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David Tepper expected to sign Panthers purchase deal

David Tepper expected to sign Panthers purchase deal
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

Pittsburgh SteelersA minority owner David Tepper is expected to sign the deal Tuesday to buy theA PanthersA and keep them in Carolina, a league source told ESPN's Seth Wickersham and Adam Schefter.



The deal would be expected to be approved at the owners meetings in Atlanta on May 22. The purchase needs to get approval from the NFL financial committee and then three-fourths approval from the 32 owners.



Because Tepper, 60, is a minority owner of the Steelers, he has already passed the league's vetting process. He currently owns 5 percent of the Steelers and would have to sell that interest before completing the Panthers' purchase.



Tepper, the founder of the global hedge fund firm Appaloosa Management who has a net worth of $11 billion according to Forbes, is committed to keeping the team in Charlotte.



The Panthers were put up for sale after the 2017 season following sexual harassment and workplace misconduct allegations against owner Jerry Richardson that were published by Sports Illustrated in December.



On Dec. 17, Sports Illustrated published a report alleging that Richardson sexually harassed multiple women and used a racial slur toward a team scout. The SI report said the Panthers had reached settlements with at least four former employees regarding inappropriate workplace behavior by Richardson.



Richardson, 81, allegedly made verbal comments about women's appearances, inappropriately touched female employees and made advances to women that included asking whether he could shave their legs and for them to give him foot rubs.



Along with the allegation of using a racial slur that led to a settlement with the former scout, SI noted comments made by Richardson about black players' appearances and his threat to discipline players who addressed social issues.



On the evening of Dec. 17, Richardson announced in a public letter that he would sell the team after the season.


Read the complete news article here...


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