With the team set to hit the block, the Carolina Panthers have announced the selection of parties that will be involved in the financial and legal aspects of their upcoming sale.
Last month, it was revealed that Panthers owner Jerry Richardson will put the team on the market once the Panthers’ current season concludes. That announcement came after a report in Sports Illustrated indicated that at least four former Panthers employees were given monetary settlements after coming forward with complaints about inappropriate workplace comments and conduct by Richardson.
The Panthers are planning to move forward with the sale process, and have announced the parties that will be involved in the financial and legal components. The New York-based Allen & Company has been tapped to handle the financial aspects of the sale, while firms from New York and Charlotte will be involved in the legal components. In addition, the Panthers continue to emphasize that they will not launch the sale process and begin considering offers until their last game has been played. More from The Charlotte Observer:
On financial matters, the sale will be led by Steve Greenberg of the New York investment bank Allen & Company LLC, the team said in a statement. Joe Leccese – New York-based chairman of Proskauer Rose LLP – and Billy Moore – a Charlotte-based attorney with Moore & Van Allen – will handle legal matters.
“As previously stated, the process will not begin, and offers will not be entertained, until the last game is played,” the team statement read.
Allen & Company is a notoriously tight-lipped, privately held bank that has handled deals for high-profile clients such as Coca-Cola, News Corp., and Google according to reports.
Its former chairman Donald Keough, also a former Coca-Cola executive, was a minority owner of the Panthers until his death in 2015.
The pending sale process has prompted some discussion about what will become of the Panthers’ home, Bank of America Stadium. While renovations have been completed at the facility in recent years, there have been questions over whether a new ownership group will push for the construction of a domed stadium that could put Charlotte in a better position to host events such as the Super Bowl and NCAA Final Four.
On the field, the Panthers are preparing for the NFL playoffs, as they will visit the New Orleans Saints for a Wild Card Round matchup on Sunday.
Image of Bank of America Stadium courtesy Carolina Panthers.