Panthers Ownership Rumors: David Tepper, Ben Navarro Only 'Real Bidders'

Pittsburgh Steelers minority owner David Tepper and Sherman Financial Group founder Ben Navarro are reportedly the only "real bidders" involved in the sale of the NFL's Carolina Panthers.

On Tuesday, Darren Rovell and David Newton of ESPN.com reported the official bidding process is expected to begin in March and could conclude during league meetings in May.

Panthers owner Jerry Richardson announced his intention to sell the franchise in December after the NFL took over an investigation into allegations of workplace misconduct.

"There has been no greater mission or purpose in my life than to have brought an NFL franchise to Charlotte," Richardson wrote. "The obstacles back then were significant, and some even questioned whether or community could or would support professional football. But I always knew that if given the chance, The Carolinas would rise to the occasion. And you have."

Tepper is the founder of Appaloosa Management, a Florida hedge fund. Forbes, which notes the Pittsburgh native is "arguably the greatest hedge fund manager of his generation," lists his net worth at $11 billion. The outlet projects the Panthers are worth $2.3 billion.

He's viewed as the current front-runner, per Rovell and Newton.

The ESPN.com report states Navarro's net worth is $3 billion, but NFL owners are concerned about the "litigious nature of the debt-collection industry" from which his fortune has been created.

TMZ Sports noted rapper Sean "Diddy" Combs and Golden State Warriors superstar Stephen Curry are part of another group that hopes to bid on the Panthers. Rovell and Newton said the coalition and others of a similar nature "don't have the financial wherewithal without a majority owner."

There is no firm timetable for a transition of power since the winning bidder or group must gain approval from the league's finance committee and at least 24 of the 32 owners before finalization.