Panthers Sale Reportedly 'Moving Away' from Ben Navarro Bid

Alec Nathan@@AlecBNathanFeatured ColumnistMay 11, 2018

NEW ORLEANS, LA - DECEMBER 03:  A Carolina Panthers helmet is seen during a game against the New Orleans Saints at the Mercedes-Benz Superdome on December 3, 2017 in New Orleans, Louisiana.  (Photo by Jonathan Bachman/Getty Images)
Jonathan Bachman/Getty Images

Ben Navarro is reportedly out of the running to purchase the Carolina Panthers

According to ESPN.com's David Newton, "the sale is moving quickly in the direction of another candidate."

That candidate has been identified as Pittsburgh Steelers minority owner David Tepper. 

Citing a source, Newton reported that Navarro was informed "the process was not moving in his favor" over the past two days. 

According to Forbes, Tepper—who is the president and founder of Appaloosa Management—has an estimated net worth of $11 billion and is classified as "arguably the greatest hedge fund manager of his generation."

It's unclear what the final sale price will be, but the New York Times' Ken Belson reported in March the franchise could garner an NFL-record $2.5 billion. 

Jerry Richardson, who founded the Panthers in 1993, put the team up for sale on Dec. 17, hours after Sports Illustrated's L. Jon Wertheim and Viv Bernstein published an explosive investigation that showed the 81-year-old made "significant" payments to at least four former employees in exchange for their silence regarding inappropriate workplace conduct. 

According to the report, Richardson sexually harassed multiple female employees and used a racial slur when talking to an African-American scout. 

Tepper, 60, is expected to receive a recommendation as the Panthers' next owner as soon as Monday or Tuesday, per Newton. 

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