Jerry Richardson turned down $1.25 billion offer for Panthers, according to report

Streeter Lecka

His team might not be good, but Richardson was loyal to the Carolinas.

Jerry Richardson reportedly rejected a $1.25 billion offer for the Carolina Panthers from a Los Angeles consortium last year, according to WFNZ's Brett Jensen. The offer was more than $200 million in excess of valuation estimates given by Forbes.

News of Los Angeles' interest in the Panthers arose last year when discussions began regarding stadium funding in Charlotte for renovations. It was revealed at that time that then-mayor of Los Angeles Antonio Villaraigosa appealed for the Panthers to relocate during the Democratic National Convention in 2012.

Richardson has remained firm on keeping the Panthers in Charlotte long-term, already outlining a succession play for the organization. This involves the team being sold three-years after his death and it's assumed Richardson will establish a short list of interested buyers who will keep the Panthers in the Carolinas.

The organization and city continue to work on a long-term funding agreement that would use money raised from a food and beverage tax to help fund renovations to Bank of America Stadium.

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