Panthers controlling owner Jerry Richardson owns only 48 percent of the franchise. But much more than 48 percent of the team will be for sale. According to the team, the full 100 percent of the franchise’s equity will be available, when the team is placed on the market after the 2017 season ends. This necessarily means that, under the relevant operating agreements, Richardson has the ability to trigger a full and complete sale of the team, regardless of whether those who own the remaining 52 percent of the team don’t want to sell their shares.