Ben Navarro Made Highest Panthers Bid
David Tepper‘s $2.275 billion Panthers purchase price was not the high bid during this process. Albert Breer of SI.com reports Ben Navarro‘s bid came in closer to Jerry Richardson‘s desired $2.6 billion price. But NFL owners had long preferred Tepper, a part-owner of the Steelers, to Navarro. Richardson wanted the team to go to a Carolinian, and Navarro is a Charleston, S.C., native. However, Tepper was able to make his bid mostly in cash, whereas Navarro had to bring in partners some in the league’s power structure found unsatisfactory. The NFL “didn’t trust his money,” Breer writes, paving the way for Tepper. A credit card company mogul, Navarro encountered scrutiny from other owners, to the point he had to hire a PR firm to navigate obstacles during this high-profile pursuit. Additionally, fellow bidder Michael Rubin assembled a group of potential buyers that turned off some owners, Breer reports.
- Tepper will try to run the Panthers like the Steelers; he’s unlikely to change Carolina’s football operations at this point. In preparation for this entrance into the franchise-ownership game, Tepper consulted Steelers GM Kevin Colbert and VP of football and business administration Omar Khan about Panthers GM Marty Hurney and HC Ron Rivera. And Breer reports the Pittsburgh execs were staunch supporters of both Carolina decision-makers.
Panthers Could Hire Mike Keenan
- Speaking of business operations, new Panthers owner David Tepper may look to hire former Browns president and CFO Mike Keenan, tweets Rapoport. Keenan, who was team president in Cleveland from 2008-10, has recently worked in consulting, per Rapoport, and working with clubs in multiple sports. While Tepper may make changes on the business end once he takes over in Carolina, he’s not expected to revamp the Panthers’ football staff.
Panthers Announce Sale To David Tepper
It’s a done deal. On Wednesday morning, the Panthers officially announced the sale of the team to hedge fund manager David Tepper. Tepper will pay $2.2 billion in cash for the team plus $75MM down the line, pushing the total purchase price to $2.275 billion (Twitter link via NFL.com’s Ian Rapoport).
“Bringing the Panthers and the NFL to the Carolinas in 1993 was enormously fulfilling for Rosalind and me and all of our partners,” club founder Jerry Richardson said in a press release. “We are deeply grateful for the outpouring of support over the last 25 years. You have taken the Panthers into your hearts and made them part of this warm and supportive community. We want to thank all of our past and present players, coaches and staff for their hard work in making the Panthers a great success both on the field and in the community. The personal relationships we have enjoyed have been very meaningful to us. I look forward to turning the stewardship of the Panthers over to David Tepper. I have enjoyed getting to know him in this process and am confident that he will provide the organization with great leadership in both its football and community initiatives.”
Given that he has been a minority owner of the Steelers since 2009, it is expected that the NFL will quickly approve the transaction during the spring league meeting later this mont in Atlanta. The business end of the deal should be finalized by July, per the team’s announcement.
“I am thrilled to have been selected to be the next owner of the Carolina Panthers,” Tepper said. “I have learned a great deal about the community and the team over the past several months and look forward to becoming part of the Carolinas. I want to thank Jerry Richardson and the other Panthers partners for all they have done to establish and develop the NFL in the Carolinas. It has been a remarkable 25-year journey and I promise to build upon the Panthers’ success on the field and in the community.”
New Panthers Owner Unlikely To Alter Football Ops
Minority Steelers owner David Tepper was expected to formally purchase the Panthers today, and while he’ll assume control of the franchise in the near future, Tepper isn’t planning to overhaul Carolina’s front office or coaching staff, according to Mike Florio of Pro Football Talk.
General manager Marty Hurney and head coach Ron Rivera are each under contract through the 2020 campaign, and given that Adam Schefter of ESPN.com reported earlier today Tepper wants to bring the “Steeler Way” to Carolina, it’s no surprise he’s unwilling to make major changes upon takeover. Indeed, “continuity, stability, [and] progressive thinking on player contract extensions” are said to be Tepper’s initial goals, so keeping incumbent staff in place seems like an obvious strategy.
Rivera, of course, has enjoyed immense success as the Panthers’ head coach, but Hurney’s status as general manager seemed a bit more tenuous. Hurney, now in his second stint leading Carolina’s front office, only recently had the interim label removed from his title, and it was unclear whether new ownership would seek to retain him.
