Panthers sale price expected to exceed expectations
The Carolina Panthers will have a new owner soon, although it may come at a higher price…
News of the Carolina Panthers pending sale emerging in late December was not surprising following allegations into workplace misconduct from team owner and founder Jerry Richardson. After news of the investigation broke, Richardson relinquished control of his franchise but said he would field no offers until the offseason.
As the season approaches and a May NFL owners meeting looms, the Panthers and league both hope to have an accepted offer on the table for a vote. Even if the money is available, a new owner must be approved by fellow owners with at least two-thirds of the majority vote.
Originally projected by Forbes with a $2.3 billion valuation, at least one expert is expecting the franchise to fetch even more money once everything is finalized. Jeffrey Moorad, a former sports agent and minority owner with both the Arizona Diamondbacks and San Diego Padres believes that number will be at least $2.75 billion.
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While this is obviously good news for those that have a stake in the investment, it is also a positive for Panthers fans and the city of Charlotte. Any new owner who commits that amount of money to purchase the team is likely not going to immediately dish out even more change for a new stadium or pay the NFL their required relocation fees.
The city of Charlotte has already invested money into the existing Bank of America Stadium and the upgrades have been tremendous. Over the past several seasons Carolina has raised their original stadium up to modern standards with the addition of escalators, new concession stands, increased wireless capabilities, video boards and an improved sound system.
Potential billionaires are reported to be lining up for the opportunity to purchase but no news of any official bids has been released. Until then, the immediate future of the franchise remains in question.
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Hopefully there will be some answers soon.