Wednesday, 14 November, 2018

David Tepper Expected To Sign Deal To Buy Carolina Panthers

David Tepper Expected To Sign Deal To Buy Carolina Panthers David Tepper Expected To Sign Deal To Buy Carolina Panthers
Sidney Guerrero | 15 May, 2018, 15:52

It was reported on May 11 that Tepper was the favorite in the bidding process over SC financier Ben Navarro.

Adam Schefter, who is another insider for NFL's ESPN, says the sale would keep the team in North Carolina.

Today our affiliate station in Binghamton, NY reported hedge fund manager David Tepper has finalized a deal between $2.1 and $2.5 billion dollars to become the new owner of Carolina's team.

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Per Kevin Patra of NFL.com, the proposal to buy will be presented to the finance committee at the league's spring owners meeting which takes place May 21-23. It appears the Carolina Panthers are off the market. The purchase needs to get approval from the National Football League financial committee and then three-fourths approval from the 32 owners.

Panthers owner Jerry Richardson put the team up for sale shortly after sexual harassment allegations were published by Sports Illustrated in December.

"Most likely, a new owner would need much more than $300 million because it would not be easy to find enough minority investors willing to fund the remainder of the purchase given those investors would have no say in how the Panthers are run". Tepper founded Appaloosa Management, a hedge fund company based in Miami Beach, Florida, and is worth an estimated $11 billion.

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