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Potential buyer out of the running to purchase Panthers as sale could reach $2.5B

CHARLOTTE, N.C. — The potential sale of the Carolina Panthers could now reach $2.5 billion, according to Bloomberg.

Such a steep price tag seems to be too high for one bidder, though. ESPN reports that Fanatics owner Michael Rubin is no longer in the running to buy the franchise.

ESPN previously reported that Charlotte native Stephen Curry and rapper Sean "Diddy" Combs were part of Rubin's group, but now sources said they were never confirmed partners in the bid.

ESPN was also reporting that Rubin could still return to the bidding process.

Three groups have already submitted bids, including Pittsburgh Steelers minority owner David Tepper, South Carolina businessman Ben Navarro and equity firm CEO Alan Kestenbaum.

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A source also told ESPN that Salisbury native James Goodnight, the co-founder and CEO of the software company SAS, has shown interest in purchasing the Panthers. It is not clear whether Goodnight, valued by Forbes at $10 billion, has made a bid.

The Panthers are valued by Forbes at $2.3 billion. The record for the sale of a professional sports franchise in the United States is the Houston Rockets, who were sold for $2.2 billion in 2017.

Richardson, 81, announced in December plans to put the team up for sale amidst an NFL investigation into allegations of sexual and racial workplace misconduct.

He stepped down from the day-to-day operations of the organization after a Sports Illustrated article detailed the allegations. Tina Becker was named the chief operating officer.

After Richardson selects his choice for the winning bid, three-fourths of the 32 NFL owners have to approve the sale. The most likely time frame for that, ESPN reported last month, is the May 21-23 meetings in Atlanta.

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