A stake in Panthers ownership will be on the market, as per terms of the will of owner Jerry Richardson’s late son Jon.
According to Rick Rothacker of the Charlotte Observer, Jon Richardson’s will stated that he wanted his share of the team sold after his death. Jon Richardson died in July after a long battle with cancer.
The younger Richardson held approximately 7 percent of the family shares, in a structure in which the family holds 47 percent of the team.
The rest is divided up among a group of area partners.
Jon Richardson served as president of Bank of America Stadium, working alongside his brother Mark before Jerry Richardson fired the pair of them in 2009.
The will which called for the sale of his shares was signed in 2006. The team did not comment on the report.
Jerry Richardson, 77, has similar provisions in his own will, saying the tax burden on his family would be too great to keep it in the family after his death.
That came up during a recent negotiation with the city for public money to refurbish the stadium, in exchange for a short-term tether to the Charlotte market.