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David Tepper close to agreeing $2.2 bn deal for Carolina Panthers

16 May 2018

David Tepper will be the new majority owner of the Carolina Panthers after agreeing to pay a record $2.2 billion for the NFL franchise, according to the NFL Network, which is reporting the deal being completed on Tuesday. If the deal goes through and is approved, David Tepper, who has a net worth of $11 billion, will become the second-richest owner in the National Football League, behind only Seattle's Paul Allen who has a net worth of $22 billion.

As for the Panthers, they are expected to stay in Charlotte.

Carolina's soon-to-be owner David Tepper is not a big fan of President Trump, nor is he shy about making his opinion known.

ESPN's report can be found here. The hedge fund has earned Tepper billions, with Forbes estimating his net worth at more than $11 billion.

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Richardson has owned the team ever since its inception back in 1995.

On Dec. 17, Sports Illustrated published a report alleging that Richardson sexually harassed multiple women and used a racial slur toward a team scout. As a minority owner of the Pittsburgh Steelers since 2009, league owners are familiar with Tepper. The N.F.L. continues to investigate those allegations. For his own 50th, he threw himself a little get-together at the Mandarin Oriental, during which he danced onstage with Ellen DeGeneres and sang "All I Wanna Do" and "If It Makes You Happy" with Sheryl Crow. Will he keep the team in Charlotte?

Tepper is known for his philanthropy. He donated $55m to Carnegie Mellon University's business school in 2013.

Richardson spent just $140 million for the rights to the Panthers in 1993. The NFL has a rule that you can not be an owner of two different franchises.

David Tepper close to agreeing $2.2 bn deal for Carolina Panthers