Carolina Panthers To Be Sold to New Owner ... Not Diddy

Report David Tepper finalizes deal to buy Panthers from Jerry Richardson

The sale of the Carolina Panthers to hedge fund manager David Tepper is expected to be executed soon. From Diddy and Steph Curry to a bunch of NASCAR team owners, drivers and executives, many were considering bidding.

The deal is expected to be approved at the Owner's Meetings later this month.

This story will be updated. ESPN reporter Adam Schefter also tweeted that the deal would be signed Tuesday.

Panthers owner Jerry Richardson put the team up for sale shortly after sexual harassment allegations were published by Sports Illustrated in December. He's also the only known bidder already vetted by the National Football League, as he is part-owner of his hometown team, the Pittsburgh Steelers.

Tepper would need to sell his five percent share of the Steelers before buying the Panthers, following in the heels of Jimmy Haslam, who bought the Cleveland Browns after being a Steelers owner. A spokesman for Tepper declined to comment.


Tepper, who is the founder of a global hedge fund called Appaloosa Management, is worth $11 billion, according to Forbes.

The 60-year-old Tepper was born in Pittsburgh, attended the University of Pittsburgh and earned an MBA from Carnegie Mellon in 1982 - the business school now dons his name.

Tepper has always been involved in charitable organizations in the different areas where he has planted roots, including Pittsburgh, New Jersey and Miami.

"I have to tell you, for me, I like the people down there".

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