. Scot]

2 minutes ago, bewonee said:

i mean its gonna end in may regardless of if richardson got his price expectation or not

Actually, no.

The owners meetings are scheduled for May 21st, and the expectation has been that that's when they'll vote on the new owner, but Richardson still has to choose the owner first.  Until he does, there's nobody to vote on. So yes, this could drag on past the May deadline.

I don't believe it will, but it's definitely possible.

[Mr. Scot]

5 minutes ago, blackcat said:

They can't make Richardson sell for less than he wants.  Can they?

Yes and no.

They can't technically force him to take a lower price than he wants, but they have the power to vote him out of ownership and then basically take over the sale themselves.

One or two folks on here have said the believe Richardson is going to play chicken with the league and basically force them to vote on him.  Don't know if that's true (certainly hope not) but it's a possibility. Sad thing there is that the league taking over the sale potentially screws Ben Navarro in favor of David Tepper.

I'm hoping this ends way more peacefully than that.

[pnthrs]

Do we have any specifics on the process of owners forcing out another owner?  My guess is they would have to 1) find impropriety and then 2) vote (unanimously?) to withdraw the franchise and then sell it on his/her behalf. ??

 

this would bring countless lawsuits because a forced sale wouldn’t fetch a price that a natural sale would but it seems that the natural sale isn’t going to plan also. 

 

What we we need to know is if JR is basing his lack of sale progress on spite or on actual financials. I’m sure he will say one thing and the league another. 

[Mr. Scot]

17 minutes ago, pnthrs said:

Do we have any specifics on the process of owners forcing out another owner?  My guess is they would have to 1) find impropriety and then 2) vote (unanimously?) to withdraw the franchise and then sell it on his/her behalf. ??

this would bring countless lawsuits because a forced sale wouldn’t fetch a price that a natural sale would but it seems that the natural sale isn’t going to plan also.

What we we need to know is if JR is basing his lack of sale progress on spite or on actual financials. I’m sure he will say one thing and the league another. 

Just bits and pieces gathered from various sources, mostly. Gantt verified they can indeed force him out. Someone on here who works in the legal field previously stated that since his ownership is legally in the form of a franchise agreement, the NFL basically holds all the cards.

Heck, for all I know, if they force him out, he could get nothing.  But the suggestion from carpanfan96 was that he wants to force a vote so that they basically have to "look him in the eyes".  It seems pretty ridiculous to think of dumping a billion dollars or more just for something like that, but from what we know of Richardson via Gantt and other sources, I'm not gonna rule it completely out.

How much is your ego worth to you?

[Paa Langfart]

1 hour ago, Mr. Scot said:

“I believe there were unrealistic price expectations on the part of the Panthers ownership, so we're seeing a bit of a slowdown,” Kaplan said.

So this is ALL nothing but speculation .  Nothing new to see here folks lets move along.

[pnthrs]

7 minutes ago, Mr. Scot said:

Just bits and pieces gathered from various sources, mostly. Gantt verified they can indeed force him out. Someone on here who works in the legal field previously stated that since his ownership is legally in the form of a franchise agreement, the NFL basically holds all the cards.

Heck, for all I know, if they force him out, he could get nothing.  But the suggestion from carpanfan96 was that he wants to force a vote so that they basically have to "look him in the eyes".  It seems pretty ridiculous to think of dumping a billion dollars or more just for something like that, but from what we know of Richardson via Gantt and other sources, I'm not gonna rule it completely out.

How much is your ego worth to you?

The force out is a SLIPPERY slope. If the NFL can’t find factual evidence of wrongdoing (which is probable since the “victims” are behind NDAs) the. The NFL has to decide if it is going to set a precedent with JR to vote out a franchise holder for being guilty in the court of public opinion. 

 

Then where do you stop? Should the Titans owner be out for being racist for the prison and inmates comment? Do we remove every owner who has reached a settlement with an accuser?  That is going to be a can of worms. I would say confidently over half the league has been accused at least once and had to settle something. If the NFL can just yank franchises for accusations than a lot of owners will be sweating  in lookin at you Jerry Jones

 

The NFL would have to take the stance JR is a racist and a sexual deviant to push him out. That would be hard pressed with no investigation showing factual impropriety. It would start a sh!t storm of lawsuits and public battles. 

[TheCasillas]

Is it richardson that chooses the final price or is it voted with the rest of the minority owners?

[Squirrel]

$3 billion!

[pnthrs]

1 minute ago, TheCasillas said:

Is it richardson that chooses the final price or is it voted with the rest of the minority owners?

Depends on how their internal ownership contract is written. My guess is since JR can initiate a total sale that the minority owners do not have much say in sale price but may have some slight veto ability at a certain price point. 

[CashNewton22]

Maybe this means Darin Gantt knows a lot less than he’s been pretending to but idk I’m just spitballing here 

[Mr. Scot]

4 minutes ago, pnthrs said:

The force out is a SLIPPERY slope. If the NFL can’t find factual evidence of wrongdoing (which is probable since the “victims” are behind NDAs) the. The NFL has to decide if it is going to set a precedent with JR to vote out a franchise holder for being guilty in the court of public opinion.

Then where do you stop? Should the Titans owner be out for being racist for the prison and inmates comment? Do we remove every owner who has reached a settlement with an accuser?  That is going to be a can of worms. I would say confidently over half the league has been accused at least once and had to settle something. If the NFL can just yank franchises for accusations than a lot of owners will be sweating  in lookin at you Jerry Jones

The NFL would have to take the stance JR is a racist and a sexual deviant to push him out. That would be hard pressed with no investigation showing factual impropriety. It would start a sh!t storm of lawsuits and public battles. 

I think you were talking about the Texans owner.

Technically, they already have Richardson on a violation of the Personal Conduct policy.  All legal agreements like NDAs are supposed to be reported to the league.  The Panthers failed to do that on at least four occasions.

As to the investigation, we don't really know whether they have anything or not at this point.  I suspect that even if they do, the NFL would like to keep it as hush hush as possible. Richardson may want to get it all out there just for spite.

Who knows  at this point?