Diddy, ownership group move forward with bid to buy Carolina Panthers

Diddy just got a step closer to owning the Carolina Panthers. Along with Warriors guard Steph Curry and a small group of investors, Diddy is partnering with billionaire Michael Rubin to purchase the football team which is estimated to be worth $2.3 billion.

ESPN reported that since Diddy and Curry don’t have the cash buy the team outright, they’ll need others to invest in an ownership group, Each NFL team can have up to 25 owners.

According to Rubin, “both [Diddy and Curry] offer the robust diversity Rubin is looking for in partners and would be most likely to join his effort, although nothing has been finalized.”

Rubin (who is the owner of Fanatics) also has ownership stakes in other franchises like the Philadelphia 76ers, New Jersey Devils and the Premier League’s Crystal Palace. He is currently the front-runner of all serious bidders for the Panthers.

Former Panthers owner Jerry Richardson agreed to sell the team in December after reports surfaced that he paid at least four women to keep quiet about workplace misconduct, including sexual harassment and using a racial slur. Richardson founded the franchise in 1993.