Sean “Diddy” Combs may have lost his last opportunity to buy the Carolina Panthers as recent reports say the asking price has become too expensive.
ESPN reported two weeks ago Diddy was back in the running to purchase the Panthers as a minority member of a diverse group of investors led by billionaire businessman Michael Rubin.
Sean “Diddy” Combs appears to have dropped out the bidding war for the Carolina Panthers. (Photo by Chris Pizzello/Invision/AP)
But according to Bloomberg, Rubin recently dropped out of the bidding war, as the price has now reached $2.5 billion, which would apparently set a new record for most money ever spent on the purchase of a North American pro sports franchise.
As the owner of Fanatics, the world’s leading online seller of licensed sports merchandise, Rubin’s net worth is valued at $3 billion, according to Forbes. With the support of Diddy’s $875 million net worth and other investors, Rubin—already a co-owner of the NBA’s Philadelphia 76ers, was looking like a strong favorite to buy the Panthers.
But even richer investors than Rubin are now interested, according to Bloomberg, including billionaires Jim Goodnight ($9.9 billion net worth) and Jim Pattison ($7.5 billion). Other serious potential buyers reported include billionaires David Tepper ($11 billion net worth) and Ben Navarro ($3 billion net worth).