Billionaire Michael Rubin bidding for Carolina Panthers


Rapper and producer Sean "Diddy" Combs and Golden State Warriors guard Stephen Curry are among the minority investors e-commerce billionaire Michael Rubin has assembled, according to an ESPN report.

The report also noted that Rubin appears to be going up against Sherman Financial Group CEO Ben Navarro, as well as hedge fund billionaire David Tepper for the purchase.

Rubin, whose net worth is estimated at $2.7 billion, already owns minority shares of the NBA's Philadelphia 76ers and the NHL's New Jersey Devils.

Late a year ago, Carolina Panthers owner Jerry Richardson, announced his decision to sell the team following a Sports Illustrated report which outlined some of Richardson's alleged sexual and racial misconduct toward former employees.

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However the cost could be driven down if there aren't enough bidders to drive it up. An NFL owner can have up to 25 members in his ownership group.

We first learned that the Panthers would be put up for sale after workplace misconduct allegations surfaced against the team's founder and current owner, Jerry Richardson. He later spoke to reporters about it. "Spread the word." Curry tweeted that he wanted in, and said that he'd talked to his representatives about making it happen. The NFL requires a majority owner to put up 30% of the sale price. "Nothing really to say about it besides that I'm very interested and very willing to do what it takes to make that happen".

According to ESPN, official bids are expected to begin coming in over the next couple of weeks. A number of sources added that the earliest date that they would be expected to do that would be during meetings held in Atlanta this May. The eventual buyer will have to get approval by three-quarters of the league's 32 owners.