National Football League Football Schedule, News, Tickets, Scores, Players, Blogs, Videos, Links and More
More Fan Site Teams:

Hedge fund manager to buy Panthers for 2.2 billion

Hedge fund manager to buy Panthers for 2.2 billion
Published On: Tue, May 15
Jun 15, 2016; Charlotte, NC, USA; Carolina Panthers Luke Kuechly (right) stretches with twelve year old Trey Rice from the Make A Wish program at the practice field at Bank of America Stadium. Mandatory Credit: Jeremy Brevard-USA TODAY Sports

Hedge fund manager David Tepper is expected to sign a deal Tuesday to buy the Carolina Panthers for $2.2 billion in cash.



A source close to the process told the Observer that the deal will be subject to an owners' vote at the next NFL meeting, which runs next Monday through Wednesday in Atlanta.



The $2.2 billion would be a record for an NFL franchise, besting the $1.4 billion price for the Buffalo Bills in 2014. It would also match the $2.2 billion price for the Houston Rockets NBA team.



The Observer and other media outlets reported last weekA that Tepper was set to become the team's new owner, ending a more than five-month search for a buyer for the franchise that began play in 1995. ESPN reporter Adam Schefter alsoA tweetedA that the deal would be signed Tuesday.A 



Panthers owner and founder Jerry Richardson announced plansA to sell the team in December on the same day Sports Illustrated published an explosive report detailing allegations of sexual and racial misconduct against Richardson.



Tepper, 60, isA the richestA of the known bidders who sought to buy the Panthers, with a net worth of $11 billion, according to Forbes. Hea€™s also the only known bidder already vetted by the NFL, as he is part-owner of his hometown team, the Pittsburgh Steelers.



Several key details about Tepper's deal remain unknown, including whether he will have any minority partners, what he plans to do with Bank of America Stadium andA permanent seat license (PSL) owners, whether he will move to Charlotte and what his staffing plans are. A spokesman for Tepper declined to comment.



Tepper prevailed among a group of biddersA that also included Charleston financial services CEO Ben Navarro, steel company CEO Alan Kestenbaum and e-commerce entrepreneur Michael Rubin.


Read the complete news article here...


More Featured News

Reuben Foster is a Stud - Will he be Available to Help the Redskins in 2019?
Published On: Fri, Jan 18
To say theA RedskinsA linebacker play in 2018 was not good may be the understatement of the decade. Guys were playing injured, while others simply couldna€™t get off blocks, stop ru...
Larry Fitzgerald respects Kliff Kingsbury, hasnt decided whether to play for him
Published On: Fri, Jan 18
Larry FitzgeraldA may retire from the Cardinals this offseason, but if he does that wouldna€™t be a reflection on their new coach.Fitzgerald told TMZ that hea€™s never met new Cardi...
Atlanta Falcons franchise marks that could fall in 2019
Published On: Fri, Jan 18
Some franchise records loom large in the imagination, and others do not. Therea€™s Jessie Tugglea€™s virtually untouchable tackles mark,A Michael Turnera€™s massive scoring binge at...
Bills Alexander Likely To Retire After Season
Published On: Fri, Jan 18
This week,A Lorenzo AlexanderA agreed to a new deal with the Bills that will keep him away from free agency in March. It also sounds like this will be his last contract, period.A a€...
Bills Officially Hire Panthers Assistant Heath Farwell As STs Coordinator
Published On: Fri, Jan 18
The Buffalo Bills announced Friday that theya€™ve officially hiredA PanthersA assistant special teams coachA Heath FarwellA as their new special teams coordinator.Joe PersonA report...
Josh Allen: Bills are 'looking to build something special'
Published On: Fri, Jan 18
Veteran linebackerA Lorenzo AlexanderA believes theA Buffalo BillsA have the talent to place themselves in position to do "something special" in 2019.QuarterbackA Josh Allen, who wi...
Exploring top landing spots this offseason for Nick Foles
Published On: Fri, Jan 18
Wea€™ve already examined all the factors that are going to go into the Eaglesa€™ decision about Nick FolesA (see story), but now ita€™s time to figure out where hea€™s going to land...
Jerseys Hats Shirts Sweatshirts