The stakes may have been just a bit too high, even for a billionaire like Michael Rubin. The bidding war for the Carolina Panthers reached $2.5 billion, which is a record for a U.S. pro sports franchise. And Bloomberg is reporting that steep climb prompted Rubin to step back.

Rubin, an internet entrepreneur and owner of the Conshohocken, Pa.-based sports-merchandise company, was identified last week as having joined the bidding., writes Jeff Blumenthal in the Philadelphia Business Journal.

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As per NFL rules, Rubin would have had to sell his stake in the 76ers and Devils if he were to buy the Panthers. A Rubin spokesman declined to comment to Bloomberg.

Rubin, 45, sold his previous venture, GSI Commerce, a provider of e-commerce and interactive marketing services, to eBay in 2011 for $2.4 billion. He quickly spent $500 million to buy back the three e-commerce retailer portions of the business that eBay did not want: Fanatics; flash sales site Rue La La; and members-only service ShopRunner.

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