 Richardson and his family owned about 48% of the team, with the remaining 52% owned by a group of 14 limited partners.Richardson and the other investors paid $206 million for the rights to start the team in 1993.Mike McCormack, a Hall of Fame lineman for the Cleveland Browns and former coach and executive for the Seattle Seahawks, was the Panthers' first team president, presiding in that role from 1994 until his retirement in 1997; McCormack was inducted as the first person in the Carolina Panthers Hall of Honor later that year.