Panthers Sale: After playoff loss, what's next for team?

CHARLOTTE, N.C. — The Carolina Panthers playoff loss to the New Orleans Saints not only ended the team's season, but an era.

It was the final game for team owner for Jerry Richardson, who founded the team and became principal owner in 1995.

Richardson, who is being investigated by the NFL for workplace misconduct, will sell his 48 percent stake in the team.

[Panthers owner Jerry Richardson to sell team at end of season]

Channel 9 recently spoke with an NFL consultant who said the league would like to see the sale completed by the start of next season's training camp in late July. That's a seven-month timeline to complete a financial transaction estimated at more than $2.5 billion.

During that time, multiple bids will be evaluated and potential owners will be vetted. Two-thirds of current NFL owners will eventually be asked to approve the sale.

Moore & Van Allen is the Charlotte-based law firm handling the sale of the Panthers. Attorney Billy Moore has been understandably tight-lipped about the process and declined to comment when asked on Monday.

Other New York-based firms are also involved in the multi-faceted sales process and will handle the financial side of the transaction.

Thus far, music mogul Sean Combs and Charlotte-native Steph Curry have shown interest in buying the team.

Last week, Charlotte Hornets minority owner Felix Sabates told Channel 9 he's putting together a bid, along with some investors who already have a stake in the team.

Sabates said his group wants to keep the Panthers in Charlotte.

[Sabates: 'We're not doing this just to play in the owner's box']

A spokesperson for Felix Sabates -- who is leading a local group of investors hoping to buy the Panthers -- said they did not receive any bidding instructions from the Panthers on Monday.

Players thank Richardson

Some of the Panthers players hugged and thanked Richardson in the locker room after the game Sunday.

Greg Olsen spoke about the impact Richardson had on the team.

“He means something different to a lot of different people,” Olsen said. “You will never lose that, and what he brought to our lives -- we would have liked to take this further.”

Channel 9 was in the locker room with the players Monday morning. They said they are sad to see Richardson leave.

While there's a lot of uncertainty about next season, linebacker Thomas Davis said he can't focus on that.

“For us as players, we just gotta focus on the most important thing and that's making sure we come back ready to go, regardless of what happens,” he said.

Experts told Channel 9 the team could sell for more than $2.3 billion. The owner would have to dish out $600 million in cash, and a majority of the NFL owners would have to give approval.

Head coach Ron Rivera told Channel 9 he has talked to Sabates, but about football, not the business. Rivera said he hopes whoever buys the team keeps it in Charlotte.

“We've shown that we can be supported, and we have been, by the community, that we give back to the community,” Rivera said. “I think we have things in place that makes us an ideal location.”

Channel 9 asked the Panthers for an update on sales process now that the season has ended. They declined to comment and directed Channel 9 to the law firms leading the effort.

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