The next owner of the Carolina Panthers will set the market for other NFL teams that might go up for sale in the next five years. The next owner likely will not live in Charlotte, even though the team probably will remain here for years because this is where the league wants it. The next owner might even not be among the half-dozen reported potential bidders. These are things we know. What we don't know is who will be the next owner of the organization that founder Jerry Richardson put up for sale after the 2017 season amidst an NFL investigation into allegations of workplace misconduct ranging from sexual harassment to the use of a racial slur toward a former team scout. We don't know when the purchase will be completed, though nothing appears imminent. The bidding process, which league sources say hasn't officially begun, could take months. Sources tell ESPN that the bidding likely will begin in March and could conclude by the May 21-23 spring meeting in Atlanta. Richardson can accept or reject any bid, and the process could take several rounds of counter-bids before both sides reach an agreeable price. Then three-quarters of the 32 owners must approve the sale, and that occurs after approval by the league's finance committee. The spring meetings might be an optimistic timeline for approval. The Buffalo Bills, the last NFL team sold, went on the market following the March 25, 2014, death of owner Ralph Wilson. The sale, for an NFL-record $1.4 billion, didn't get approval from the finance committee until September and wasn't finalized by owners until Oct. 8. In other words, this is a lengthy process just like the sale of any corporation. The Panthers have been valued at $2.3 billion, according to Forbes. They could be sold for that or more. They also could be sold for less -- maybe considerably less. It all depends on how many legitimate bidders there are to drive up the price. As it is now, there are only two real bidders: David Tepper and Ben Navarro.
Where Panthers sale stands: Who's interested and what's next
ESPN | Feb 27