Fanatics owner Michael Rubin may bid on the Carolina Panthers Sources
Michael Rubin now owns a stake in the Philadelphia 76ers, New Jersey Devils, and the Premier League team Crystal Palace.
Rubin has grown Fanatics into a $4.5B business, as one of the largest online retailers of licensed sportswear and merchandise. Sources told the Observer that Rubin would not have the ability to purchase the franchise on his own and would likely bring on a partner for any potential bid.
The Panthers announced the team was for sale in December, after their longtime owner Jerry Richardson was accused of workplace misconduct.
A local ownership group also is mulling a bid, the Observer reported.
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Rubin joins a field of interested buyers including Charlotte businessman Felix Sabates, who is part of a group of investors hoping to buy the team.
Other possible Panthers bidders reported so far include Pittsburgh Steelers minority owner and hedge fund manager David Tepper and Charleston's Ben Navarro, whose diverse financial services company includes a fast-growing credit card company that caters to largely subprime borrowers.
Rovell reported that "Rubin, who is worth $3 billion according to Forbes, is more familiar to National Football League owners and has already been embraced by many of them over the years". With an overall price of $500 million for the two previous bids combined, and an estimated value of over $2 billion for the Panthers, it is unclear if he will be utilizing the same investment team at this time. Rubin is known for having a good relationship with 76ers players, he said.
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