David Tepper To Purchase Panthers
Steelers’ minority owner David Tepper is expected to sign the deal today to buy the Panthers, league sources tell Seth Wickersham and Adam Schefter of ESPN.com (on Twitter). The deal will be finalized upon the NFL’s approval at the league meetings on Tuesday, May 22.
The $2.2 billion sale marks a new NFL record, though it was not necessarily the highest bid. During the process, there have been rumblings of bids in the $2.5 billion range. Late last year, there was some talk of a sale in the neighborhood of $3 billion, but that never came to pass.
However, Tepper’s purchase comes mostly in cash, which gave him a leg-up over the competition. He’s also a slam dunk to pass the NFL’s vetting process since he already owns a piece of the Steelers and the Panthers likely wanted to move on from the Jerry Richardson situation as quickly as possible.
The sale is indicative of the continued growth and health of the league, despite some fretting in 2017 over sagging television ratings. It’s also likely a product of the Supreme Court’s recent decision to allow states to legalize gambling. The decision from the country’s highest court is expected to open up new revenue streams for sports league, boost overall interest, and bring new fans into the fold.
In terms of football operations, it remains to be seen how the purchase affects the team. What we do know, per Schefter, is that Tepper will keep the team in Carolina. Meanwhile, Tepper is hoping to bring the Steeler way to Charlotte as he will emphasize “continuity, stability, progressive thinking on player contract extensions, and not setting the market on free agents,” per Schefter (Twitter link).
Minor NFL Transactions: 5/14/18
Today’s minor moves (so far):
Arizona Cardinals
- Signed: DT Siupeli Anau, WR C.J. Duncan, LB Airius Moore, OL Greg Pyke
- Waived: CB Elijah Battle, LB Mike Needham, OL Austin Olsen, WR Jonah Trinnaman
Baltimore Ravens
- Signed: DE Da’Sean Downey
Buffalo Bills
- Signed: FB Zach Olstad
- Waived/Injured: RB Aaron Green
Carolina Panthers
- Signed: WR Bug Howard, C Kyle Friend, T/G Quinterrius Eatmon, DE Karter Schult
- Waived/Injured: CB Zack Sanchez
Chicago Bears
- Signed: WR Matt Fleming, DB John Franklin, DB Tyrin Holloway, OL Jeremi Hall, OL Matt McCants
- Waived: OL Travis Averill, OL Cameron Lee, LB Howard Jones, LB Nyles Morgan
Cincinnati Bengals
- Signed: DT Chris Okoye, C Brand Lundblade, S Tyrice Beverette
- Waived: LB Oni Omoile, TE Scott Orndoff, CB Robenson Therezie
Cleveland Browns
- Signed DB Tigie Sankoh, QB Brogan Roback
Denver Broncos
- Waived: NT Lowell Lotulelei (Lotulelei is retiring, per Nicki Jhabvala of The Athletic, on Twitter)
Detroit Lions
- Signed: WR Deontez Alexander, TE Marcus Lucas, CB Josh Okonye
- Waived: WR Kyle Lewis
- Waived/Injured: TE Brandon Barnes
Houston Texans
- Placed on Reserve-Retired list: K.J. Malone
- Signed: T Kendell Calhoun, DE Nick Thurman
- Waived: WR Montay Crockett
- Waived/failure to disclose physical condition designation: DE Jalen Wilkerson
Indianapolis Colts
- Signed: OT Jared Machorro
- Waived: C Anthony Fabiano
Jacksonville Jaguars
- Signed: TE Zach Conque, LB Manase Hungalu, OL Brandon Smith
- Waived: OL Avery Gennesy
Los Angeles Rams
- Signed: QB Luis Perez
New England Patriots
- Signed: P Corey Bojorquez
- Waived/NFI: WR Darren Andrews
New Orleans Saints
- Signed: OT Michael Ola
- Waived: LB Adam Bighill, OL Daronte Bouldin, S Rickey Jefferson, Bradley Sylve
Oakland Raiders
- Signed: S Dallin Leavitt, LS Drew Scott
Philadelphia Eagles
- Signed: WR/KR Tim Wilson
Pittsburgh Steelers
- Signed: G/T R.J. Prince
Seattle Seahawks
- Signed: TE Clayton Wilson
Washington Redskins
- Signed: C Casey Dunn, LB Vontae Diggs, WR Darvin Kidsy
- Waived: WR Mikah Holder, C Sean Welsh
Panthers Release WR Russell Shepard
It’s officially official. On Monday afternoon, the Panthers announced the release of wide receiver Russell Shepard. 
