Published: Wed, May 16, 2018
Sport | By Wendy Sparks

David Tepper expected to become next Panthers owner

David Tepper expected to become next Panthers owner

ESPN's Adam Schefter and Seth Wickersham report that Pittsburgh Steelers minority owner David Tepper is set to sign the paperwork to buy the Panthers.

Since the announcement, there have been a handful of bidders who have expressed interest in buying the team.

Tepper, who has already submitted much of the required paperwork to the league, is unlikely to face much opposition when the NFL owners on the finance committee review his application before sending it to the full ownership to vote on. The deal would transfer ownership from Jerry Richardson, who put the Panthers up for sale following accusations of sexual misconduct and using racial language at work.

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Tepper is the founder and president of Appaloosa Management, which is a global hedge fund company based in Florida.

CHARLOTTE, N.C. (AP) - The Carolina Panthers are being sold for an NFL-record $2.2 billion. According to Sports Illustrated's L. Jon Wertheim and Viv Bernstein, the Panthers owner paid out settlements to at least four employees.

Forbes listed Tepper's net worth at US$11.4 billion in February of 2017.

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David Tepper is no stranger to owning an National Football League franchise, however.

The Carolina Panthers are expected to have a new owner soon. She said she would be fighting to keep the team in Charlotte.

Tepper is known for his philanthropy. He earned an MBA from Carnegie Mellon University, although it had a different name when he was attending - it's been called the Tepper School of Business ever since the magnate donated $55m to the school in 2004. The NFL has a rule that you can not be an owner of two different franchises. Richardson promised fans at the time the Panthers would win a Super Bowl "within 10 years".

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