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

SmashMouth · 05-15-2018, 05:28 PM

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.

read more on NOLA

saintfan · 05-15-2018, 11:30 PM

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

neugey · 05-16-2018, 08:16 AM

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

jeanpierre · 05-16-2018, 08:57 AM

RailBoss · 05-16-2018, 10:44 AM

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

K Major · 05-16-2018, 11:57 AM

Originally Posted by RailBoss

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

Michael Milken always comes to mind.

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

.

vpheughan · 05-16-2018, 02:55 PM

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

05-15-2018, 05:28 PM	#1
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 38,125 Blog Entries: 29	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. read more on NOLA

05-15-2018, 11:30 PM	#2
saintfan Donated Plasma Join Date: Jul 2002 Location: San Francisco, CA Posts: 18,556 Blog Entries: 5	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. SmashMouth likes this.

05-16-2018, 08:16 AM	#3
neugey Hu Dat! Join Date: Dec 2004 Posts: 6,697 Blog Entries: 13	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.

05-16-2018, 08:57 AM	#4
jeanpierre Site Donor 2018 Join Date: Mar 2008 Location: Thibodaux Posts: 43,543 Blog Entries: 39	Re: Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper Twitter

05-16-2018, 10:44 AM	#5
RailBoss 5000 POSTS! + Join Date: Dec 2004 Location: South Of The Mason Dixon Line Posts: 7,113	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.

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05-16-2018, 11:57 AM	#6
K Major Site Donor 2019 Join Date: Jan 2013 Location: Bedford, TX Posts: 24,619 Blog Entries: 3	Re: Carolina Panthers to be sold for record $2.2 billion to hedge fund manager David Tepper Originally Posted by RailBoss Junk Bonds, Junk QB, Junk... well y'all know the rest. Michael Milken always comes to mind. Buy oh yeah ... Fig Newton -- > junk .

05-16-2018, 02:55 PM	#7
vpheughan 1000 Posts + Join Date: Aug 2007 Posts: 4,520	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!!!
vpheughan 1000 Posts + Join Date: Aug 2007 Posts: 4,520