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Carolina Panthers announce sale agreement with David Tepper

David Tepper will promote his minority stake within the Pittsburgh Steelers after agreeing a deal to shop for the Carolina Panthers.

News 16 May 2018, 18:00 IST

Carolina Panthers announce sale agreement with David Tepper


David Tepper

The sale of the Carolina Panthers to David Tepper has been agreed, the franchise introduced on Wednesday.

Pittsburgh Steelers minority proprietor Tepper, the founder and president of hedge fund Appaloosa Management, has finalised a deal to buy the staff for a reported charge of $2.2billion.

The Panthers mentioned the agreement is matter to NFL approval and is predicted to be finished in July, with the brand new proprietor having to promote his stake within the Steelers.

“I am thrilled to have been selected to be the next owner of the Carolina Panthers,” Tepper stated in a observation. “I’ve discovered an excellent deal concerning the group and the staff during the last a number of months and stay up for changing into a part of the Carolinas.

“I wish to thank [current owner] Jerry Richardson and the opposite Panthers companions for all they’ve carried out to determine and broaden the NFL within the Carolinas. It has been a exceptional 25-year adventure and I promise to construct upon the Panthers’ good fortune at the box and locally.”

Tepper, who could also be a well known philanthropist, is value an estimated $11bn and Richardson thinks he is a smart have compatibility for Carolina.

“I look forward to turning the stewardship of the Panthers over to David Tepper,” Richardson stated.

“I have enjoyed getting to know him in this process and am confident that he will provide the organisation 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.”

The staff was once publish for sale in December after Richardson was once accused of place of job harassment and the use of a racial slur towards an NFL scout in a tale revealed by way of Sports Illustrated.

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