The Carolina Panthers, , are being sold to billionaire David Tepper for about $2.2 billion. Tepper will be the next Panthers owner once he's approved by the rest of the league's owners, a likely scenario given his previous status as a Steelers minority owner.
Panthers sale proceeding to David Tepper as reported last week. There is nothing shocking about sale price. People in know always told me $2B-2.2B was range. Were never getting $2.5B— Jason La Canfora (@JasonLaCanfora) May 15, 2018
So what happens next for the Panthers? According to La Canfora on the Pick Six Podcast -- CBS' daily NFL podcast, subscribe via iTunes | via Stitcher | via TuneIn | via Google Play -- Tepper purchasing the Panthers is good news for the front office and coaching staff, because Tepper is "incredibly comfortable" with the current setup in Carolina.
"I'm told he's incredibly comfortable with Marty Hurney, Ron Rivera and the powers that be in football operations right now. He's got glowing reports on them from the Rooneys and the highest levels of the Steelers organization and he's been doubling back with them for weeks on this since he got back into the process."
La Canfora reported that at a certain point during the sale process, Tepper was willing to walk away because the bankers involved in the process were looking for a number that was higher than he was willing to go. Think $2.5 billion instead of his limit of $2.2 billion.
Tepper was willing to walk because, in part, he knew he could make the deal happen at that price without involving other people in the process, unlike the other bidders. And it became clear to those involved in trying to sell the team that one owner, capable of stroking a check right away, was better than a conglomerate of 15 guys trying to cobble together $2.5 billion.
"As a minority owner of the Steelers he's already vetted and well known within the football community, and because he's one of the richest individuals on the planet, who can stroke a check for $2.2 billion," La Canfora said. "He can pull $2.2 billion out of his pocket and not have it affect his liquidity whatsoever."
Despite the continuity coming to the front office and coaching staff, don't be surprised if there is change coming in other areas of the team, primarily because of the fallout from the investigation into former owner Jerry Richardson.
"Obviously communications, corporate PR, team president, there are going to be some things that change there in the fallout of all the scandals," La Canfora noted. "And he's going to have to take that all head on. Starting with the statue of Jerry Richardson outside the stadium and the investigation and all that stuff. And that's some of the things that are being sorted through right now. Are there going to be other lawsuits still to come? There are things that people want to get tied up.
"But in terms of the nature of this deal and his ability to finalize it from a finances standpoint, that, I'm told is effectively a done deal."
So the Panthers will have a new owner soon, potentially as soon as the beginning of June, and almost certainly by the time the next league year rolls around. For the sake of clearing the decks and trying to move on from the Jerry Richardson era, that's a positive thing.
Listen to the full show below to hear us break down the Panthers sale, the latest on the Matt Patricia front, the beef between Joe Flacco/Lamar Jackson and much more. Hit the subscribe button while you're at it: via iTunes | via Stitcher | via TuneIn | via Google Play.