On Tuesday, David Tepper, the Pittsburgh Steelers minority owner has finalised a deal to buy the Carolina Panthers and keep the team in Carolina; a source informed Adam Schefter and Seth Wickersham from the ESPN network.
A source said that Tepper would buy the Panthers for $2.2 billion. This is the highest sale price till date for any of the NFL team, after the Buffalo Bills being sold for $1.4 billion in the year 2014. Besides, the Houston Rockets from the NBA were sold at the sale price of $2.2 billion in the year 2017.
The Charlotte Observer first reported the news of the Panthers’ sale price.
The deal is expected to get an approval at the next owners meeting which will be held in Atlanta on May 22. The purchase of the Panthers requires approval from the league’s finance committee. Later, three-fourths approval will be required for the NFL owners.
According to Forbes, Tepper holds a net worth of $11 billion and wants to keep the Panthers in Charlotte. Going by the NFL rules, Tepper will first have to put up about 30% selling price.
Tepper has passed through the NF:’s vetting process. He is presently 5 percent owner of the Steelers and may like to sell that interest before the Panthers purchase is completed.
Panthers’ was put up for sale in December last year after the team’s owner Jerry Richardson was accused of sexual harassment and misconduct at workplace allegations. Sports Illustrated published an exclusive report about the allegations in December.
Richardson has now finally decided to sell the team to Tepper is because Teppers reportedly plans on keeping the Panthers in the Charlottes and also because his approval to be the team owner will work out much faster and smoother than compared to other candidates.
