Two emerge as leaders to bid on Panthers, according to reports

CHARLOTTE, N.C. — Two potential bidders have emerged as front-runners to purchase the Carolina Panthers, according to a report by ESPN.

Neither David Tepper and Ben Navarro live in Charlotte, but NFL officials said they want to keep the franchise in the Queen City.

Tepper, a minority owner of the Pittsburgh Steelers, appears to be the interested bidder with the best chance to purchase the Panthers, according to ESPN.

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The Panthers have been valued at $2.3 billion, according to Forbes, but they could be sold for more or less than that. About $690 million will have to be paid upfront.

Tepper is the founder of the global hedge fund firm Appaloosa Management and has a net worth of $11 billion, according to Forbes.

Navarro, the founder of Charleston, South Carolina-based Sherman Financial Group LLC, has a net worth of $3 billion.

Bidding for the Panthers hasn’t started. Sources told ESPN that the bidding likely will begin in March and could conclude by the May 21-23 spring meeting in Atlanta.

Owner Jerry Richardson, who put the team up for sale, can accept or reject any bid, and three quarters of the NFL’s owners must approve the sale.

Several high-profile NASCAR drivers, including seven-time champion Jimmie Johnson, Kyle Busch, Dale Earnhardt Jr. and Jeff Gordon, reportedly have expressed interest in being minority owners with a group headed by Felix Sabates, who does not have the capital to be the primary investor, ESPN reported.

Golden State Warriors star Stephen Curry, who was raised in Charlotte, showed interest in bidding on the Panthers, along with Sean “P Diddy” Combs.

The NFL allows a team of up to 25 people to buy a franchise, but the majority owner must own at least 30 percent of the team.

The Panthers hired Steve Greenberg, of New York investment bank Allen & Co. to assist with the sale.

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