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David Tepper expected to purchase Carolina Panthers for record $2.2 Billion

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http://www.espn.com/nfl/story/_/id/23509278/david-tepper-sign-carolina-panthers-purchase-deal

 

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Pittsburgh Steelers minority owner David Tepper is expected to sign the deal Tuesday to buy the Panthers and keep them in North Carolina, a league source told ESPN's Seth Wickersham and Adam Schefter.

A source confirmed to ESPN that the Panthers will be sold for $2.2 billion. That will set a record for the highest sale price for an NFL team, surpassing the $1.4 billion that the Buffalo Bills were sold for in 2014. The NBA's Houston Rockets also sold for $2.2 billion in 2017.

The Charlotte Observer first reported the Panthers' sale price.

The deal would be expected to be approved at the owners meetings in Atlanta on May 22. The purchase needs approval from the NFL financial committee and then three-fourths approval from the 32 owners.

 

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I take it he has to sell his minority shares of Pittsburgh, right?

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Just now, EliteTexan80 said:

I take it he has to sell his minority shares of Pittsburgh, right?

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Because Tepper, 60, is a minority owner of the Steelers, he has already passed the league's vetting process. He currently owns 5 percent of the Steelers and would have to sell that interest before completing the Panthers purchase.

 

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Posted (edited)

Forbes had valued the Panthers at $1 billion just 6 years ago.

For all the 'woe-is-me football is dying' talk, potential owners are dropping big bucks for mid-tier franchises.

Edited by cddolphin

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seems like there will be a fairly decent personality shift from the previous regime.

I wonder how and how quickly changes will be made to the team.

 

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Posted (edited)
11 minutes ago, freak_of_nature said:

I wonder how much Cam Newton contributes to that valuation. 

I'd hope not much.   Nothing against Cam, but it's not like he's the face of the NFL (he had the window to be marketed that way, but that closed quickly). 

I don't buy Mark Cuban's take that franchises will double in value simply because of legalized gambling, but it's safe to say that the market to buy a NFL team is probably never going to be better than it is now (buying earlier of course an even better bet).   The CBA isn't going to cause Armageddon until 2021 at the earliest, they've navigated their way through the concussion issue to where they can claim they are now being proactive, and they've developed policies on DV that make them appear tougher than many other sports are (at the cost of actually having a process that's transparent and impartial, but those are just details ¬¬).   

With online revenues going up, TV revenues pretty stable, and now gambling being legalized, it's hard not to see why the franchises' value are so high.  I suspect Tepper & co. will make a nice profit off this when it's their turn to sell.

Edited by Broncofan

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the last minority pittsburgh steelers owner to buy a franchise sure worked out

thanks goodell

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1 hour ago, cddolphin said:

Forbes had valued the Panthers at $1 billion just 6 years ago.

For all the 'woe-is-me football is dying' talk, potential owners are dropping big bucks for mid-tier franchises.

Gonna be interesting how much the value around the league goes up now with Sports Betting. Advertising alone from betting outlets is going to boost it back to where it was and well beyond.

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1 hour ago, Kiltman said:

seems like there will be a fairly decent personality shift from the previous regime.

I wonder how and how quickly changes will be made to the team.

 

There's a tweet by Adam Schefter (I have no idea how to share those things) that says he wants, "Continuity, stability, progressive thinking on player contract extensions, and not setting the market on free agents.  He wants the Steeler Way in Carolina."

So it will be the same.  Richardson's thing was always he wanted to be like the Steelers.

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Man, 2.2 billion for the panthers seems huge.  Not downplaying them as a franchise, but it makes me wonder what a team like the Bears would go for in such a large market like Chicago, in the situation that they sell.  Virginia McCaskey has said it will never leave her family, but who knows what happens when her reign ends. 

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55 minutes ago, mistakey said:

the last minority pittsburgh steelers owner to buy a franchise sure worked out

thanks goodell

 

10 minutes ago, DaveDX said:

There's a tweet by Adam Schefter (I have no idea how to share those things) that says he wants, "Continuity, stability, progressive thinking on player contract extensions, and not setting the market on free agents.  He wants the Steeler Way in Carolina."

So it will be the same.  Richardson's thing was always he wanted to be like the Steelers.

To be fair, Jimmy Haslem was a minority Steeler owner, what @mistakey was referring to above.

That's about as anti-Steeler way as it gets.    Hopefully Haslem was just the exception to the rule lol.   I think the universe would cease to exist if we had two orgs run the way Haslem has run the Browns.

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If the only thing Tepper does is make it a safe environment for women at Panthers HQ, it's a big win.

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6 minutes ago, Broncofan said:

 

To be fair, Jimmy Haslem was a minority Steeler owner, what @mistakey was referring to above.

That's about as anti-Steeler way as it gets.    Hopefully Haslem was just the exception to the rule lol.   I think the universe would cease to exist if we had two orgs run the way Haslem has run the Browns.

I'm just quoting from the Yahoo article regarding the sale.  That's what he said his plans are.

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18 minutes ago, TankWilliams said:

Man, 2.2 billion for the panthers seems huge.  Not downplaying them as a franchise, but it makes me wonder what a team like the Bears would go for in such a large market like Chicago, in the situation that they sell.  Virginia McCaskey has said it will never leave her family, but who knows what happens when her reign ends. 

I find it interesting that the Panthers sold for an amount similar to the Houston Rockets. The Rockets have a significant market share in China (from when Yao Ming played in Houston) so there's an international appeal to the franchise. Houston is also the 4th largest city in the US and the Rockets were the only team in the city with a championship pedigree (well, until recently...)

Just imagine the money a "National" team such as Pittsburgh, Dallas or Green Bay would go for...

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