At least four bidders are reportedly still in the running to purchase the PanthersGETTY IMAGES
The "rapid escalation" of the NFL Panthers' asking price to a reported $2.5B has prompted Fanatics Founder & Exec Chair Michael Rubin to "drop out of the process," according to sources cited by Scott Soshnick of BLOOMBERG NEWS. This comes despite Rubin's backing from Alibaba Exec Vice Chair Joe Tsai. Remaining bidders include Bedrock Industries CEO Alan Kestenbaum, reportedly "backed by Canada's third-richest person" in Jim Pattison. Steelers investor David Tepper and Sherman Financial Group Founder & CEO Ben Navarro have submitted bids as well. Sources said that interest from North Carolina-based SAS Institute CEO Jim Goodnight also is "looming over the deal" (BLOOMBERG NEWS, 3/21). ESPN.com's Newton & Rovell cited sources as saying that Rubin is "willing to go higher than his initial bid" and that he "remains interested at what he considers the right price" (ESPN.com, 3/21). In Charlotte, Rothacker & Peralta in a front-page piece note Kestenbaum's Bedrock Industries in June "bought a 107-year-old Canadian steel company now called Stelco Holdings" (CHARLOTTE OBSERVER, 3/22).
SITTING THIS ONE OUT: In Charlotte, Joseph Person notes Panthers Owner Jerry Richardson will "skip the NFL annual meetings next week in Orlando." A team spokesperson said that COO Tina Becker will "represent the Panthers on all voting matters and any other league business." Richardson has "missed most of the owners meetings in recent years because of health issues." A source said that owners at the meetings will "receive an update" on the Panthers’ sale (CHARLOTTE OBSERVER, 3/22).
