Carolina Panthers officially announce sale to hedge fund magnate David Tepper

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The have a new owner. The team announced Wednesday that Jerry Richardson has sold the Panthers to hedge fund magnate and minority owner David Tepper. Panthers reach sales agreement with David Tepper Full Story Carolina Panthers (@Panthers) The for the sale is somewhere between $2.2 billion and $2.3 billion. (It is believed that Tepper, who has an estimated net worth of around $11 billion and manages $17 billion in a sets for Appaloosa Management, one of the world's most preeminent hedge funds, is paying cash for the franchise.) The sale is expected to be approved at the next owner's meeting later this month (May 22-23) in Atlanta, but will not be officially closed until July, per several reports. Sources: The sale of the Carolina from owner Jerry Wayne Chrebet Jersey Richardson to hedge fund manager David Tepper is now agreed to and final for a price of between $2.2B and $2.3B. Tepper is expected to be approved by the NFL owners in late May in Atlanta. Ian Rapoport (@RapSheet) Jerry Richardson officially has agreed to sell the Carolina Panthers to David Tepper. The closing wont be until July. League approval and legal paperwork is still required. But Richardson and Tepper now officially have their deal in place. Adam Schefter (@AdamSchefter) Richardson released the following statement via the team's website:"Bringing the Panthers and the NFL to the Carolinas in 1993 was enormously fulfilling for Rosalind and me and all of our partners. We are deeply grateful for the outpouring of support over the last 25 years. You have taken the Panthers into your hearts and made them part of this warm and supportive community. We want to thank all of our past and present Sheldrick Redwine Jersey players, coaches and staff for their hard work in making the Panthers a great succe s both on the field and in the community. The personal relationships we have enjoyed have been very meaningful to us."I look forward to turning the stewardship of the Panthers over to David Tepper. I have enjoyed getting to know him in this proce s 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."As a minority owner of the Steelers, Tepper has already been vetted by the league and so does not have to go through the same vetting proce s another purchaser would have been subjected to. It's likely that this gave him an advantage over other bidders in the proce s. He released the following statement:"I am thrilled to have been selected to be the next owner of the Carolina Panthers. I have learned a great deal about the community and the team over the past several months and look forward to becoming part of the Carolinas. I want to thank Jerry Richardson and the other Panthers partners for all they have done to establish and develop the NFL in the Carolinas. It has been a remarkable 25-year journey and I promise to build upon the Panthers' succe s on the field and in the community."The Panthers were Joe Klecko Jersey put up for sale in the wake of the investigation into . Shortly into Richardson's behavior, . Our Jason La Canfora, , joined the Pick Six Podcast ( | for your daily dose of ) and said Tepper GM Marty Hurney and coach Ron Rivera and is "incredibly comfortable" with both of them, having gotten good reports from Steelers bra s on the GM/coach. As such, no changes to the front office or coaching staff are expected to occur prior to the 2018 season.
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