Sean “Diddy” Combs may not be able to make history with the Carolina Panthers after all. Months after the rapper/mogul announced he wanted to become the first Black majority owner in the NFL, his prospects for becoming even a minority owner have been dashed.
Fanatics sports apparel billionaire Michael Rubin has dropped out of the running because of the team’s rapidly growing purchase price, which has topped out at $2.5 billion, according to a Wednesday, March 21 Bloomberg report. He had been putting together a group of investors, which included Combs and Curry.
When ESPN reported Combs and Curry were in talks to join the group of up to 25 potential buyers a week earlier, the Panthers were estimated to be worth $2.3 billion by Forbes magazine. However, Yahoo reported that things were never finalized for Diddy and Curry to join.
After owner Jerry Richardson put the Panthers up for sale late last year following allegations of sexual and racial harassment, Diddy announced he wanted in on new ownership.
“I would like to buy the @Panthers. Spread the word. Retweet!” he tweeted in December. “There are no majority African-American NFL owners. Let’s make history.”
Soon after Curry, a North Carolina native who plays for the Golden State Warriors, and free agent quarterback Colin Kaepernick wanted in.
While it remains to be seen how Diddy, Curry and Kaepernick fair, Bloomberg reported active bids on the Panthers continue from Bedrock Industries LP chairman and CEO Alan Kestenbaum, South Carolina billionaire Ben Navarro, and hedge-fund billionaire David Tepper.
After official bids take place in the next two weeks, the buyer will need approval from 75 percent of NFL team owners. Sources told ESPN that would likely happen at the earliest in May during meetings in Atlanta.