We heard earlier this week that Michael Rubin is “considered a serious bidder in the race to buy” the Panthers organization. However, it sounds like the Fanatics owner won’t be the only big name in his bid. ESPN’s David Newton reports that music mogul Sean “Diddy” Combs and NBA star Steph Curry “are among a strong, diverse group” of potential minority owners that Rubin has been putting together. An owner is allowed to have up to 25 members in his ownership group.
Curry and Combs have both previously expressed interest in being part-owners of the Panthers. Diddy is currently valued at $820MM, while Curry, who went to high school in Charlotte, took home an estimated $47.3MM in 2017. While the duo might not have enough cash to be a majority owner, Newton points out that they “have the robust diversity Rubin is looking for in partners.” The two will likely join Rubin’s effort to own the Panthers, although no agreement has been finalized.
Rubin, who owns a stake in the Philadelphia 76ers, New Jersey Devils and Premier League team Crystal Palace, is estimated to be worth $3 billion. The potential owner is primarily competing with two other serious candidates: hedge fund billionaire David Tepper and debt collector Ben Navarro. However, NFL.com’s Ian Rapoport tweets that there have been six to eight “viable bidders” for the team.
Formal bids are expected to be due in a couple of weeks, as the NFL would like to get a deal approved before the owners meetings in May. Following allegations of work misconduct, owner Jerry Richardson announced that he was selling the organization back in December.
I’ll pass on Steph and Diddy
Better than a debt collector as an owner
Why so Steph Curry can own 0.000003% of an NFL team? He wouldn’t be an owner he’d be a marketing ploy.
He could potentially invest over 50 million, and that probably equates to about 1% right? Minority owners typically don’t get more than a few percent and he could easily buy more now or he could buy out other minority owners later after his mega contract ends.
Yeah, I wouldn’t be worried about how Curry having a stake in the team. He’s got hundreds of millions in NBA salary to collect before his career is over. All of the Under Armour money, and then any other marketing stuff, he’ll have plenty to put towards a minority ownership.