The Carolina Panthers are expensive. That may be the understatement of the year. Wednesday, the price of the organization reached $2.5 billion per a report from Scott Soshnick of Bloomberg.com. That sets a record for a U.S. professional sports franchise.
The high asking price has forced some prospective buyers to drop out of contention. Michael Rubin, the executive chairman of Fanatics has dropped out of contention. He originally submitted a bid with Joe Tsai, the Executive Vice Chairman of Alibaba.
With Rubin out of the fold, there are still many bidders in the mix. David Tepper founder of Alpaloosa Management, and a minority owner of the Pittsburgh Steelers is still in the running.