Hedge Fund Titan Tepper Signs $2.3 Billion Deal for Carolina Panthers

David Tepper will purchase the Carolina Panthers for $2.2 billion

David Tepper will purchase the Carolina Panthers for $2.2 billion

The NFL owners will meet next week (May 21-23) and are expected to approve the first sale of a franchise since 2014 (Buffalo). Plus, Tepper can use the sale of his minority stake to help finance this deal, giving him another quick route to revenue.

Navarro said in a written statement Tuesday that he was grateful to have been considered one of the bidders of the Panthers, according to the Charleston Post and Courier.

Tepper's plans on whether the team will remain in Charlotte for the long-term future remain unclear.

Forbes estimated Richardson's net worth at $1 billion last December.

The team's owner, Jerry Richardson, put the franchise up for sale amid allegations of sexual and racial harassment. He is now 5 percent owner of the Pittsburgh franchise and will be required to sell his stake in the Steelers. Here is a bit about Tepper's background as he prepares to take over the ownership of the team.

Richardson spent just $140 million for the rights to the Panthers in 1993. Richardson's investment group paid $206 million for the club, according to Forbes, after he was unanimously awarded a team by the league's owners on October 26, 1993. "It has been a remarkable 25-year journey and I promise to build upon the Panthers' success on the field and in the community".

Born and raised in Pittsburgh, Tepper, 60, is a part owner of the Steelers and founder and president of Appaloosa Management, a global hedge fund based in Miami.

How do you feel about the sale of the Carolina Panthers?

"We're excited about the new owner and look forward to his partnership", said Harlow.

According to the New York Post, Tepper donated to Jeb Bush's campaign, and then gave the Kasich campaign money when he was one of the last remaining opponents to Trump.

Tepper once criticized President Donald Trump before the election, calling him "demented, narcissistic and a scumbag".

Tepper is known for his philanthropy.

"During Sandy, the big Sandy benefit, the big 9-11 benefit, not one dime". "You can't tell me this is a charitable generous person". The owners are scheduled to meet next Tuesday and Wednesday in Atlanta and could vote then to ratify the deal, which would complete the process put in motion past year after Richardson was accused of workplace misconduct.

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