David Tepper To Buy Carolina Panthers

Aubrey Yates
May 16, 2018

The hedge fund has earned Tepper billions, with Forbes estimating his net worth at more than $11 billion.

The last National Football League team sold-the Buffalo Bills-went for "at least" an NFL-record-tying $1.1 billion in 2014, according to Chris Isidore of CNN Money.

The deal would be expected to be approved at the owners meetings in Atlanta on May 22. Recently, when the owners of the Pittsburgh Steelers indicated they were willing to sell a stake in the team, he seized the opportunity with childlike enthusiasm. Tepper would need three-fourths of the owners vote to make it official.

Lawyers were still going through the final points of the sale yesterday in Charlotte, and no speed bumps are expected in the deal.

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NFL Network's Ian Rapoport reports new Panthers owner David Tepper is "committed to keeping the team in Charlotte".

On Dec. 17, Sports Illustrated published a report alleging that Richardson sexually harassed multiple women and used a racial slur toward a team scout. What will he do with the 13-foot tall Jerry Richardson statue?

Tepper bested a group of bidders that included Charleston-based financial advisor Ben Navarro, Fanatics owner Michael Ruben and Bedrock Industries Chairman Alan Kestenbaum. He is also a graduate of the University of Pittsburgh.

Richardson, 81 years old, quickly moved to sell the team shortly after the allegations against him came to light, though he had previously indicated that the team would be sold, and not passed on through his family, when he died. And while the fans of the team should be happy that the new ownership plans to keep the Panthers in Charlotte, the organization itself is quite nervous. He would spend time with Goldman Sachs before setting out on his own.

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