David Tepper Expected To Sign Deal To Buy Carolina Panthers

David Tepper Expected To Sign Deal To Buy Carolina Panthers

There has been a lot o talk about the Panthers getting a new stadium, and if he would move the team if he didn't get one.

Jason La Canfora of CBS Sports reports that hedge fund manager and Pittsburgh Steelers minority owner David Tepper looks set to buy the team. Tepper founded Appaloosa Management, a hedge fund company based in Miami Beach, Florida, and is worth an estimated $11 billion.

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

The deal, which would keep the team in Carolina, would need approval from 24 of the NFL's 32 owners, and is expected to receive those votes at the NFL Spring League Meeting in Atlanta on May 22, per Schefter and Wickersham.

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Rapoport said Tepper would have to sell his minority stake in the Stellers and get approval by the National Football League owners.

For the first 59 years of his life, David Tepper was rarely too far from his native Pittsburgh.

NFL Network Insider Ian Rapoport reported the sale of the Panthers from Jerry Richardson to Tepper is moving along and a deal could get done Tuesday, per sources informed of the process.

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