David Tepper to purchase Carolina Panthers in $2.2bn deal
According to ESPN, David Tepper, a leading hedge fund manager and prominent figure on Forbes’ Billionaires List with a net worth of $11bn, is set to purchase NFL team Carolina Panthers in a $2.2bn deal.
The deal is expected to be discussed during the Panthers owners meeting in Atlanta on 22 May, with the overwhelming thought being that the offer will be accepted due to the generous valuation.
If successful, the acquisition will set a new record in the way of NFL team sales, breaking the current record held by Buffalo Bills who were sold for a fee of $1.4bn in 2014.
Tepper currently holds a minority 5% stake in fellow American football team Pittsburgh Steelers – something that will not prevent him from completing the acquisition.
The announcement brings a level of clarity to the future of the Carolina Panthers, with the club having gone up for sale at the end of the 2017 NFL season following a series of scandals surrounding owner Jerry Richardson.
It looks likely that Tepper will pip any competitors to the post, with Sherman Financial Group Founder Ben Navarro having been the other favorite to purchase the Panthers.