The Carolina Panthers owner Jerry Richardson has announced that he intends to sell his franchise after the season. This move came after an investigation was announced against Richardson amid allegations of sexual harassment in the workplace and the use of a racial slur directed at a team scout.
When Richardson does sell the team, he is going to cash-in big time. In the latest franchise valuations by Forbes, the Panthers have an estimated value of $2.3 billion, however, most are speculating that the team will eventually sell for something closer to $2.5 billion.
Richardson’s family owns 48% of the team, which means their share would be roughly $1.2 billion. That a pretty hefty return on their initial investment of about $70 million, half of the $140 million expansion fee paid to the NFL for the franchise in 1993.
- Mike Nudelman/Business Insider