Sports

Panthers are now for sale

Panthers are now for sale
Carolina Panthers - Jerry Richardson - Sexual Harassment
January 08
01:452018

Three weeks ago, Panthers owner Jerry Richardson announced that the franchise will be sold, but that the process would not commence until the season ends.

As previously explained in this space, which always sounds pretentious but I can’t think of any other way to say it, Richardson owns 48 percent of the team, but he has the ability to trigger the sale of all of it.

The appropriate firms have been hired, and bids will be gathered from groups of up to 24 owners, with a controlling owner who would personally purchase at least 30 percent of the team.

All proposed owners will be subject to a vetting progress that, given the issues that prompted Richardson to sell the team, likely will be even more rigorous than they were in the past.

Richardson, who had wanted the investigation to be run by the team that he owns, reportedly settled at least four potential lawsuits with former employees; three alleged sexual harassment, and one alleged racially inappropriate comments.

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