Published: Wed, May 16, 2018
Sports | By Jonathan Ford

Carolina Panthers Will Reportedly Be Sold For More Than $2 Billion

Carolina Panthers Will Reportedly Be Sold For More Than $2 Billion

A SC businessman has released a statement wishing the Carolina Panthers "success" moving forward after hedge fund manager David Tepper reportedly agreed to buy the team from founder Jerry Richardson for a record $2.2 billion.

Tepper, age 60, has risen to be one of the world's richest hedge-fund managers since he founded Appaloosa Management in 1993.

Tepper will pick up the National Football League team for a record-breaking $2.2 billion, ESPN.com and the Charlotte Observer reported, citing sources.

Sports Illustrated reported accusations of sexual harassment, including inappropriate touching by more than one woman and a racial slur made to a team scout.

Forbes estimated Richardson's net worth at $1 billion last December. Richardson, according to sources, wanted to complete the sale as soon as possible with the allegations hanging over him, and Tepper had the easiest path to complete the transaction. Fixing the brand might take time, but he'll insist the franchise clean up its act immediately.

It has been reported that Tepper plans on keeping the franchise in Charlotte, in comparison to other candidates that proposed a move to SC. In 2009, the Pittsburgh native (who now lives in Florida) bought a 5% stake in the Steelers. Carolina have twice reached the Super Bowl, most recently in 2015, but have never won. That greatly simplifies the process, although Tepper will have to divest himself of his Steelers ownership, much the same way that Jimmy Haslam did when he purchased the Browns.

Tepper's bid wasn't the highest but it was $2.2 billion and that's close enough to the high bids of $2.5 billion that was floated around.

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