Jason La Canfora of CBS Sports reports that the recent projections that the Panthers could end up selling for around $2.5 billion are exaggerated.
Although, the expectation is that the franchise will still sell for in excess of $2 billion and should be completed by the start of the 2018 season, according to La Canfora.
Current Panthers owner Jerry Richardson reportedly is intent on selling and the process is likely to move quickly with there being no lack of interested parties.
La Canfora explains that the NFL will have a more limited role in this sale, which means Richardson will have unusual autonomy in the sale process and won’t be required to sell the team to the highest bidder. The NFL still has to approve the deal by two-thirds support from the owners.
From the sources La Canfora has spoken to, it seems unlikely that Richardson would sell the team Diddy, who has said he would like to buy the franchise.
One thing worth keeping an eye on for the Panthers is the fact that the Panthers are tied to their current stadium only until 2019. La Canfora says that potential relocations options including London, San Diego and St. Louis could provide some additional leverage for the new owner with the city of Charlotte regarding stadium upgrades.
We’ll have more regarding Panthers’ sale as the news is available.