Panthers Officially Reach Deal With David Tepper

The news just broke this morning!

May 15, 2018

© TNS

Updated: The Panthers announced this morning that they've reached a deal with David Tepper for $2.2 billion. Owner Jerry Richardson said in a statement, "I look forward to turning the stewardship of the Panthers over to David Tepper. I have enjoyed getting to know him in this process and am confident that he will provide the organization with great leadership in both its football and community initiatives. I wish David and his family the very best as they enter this exciting new phase of their lives.”

You can read the whole statement here! 

Finally, after months of speculation, we may know who the new owner of the Carolina Panthers will be officially by the end of the day. The current owner, Jerry Richardson, announced he was selling the team in December after allegations of sexual misconduct came out about him. Richardson released this statement with the news of the team's sale.

"I believe that it is time to turn the franchise over to new ownership. Therefore, I will put the team up for sale at the conclusion of this NFL season. We will not begin the sale process, nor will we entertain any inquiries, until the very last game is played. I hope everyone in this organization, both on and off the field, will be firmly focused on just one mission: to play and win the Super Bowl."

There was a lot of interest in the team immediately, but only a few bidders stuck around for the long haul while their bids were considered. It's expected that hedge fund manager David Tepper will buy the team for $2.2 million. That will set a record for the highest sale price for an NFL team, surpassing the $1.4 billion that the Buffalo Bills were sold for in 2014.

Tepper is a minority owner of the Pittsburgh Steelers and is expected to sign the deal today. The deal will still have to be approved next week at the NFL owners meeting in Atlanta before it's a completely done deal. 

The good news is that Tepper is committed to keeping the team in Charlotte. Yay! I know there were so many people worried that the new team owner would take the team to a new city. 

I think the guys from our sister station, WFNZ-AM are excited about the news.

So who is David Tepper? Check out the Charlotte Observer's piece on him below.