Hedge fund owner expected to purchase Panthers

NFL Rumors: David Tepper (Not Diddy) Expected To Become Panthers Owner

Steelers minority owner David Tepper finalizing deal to purchase Panthers

Hedge fund manager David Tepper has agreed to buy the Panthers from team founder Jerry Richardson, two people familiar with the situation said Tuesday.

A source confirmed to ESPN that the Panthers will be sold for $2.2 billion.

The source confirmed that the Panthers will be sold for $2.2 billion, which will set a record for the highest sale price for an National Football League team.

In fact, the finalization of the sale of the Carolina Panthers should not be an issue.

Tepper, who is the founder of Appaloosa Management, bought the team from anywhere between $2.1 and $2.5 billion.

Tepper is a minority owner of the Pittsburgh Steelers. However, Tepper would have to sell his minority ownership stake of the Steelers, per league rules.

Sports Illustrated reported accusations of sexual harassment, including inappropriate touching by more than one woman and a racial slur made to a team scout.

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Tepper bested a group of bidders that included Charleston-based financial advisor Ben Navarro, Fanatics owner Michael Ruben and Bedrock Industries Chairman Alan Kestenbaum. The NFL has since taken over the investigation of Richardson.

Imagine yourself having $2.2 Billion.

The best part about this news, of course, is that the team is staying in Carolina.

The patriarchs of each of those teams have died in recent years or are in failing health.

Despite his anti-Trump stance, the billionaire hedge fund manager is not exactly a clear liberal as he started out supporting former President Barack Obama in 2008, former Massachusetts Gov. Mitt Romney in '12 and former Florida Gov. Jeb Bush in '16.

He donated $3 million over the year to help with hurricane relief in Puerto Rico and Texas. "They remind me of my original hometown, Pittsburgh", Tepper told the Charlotte Observer in April. He would spend time with Goldman Sachs before setting out on his own.

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