Sunday night, Carolina Panthers owner Jerry Richardson posted a letter on the team’s website announcing his plans to sell the team amidst allegations of inappropriate workplace behavior against him.
Here’s what you need to know (and everything that’s happened since then).
- Forbes valued the Panthers at $2.3 billion in September (teams generally sell above their valuation)
- NFL ownership rules require one incoming owner to control 30% of the team’s equity, so any potential controlling owner will need ~$700 million
- The Panthers are in year 5 of a 6-year tether to Charlotte, N.C., meaning the team could relocate after the 2018-2019 season
- This would be the first sale of an NFL team since 2014, and is expected to break previous $2 billion records set by the L.A. Dodgers in 2014 and the L.A. Clippers in 2012
- 82K people retweeted Diddy’s Twitter announcement that he’s interested in buying the team…
- ...and 31K retweeted Stephen Curry’s reply that he wants in
There are zero majority African American NFL owners, and according to Diddy – he’s ready to make history
