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Tuesday, December 11, 2018

Report: Two bidders remain in Carolina Panthers sale

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The sale process of the Carolina Panthers is down to two bidders, according to a new report.

Ken Belson of the New York Times reported Monday that hedge-fund billionaire David Tepper has withdrawn from bidding at the current price of $2.5 billion, leaving two main bidders. Investor Ben Navarro and Bedrock Industries CEO Alan Kestenbaum are still in the running.

Navarro has reportedly offered $2.6 billion for the Panthers, though it is unknown if he would require other investors to pay up. That $2.6 billion price would easily set a record and make the Panthers the most valuable franchise in American sports in terms of sale price.

That price has driven away some other bidders. Tepper was not willing to go that high, and another major contender pulled out a few weeks ago as the price continued to skyrocket. A winning bid could be chosen by the end of April, barring any setbacks.

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