No minority partners

[Mr. Scot]

1 hour ago, pnthrs said:

https://pantherswire.usatoday.com/2018/06/26/report-new-panthers-owner-david-tepper-to-buy-out-partners/

 

This is says bluntly that 2.275b was just for Jerry’s stake. It has to be a mistake. Tepper isn’t paying 5.6b for the team. 

Yeah. Weaver has it wrong.

It was reported at the beginning of the process that Richardson was selling 100% of the team, not just his stake. And the team sure as hell isn't valued at 5 billion plus.

[Snake]

20 hours ago, rodeo said:

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

[ECUPantherFan]

20 hours ago, 4Corners said:

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! 

More hypothetical racism from 4.  Lmao.

[pnthrs]

https://pantherswire.usatoday.com/2018/06/27/panthers-wire-mailbag-is-david-teppers-takeover-hostile/

 

panthers wire doubling down on ignorantly stating Tepper bought 48% of the team for 2.275b.  

[Moo Daeng]

13 minutes ago, pnthrs said:

https://pantherswire.usatoday.com/2018/06/27/panthers-wire-mailbag-is-david-teppers-takeover-hostile/

 

panthers wire doubling down on ignorantly stating Tepper bought 48% of the team for 2.275b.  

I blame any misunderstanding on the fact the media has put no effort in to reporting anything in a clear manner.

Its the giant fuging elephant in the room detail that they won't address.

[Mr. Scot]

18 minutes ago, pnthrs said:

https://pantherswire.usatoday.com/2018/06/27/panthers-wire-mailbag-is-david-teppers-takeover-hostile/

 

panthers wire doubling down on ignorantly stating Tepper bought 48% of the team for 2.275b.  

USA Today's guys have done some shoddy reporting before.

Kinda embarrassing...

[Moo Daeng]

Tim Weaver is an independent sports writer as noted at PanthersWire.  This is the new age of "journalism". Its pretty much  a sports blogging network facilitated by USA Today. It's Wordpress

[Paa Langfart]

On ‎6‎/‎26‎/‎2018 at 12:40 PM, 4Corners said:

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! 

The way the title is written and as the facts stand it means both things.  No minority partners and no minority partners.

[GRWatcher]

This article may help clean it up. 

https://247sports.com/nfl/carolina-panthers/Article/David-Tepper-opting-not-to-bring-in-limited-partners-with-Carolina-Panthers-ownership-119378312

Quote

Richardson owned 48 percent of the franchise, which equated to around $1 billion of the selling price. The other 52 percent was made up of the following minority owners: Richardson’s wife Rosalind; his children Mark and Ashley; M.C. Belk Pilon; Katie Belk Morris; H.C. Bissell; Erskine Bowles; Derick Close; Elliott Close; Cameron Harris; John Harris; Leon Levine; Jerry Wordsworth; and Steve Wordsworth. NFL majority owners are required to purchase at least 30 percent of the team to make it theirs.

 

[Mr. Scot]

There's also a pretty lengthy discussion on this in the Charlotte Business Journal.

David Tepper won't keep any of Jerry Richardson's minority investors

One thing I found interesting in this piece...

Quote

 

Richardson owns 48% of the Panthers. He exerted an iron-clad grip over the team as the lead partner, exemplified by the refusal of other investors to publicly discuss their roles as minority partners during the past 25 years.

That tight-lipped protocol held even as Richardson became the subject of an ongoing investigation into his workplace behavior and decided to sell his team rather than face additional scrutiny. Real estate executive Johnny Harris, a consistently voluble interview subject, declined several requests for comment in recent months on the imminent sale and future of the NFL team he had held an interest in from the beginning.

Another investor, Derick Close, on Monday offered me what has become the standard response to Panthers’ ownership questions from reporters: “No comment.”

It occurs to me that, although he might not say it, the possibility that Richardson's partners could have even in the slightest possible way known about or been party to Richardson's misconduct probably makes sending them on their way a smart decision.

[Moo Daeng]

1 hour ago, Mr. Scot said:

There's also a pretty lengthy discussion on this in the Charlotte Business Journal.

David Tepper won't keep any of Jerry Richardson's minority investors

One thing I found interesting in this piece...

It occurs to me that, although he might not say it, the possibility that Richardson's partners could have even in the slightest possible way known about or been party to Richardson's misconduct probably makes sending them on their way a smart decision.

"Fourth, the investigation also confirmed that the Panthers and its ownership did not report the claims, or any agreements to resolve those claims, to the League Office and that neither the League Office nor the club's limited partners were aware of these matters until they became public in December of 2017."

[pnthrs]

20 minutes ago, Moo Daeng said:

"Fourth, the investigation also confirmed that the Panthers and its ownership did not report the claims, or any agreements to resolve those claims, to the League Office and that neither the League Office nor the club's limited partners were aware of these matters until they became public in December of 2017."

I know the limited partners were kept in the dark by JR. I’m wondering if all this “no comment stuff” is because there is a behind the scenes law suit with minority owners and JR. Jerry sold the team under value and quickly and forced the minority owners to take that valuation. If this were a regular sale minority owners wouldn’t be so unanimously quiet. Just my opinion. Maybe JR worked a deal out with them but either way it’s too quiet. 

 

Guys that owned the team since inception should and would be making statements about how they are “sad to see it go but are happy that it’s a good owner” or some other crap. Maybe they are gagged until sale is finalized. We will see in aug/sept. Most of these guys lived in panther stadium on game day and losing that suite and clout is going to be a big personal blow. I can’t imagine multiple owners don’t have a word or two about this situation. 

[Moo Daeng]

28 minutes ago, pnthrs said:

I know the limited partners were kept in the dark by JR. I’m wondering if all this “no comment stuff” is because there is a behind the scenes law suit with minority owners and JR. Jerry sold the team under value and quickly and forced the minority owners to take that valuation. If this were a regular sale minority owners wouldn’t be so unanimously quiet. Just my opinion. Maybe JR worked a deal out with them but either way it’s too quiet. 

 

Guys that owned the team since inception should and would be making statements about how they are “sad to see it go but are happy that it’s a good owner” or some other crap. Maybe they are gagged until sale is finalized. We will see in aug/sept. Most of these guys lived in panther stadium on game day and losing that suite and clout is going to be a big personal blow. I can’t imagine multiple owners don’t have a word or two about this situation. 

They have not commented about the team since the very beginning. 

[pnthrs]

2 hours ago, Moo Daeng said:

They have not commented about the team since the very beginning. 

True.  The #1 reason to not comment is you aren't allowed to.  The top 2 reasons you aren't allowed to is 1) you contractually aren't allowed and 2) you aren't allowed to due to potential litigation.  

 

If my business partner hid sexual and racial lawsuits from me and then those situations caused a sale of the business for less than market value..... oh boy I would sue.  Like I said earlier - these guys aren't just enjoying the money from the panthers - they now don't get the perks that they all REALLY enjoy. poof.  I bet they are angry.