David Tepper Expected To Sign Deal To Purchase Panthers

David Tepper Expected To Sign Deal To Purchase Panthers

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

Bank of America Stadium in Charlotte, North Carolina; home facility and headquarters of the Carolina Panthers of the NFL.

The next step for the billionaire investor is to sell his minority stake in the Steelers and get approved by National Football League owners.

Billionaire hedge fund manager David Tepper is expected to sign a deal and complete the purchase for the Carolina Panthers, reports ESPN.com's Adam Schefter and Seth Wickersham.

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The Panthers have been for sale since December when Owner Jerry Richardson was accused of sexual misconduct and agreed to put up the team for sale.

The deal would be expected to be approved at the owners meetings in Atlanta on May 22.

The Charlotte Observer reported that Tepper is the richest of the known bidders who sought to buy the Panthers and reportedly has a net worth of $11 billion. The purchase has to get the approval from the National Football League financial committee and then three-fourths approval from the 32 team owners.

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