Bad Boy Records CEO Diddy and NBA champion Steph Curry might be ready to bid farewell on owning the North Carolina Panthers. A new report claims the duo may not be going after the star-studded NFL team despite some initial hype.
A new report claims the investment group interested in making a bid to own the past NFC champions may have fallen through.
Curry’s name was linked to a possible ownership group headed by Michael Rubin, an e-commerce billionaire. Bloomberg reported Wednesday that Rubin’s group wasn’t willing to match a price for the Panthers that reportedly had reached $2.5 billion. ESPN has reported that sources said Curry, along with music star and mogul Sean “Diddy” Combs, belonged to Rubin’s group. However, ESPN had only been able to confirm Alibaba Group’s Joseph Tsai, another billionaire businessman, as a potential investor with Rubin, the executive chairman of sports-apparel company Fanatics. (Charlotte Observer)
Despite possibly losing a couple big entertainers, the Panthers still have ample interest from potential buyers.
Remaining bidders include Alan Kestenbaum, chief executive officer of private equity firm Bedrock Industries LP, leading an investor group that the people said is backed by Canada’s third-richest person, billionaire Jim Pattison. Appaloosa Management LP founder David Tepper, already a minority owner of the National Football League’s Pittsburgh Steelers, has also submitted a bid. So has Ben Navarro, CEO of Sherman Financial Group, a South Carolina-based finance company that caters to subprime borrowers. (Bloomberg)
Earlier in the week, Steph Curry assured fans he’s still interested in the North Carolina squad.
Curry, who grew up in Charlotte and has long been an avid fan of the Panthers, said that his quest to become an NFL owner is “not a distraction” during the NBA season, but “definitely something I’m working on. Trying to figure out the right moves and the right partner- You’ll hear stuff when I’m ready to make that be known all the way around, but it’s still ongoing.” (USA Today)
In January, Steph addressed Diddy’s interest owning the NFL team.
Steph was out in Beverly Hills Friday with his wife, Ayesha, when he told us he’s getting closer to buying his beloved football team, and says … “This is a real thing, so hopefully it happens sooner than later.” Curry says he’s been in contact with Diddy and they’re formulating a strategy to make a legit play for ownership of the NFL team … but there’s a lot of work to do still. (TMZ)