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No minority partners

Mr. Scot

By Mr. Scot,
in Carolina Panthers

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Mr. Scot Grand Master

Mr. Scot

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Update: Now being reported that the deal may not close until early August.

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Incoming NFL Panthers Owner David Tepper has made the choice to buy out all existing team limited partners and own the club outright, sources said. Outgoing Owner Jerry Richardson owns 48% of the club. Tepper held the right to buy out all of the partners at his first option, and his intention to buy the whole club and not keep the current LPs has not been made public. Representatives for Tepper, his legal counsel and investment banker declined to comment. Tepper’s purchase values the Panthers at $2.275B, so the decision to buy out the other 52% is obviously a pricey one. The deal is expected to close next month or by early August.

Sports Business Daily

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Moo Daeng Experienced

Moo Daeng

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This aspect has not been covered or explained very well. Early they said that the entire team was for sale, so I suppose that meant the owner would have option to buy out partners if desired. 

This suggests that he must now pay more. At what rate? Certainly not at a rate relative to what has been stated already. There's now way he's going to put up that much and more. But then that sucks for the current partners.  

Really incomplete and patchy reporting of this. Nobody knows anything on the outside.

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t96 Grand Master

t96

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2 minutes ago, Moo Daeng said:

This aspect has not been covered or explained very well. Early they said that the entire team was for sale, so I suppose that meant the owner would have option to buy out partners if desired. 

This suggests that he must now pay more. At what rate? Certainly not at a rate relative to what has been stated already. There's now way he's going to put up that much and more. But then that sucks for the current partners.  

Really incomplete and patchy reporting of this. Nobody knows anything on the outside.

I see nothing that suggests he’s paying more for anything now than before...

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Jon Snow Grand Master

Jon Snow

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4 minutes ago, t96 said:

I see nothing that suggests he’s paying more for anything now than before...

Yeah I didn't see it reported anywhere that the 2.2 billion was only for JR's share.  It was assumed that the price stated was for the whole enchilada.

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Mr. Scot Grand Master

Mr. Scot

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1 minute ago, t96 said:

I see nothing that suggests he’s paying more for anything now than before...

The price was always fixed. As I understand, limited partners could have helped pay part of it.

Tepper's comments in the short press conference he gave - specifically, about minority partners potentially making things more complicated - made it sound like this would be the way he would go. It's now confirmed.

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4Corners Grand Master

4Corners

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3 minutes ago, rodeo said:

this title triggered me, are you trying to have a tinderbox invasion

There are a couple posters here who probably saw the thread title and let out a big holler of excitement and then clicked the thread and were really disappointed to find out didn’t mean what they thought it meant. . Sad! 

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4Corners Grand Master

4Corners

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Just now, Mr. Scot said:

The price was always fixed. As I understand, limited partners could have helped pay part of it.

Tepper's comments in the short press conference he gave - specifically, about minority partners potentially making things more complicated - made it sound like this would be the way he would go. It's now confirmed.

Too many cooks in the kitchen 

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Moo Daeng Experienced

Moo Daeng

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10 minutes ago, t96 said:

I see nothing that suggests he’s paying more for anything now than before...

"Tepper’s purchase values the Panthers at $2.275B, so the decision to buy out the other 52% is obviously a pricey one."

The above certainly makes it sound that way. My point was that they  report on a very specific thing in a very vague and unclear manner.

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vorbis Community Regular

vorbis

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from a strategic standpoint, having no minority partners means major long-term decisions can be made more nimbly. i.e. if he wants a new stadium he can just move ahead with a plan. if he wants to partner with an MLS team or something on a larger stadium site development, he can throw his weight around quite a bit to get what he wants, without any other voices or concerns.

also means he can make whatever decisions on the football side that he wants, and have nothing to stop him from doing so. for better or worse. given the judgment Tepper has exhibited as an investor, philanthropist, and business leader so far, I tend to think it's for the better. though change is always a little uncomfortable.

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