Carolina Panthers OK team sale to billionaire David Tepper

Ruben Hill
May 17, 2018

With former Pittsburgh minority owner David Tepper having purchased the Carolina Panthers, there will another team hoping to copy the Steelers style when he is officially confirmed as the owner at a league meeting on May 22.

Tepper was right. First came the bailout, then the stocks rose from the dead, leaving Tepper's company with a $7 billion payday.

According to The Associated Press, the team is being sold for an NFL-record $2.2 billion, eclipsing the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014.

Shortly after putting the team on the market, Richardson ceded day-to-day control of the team to chief operating officer Tina Becker.It is unclear if Becker, who has not spoken to reporters since, will have a role with the team after Tepper takes over.

Now Tepper is worth $11 billion, a big chunk of that from his bet on Bank of America stock.

"David Tepper has been a good partner in the Pittsburgh Steelers ownership group since 2009", Steelers President Art Rooney II said in a statement today. You have taken the Panthers into your hearts and made them part of this warm and supportive community.

NFL Commissioner Roger Goodell said he would prefer to keep the team in Charlotte where it has been successful. "We want to thank all of our past and present players, coaches and staff for their hard work in making the Panthers a great success both on the field and in the community". The deal is subject to approval by the NFL. "The personal relationships we have enjoyed have been very meaningful to us", Richardson said in a statement.

"I look forward to turning the stewardship of the Panthers over to David Tepper", Richardson said.

The Panthers were up for sale because of allegations of workplace sexual harassment against current owner Jerry Richardson.

Former owner Jerry Richardson put the team up for sale at the end of a year ago following allegations of sexual harassment and racial misconduct.

The team, owned since its inception in 1993 by former National Football League player and Hardee's fast food restaurant franchisee Jerry Richardson Sr., in January retained Proskauer Rose chairman Joseph Leccese and William "Billy" Moore of leading North Carolina firm Moore & Van Allen to handle a proposed sale.

Other reports by Click Lancashire

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