Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper
 

The Carolina Panthers are being sold for an NFL-record $2.2 billion.

Hedge fund manager David Tepper has agreed to buy the Panthers from team founder Jerry Richardson, people familiar with the situation said on Tuesday (May 15). The people spoke to The Associated Press on condition of anonymity because the team has not yet announced the sale.

The purchase is subject to a vote at the NFL owners meeting next week in Atlanta.

The price tag is the most ever paid for an NFL franchise, eclipsing the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014.

Born and raised in Pittsburgh, Tepper, 60, is a part owner of the Steelers and founder and president of Appaloosa Management, a global hedge fund based in Miami.

Because he holds a five percent stake in the Steelers, Tepper's finances have already been vetted by the league, meaning it wouldn't take much for NFL owners to approve the sale. However, Tepper would have to sell his minority ownership stake of the Steelers, per league rules.

Forbes listed Tepper's net worth at $11.4 billion in February of 2017.

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Re: Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper
 

I wouldn't give a plug nickel for 'em.

Re: Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper
 

Congrats Panthers, you just got bought by the wolf of wall street.

Re: Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper
 

Re: Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper
 

Junk Bonds, Junk QB, Junk... well y'all know the rest.

Re: Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper
 

Michael Milken always comes to mind.

Buy oh yeah ... Fig Newton -- > junk ;).

Re: Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper
 

Trade all "good" players for a pile of draft picks then tank for two years....CHAMPIONSHIP!!!