Deal to purchase Carolina Panthers expected to be signed on Tuesday

Grant Boone
May 15, 2018

Tepper is now a minority owner of the Pittsburgh Steelers, so for this deal to go through, Tepper will have to sell his stake in the Steelers.

Interestingly, Tepper looks set to spend *only* $2.2 billion, a number which is actually on the small side for a team in the wealthiest sports league in North America.

The deal would have to be approved at the owners meetings in Atlanta in May.

Tepper, who is the founder of Appaloosa Management, is worth an estimated $11 billion.

In order for the sale to become official, three-fourths of National Football League team owners (24) must approve the team's purchase.

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The Carolina Panthers appear to be on the verge of finding a new owner.

According to ESPN's David Newton, Tepper was in Charlotte last Wednesday to meet with team officials.

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.

Tepper attended Peabody High School and is a graduate Carnegie Mellon University, where the business school is named after him.

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