Diddy and Steph Curry Produce Historic Football Should They Purchase NFL Franchise Carolina Panthers
Will Diddy and Steph Curry Create A [Historic Football] Team By Purchasing NFL Franchise Carolina Panthers?
Sean Combs, better known as Diddy, and Steph Curry have both shown strong interest in purchasing the NFL Franchise Carolina Panthers. The current owner of the team, Jerry Richardson, has announced that he will be selling the team at the end of the season. Richardson's decision to sell the team was followed by allegations of sexual and racial misconduct.
Since the formal announcement that the Carolina Panthers were up for grabs, Diddy has tweeted that he was interested in buying the team, and Curry followed that tweet in saying, "I want in too."
Since, the Hip-Hop Mougal, Diddy tweeted his interest in buying the Carolina Panthers he has been seen on video verbalizing his interest and intentions for the team.
Comb's promises the best half-time shows, Super Bowl wins and giving Colin Kaepernick, the controversial activist, a shot at quarterback, a position currently held by Cam Newton.
It's very rare that an NFL team is up for grabs. The scarcity of opportunity makes the purchase of an NFL team extremely expensive. Forbes recently valued the Panthers at 2.3 billion dollars. Forbes reveals that in order to satisfy the league rules, an incoming owner must at least buy control of 30% of the team's equity, and debt limits are capped at 250 million dollars. In essence, one must invest a minimum of $600 million dollars to be the controlling owner of the Carolina Panthers.
Currently, there are 12 potential contenders to buy the Carolina Panthers. However, 3 potential contenders already have part ownership of the team. As current part-owners of the Carolina Panthers they, more than likely, have "right of first refusal," meaning if someone who has a larger share of the team wants to sell their share, the part-owners get the first opportunity to buy.
The 3 potential contenders already in partial ownership of the team are:
The Belk Family: founder of Belk retail stores, owns about 5% of the Panthers.
The Levine Family: previous owners of the Family Dollar stores, owns 10% of the team.
Steve & Jerry Wordsworth: meat distributors for large food chains like Burger King, own 16%.
It's very rare that an NFL team is up for grabs. The scarcity of opportunity makes the purchase of an NFL team extremely expensive. Forbes recently valued the Panthers at 2.3 billion dollars. Forbes reveals that in order to satisfy the league rules, an incoming owner must at least buy control of 30% of the team's equity, and debt limits are capped at 250 million dollars. In essence, one must invest a minimum of $600 million dollars to be the controlling owner of the Carolina Panthers.
Currently, there are 12 potential contenders to buy the Carolina Panthers. However, 3 potential contenders already have part ownership of the team. As current part-owners of the Carolina Panthers they, more than likely, have "right of first refusal," meaning if someone who has a larger share of the team wants to sell their share, the part-owners get the first opportunity to buy.
The 3 potential contenders already in partial ownership of the team are:
The Belk Family: founder of Belk retail stores, owns about 5% of the Panthers.
The Levine Family: previous owners of the Family Dollar stores, owns 10% of the team.
Steve & Jerry Wordsworth: meat distributors for large food chains like Burger King, own 16%.
Critics believe that if Comb's includes contributions from Kaepernick while attempting to purchase Richardson's 49%, he could lose the deal altogether. As multiple fans demand refunds due to their disagreement with Kaepernick stance and controversy remains high affecting the bottom line for current NFL Team Owners, Diddy's offer could be refused out of fear of the recompense it might cause overtime.
As Forbes has said, "don't be surprised if a billionaire comes out of the woodworks and snatches the entire deal from all the contenders" as even those with "a right of first refusal ' could sell their interest for the right investor. It's interesting to see what is going to happen.
However, if Sean Comb's, better known as Diddy, purchases 49% of the team he would become the NFL's first black principal owner making the Carolina Panthers a historic football team altogether.
What's your respectful opinion? Do you think Sean Combs would make a good NFL Principal Owner? Should Kaepernick get a shot at quarterback and possibly replace Cam Newton? Shoot your respectful comments to me in the comment box below. I'd love to hear your opinion.
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