Report: Diddy, Curry involved in bid for Panthers ownership

Field Level Media/Reuters

Posted at Mar 14 2018 09:33 AM

Golden State Warriors star Stephen Curry and music star Sean "Diddy" Combs are potential minority owners as part of a group that billionaire Michael Rubin is putting together with hopes of buying the Carolina Panthers, according to an ESPN report.

The owner of sports retailer Fanatics, Rubin emerged Sunday as a major bidder to buy the team. ESPN noted that as of Monday, he was one of three known bidders with the financial strength to be a majority owner who notified the NFL with a formal letter of intent required by the league.

Hedge fund billionaire David Tepper and Ben Navarro, the founder and CEO of Sherman Financial Group, are the others.

The team was put up for sale at season's end by founder Jerry Richardson, who is being investigated by the NFL for allegations of workplace misconduct. When news of the expected sale emerged, Combs tweeted his desire to buy the team and Curry responded on Twitter that he also was interested.

The franchise is valued at $2.3 billion, per Forbes, which also estimates Rubin's net worth at $3 billion. The league requires at least 30 percent of the sale price to be put down by the majority owner, with as many as 25 minority owners allowed in an ownership group.

Rubin also has a stake in the NBA's Philadelphia 76ers, the NHL's New Jersey Devils and the English Premier League's Crystal Palace.

Official bids are expected to come in over the next few weeks, with approval from two-thirds of the league's owners required to complete a sale.

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