Shepard signed a three-year deal with the Panthers last year, but his time in Carolina is up after just one season. The Panthers believed that Shepard would build off of his 23 catches for 341 yards and two touchdowns with the Bucs in 2016. Instead, he never really found a place for himself in the Panthers’ offense.
The Panthers recently asked Shepard to accept a pay cut, but he refused. It was something of a no-brainer decision for Shepard as the difference between his severance and expected intake for 2018 is just $900K. The Panthers will now save $2.125MM against the cap with $1.4MM in dead money by releasing him.
With Shepard out of the picture, the Panthers will move forward with Devin Funchess and first-round pick D.J. Moore as their top wide receivers. Veterans Torrey Smith and Jarius Wright are also in the mix, as well as 2017 second-round pick Curtis Samuel.
Shepard joins Dez Bryant, Dontrelle Inman, Eric Decker, and Jeremy Maclin on the free agent wide receiver pile.
Panthers To Cut WR Russell Shepard?
It sounds like Russell Shepard‘s time in Carolina will come to an end. The Panthers asked the wide receiver to take a pay cut and indications are he won’t take one, which likely will lead to his release, David Newton of ESPN.com tweets. 
Shepard signed with the Panthers last offseason after spending the previous four years with the rival Buccaneers. The Panthers were reportedly one of six teams to pursue Shepard last year, but the Panthers won out with a three-year deal worth roughly $10.5MM. After just 17 catches for 202 yards and one touchdown, the Panthers are moving on. The Panthers will save $2.125MM against the cap with $1.4MM in dead money if they release Shepard.
The Panthers didn’t want to give up on Shepard entirely, but he simply wasn’t worth the money after the Panthers acquired veteran Torrey Smith and invested a first-round pick in D.J. Moore.
Last year, the Bills and Lions were among the clubs to express interest in Shepard. The Buccaneers also showed some level of interest in retaining him.
Draft Pick Signings: 5/11/2018
Here are the rest of Friday’s draft-pick signings:
- In addition to signing Marcus Davenport, the Saints also inked Florida State offensive tackle Rick Leonard (Round 4, pick 127), Wisconsin safety Natrell Jamerson (Round 5, pick 164), Boston College cornerback Karmin Moore (Round 6, pick 189), Louisiana Tech running back Boston Scott (Round 6, pick 201), and LSU center Will Clapp (Round 7, pick 245), The Advocate’s Nick Underhill tweets.
- The Cardinals continued to ink their draft picks to deals, signing Fordham running back Chase Edmonds (Round 4, pick 134), cornerback Christian Campbell (Round 6, pick 182), and offensive tackle Korey Cunningham (Round 7, pick 254).
- The Giants followed suit, signing UTEP guard Will Hernandez (Round 2, pick 34), Georgia linebacker Lorenzo Carter (Round 3, pick 66) and Richmond quarterback Kyle Lauletta (Round 4, pick 108).
- The Panthers also inked cornerback Rashaan Gaulden (Round 3, pick 85) and linebacker Andre Smith (Round 7, pick 234).
- The Bills added another signing in Weber State cornerback Taron Johnson (Round 4, pick 121).
- The Bengals were also busy, tabbing cornerback Davontae Harris (Round 5, pick 151), defensive end Andrew Brown (Round 5, pick 158), quarterback Logan Woodside (Round 7, pick 249) and guard Rod Taylor (Round 7, pick 252).
- The 49ers signed their fifth pick so far in the offseason, inking Kansas State defensive back D.J. Reed (Round 5, pick 142).
- The Patriots added a slew of draft picks to the ranks, signing linebacker Ja’Whaun Bentley (Round 5, pick 143), linebacker Christian Sam (Round 6, pick 178), wide receiver Braxton Berrios (Round 6, pick 210), quarterback Danny Etling (Round 7, pick 219), cornerback Keiron Crossen (Round 7, pick 243), and tight end Ryan Izzo (Round 7, pick 250).
C.J. Anderson's Panthers Salary Surfaces
- C.J. Anderson‘s Panthers deal will be worth around $1.7MM this season, with Joe Person of the Charlotte Observer adding that $800K in incentives are available to the longtime Broncos starter. This comes after the Broncos released Anderson well over a month into free agency. The 27-year-old running back would have made $4.5MM in 2018 on his previous contract, one the Dolphins originally designed and one the Broncos shed free of any dead-money charges.