May 21, 2018

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

15 May 2018, 05:01 | Joan Schultz

Receiver D.J. Moore makes a reception during Day 1 of the Carolina Panthers’ rookie mini camp on Friday

Receiver D.J. Moore makes a reception during Day 1 of the Carolina Panthers’ rookie mini camp on Friday

"Most likely, a new owner would need much more than $300 million because it would not be easy to find enough minority investors willing to fund the remainder of the purchase given those investors would have no say in how the Panthers are run". He went to college and business school there, then briefly moved across the OH border to do some accounting for a steel company.

Jerry Richardson, the founding owner of the Carolina Panthers, has agreed to sell the team to David A. Tepper, a billionaire hedge fund owner, for a record-setting amount of at least $2.2 billion. Tepper is worth a reported $11 billion and he bought the Panthers for somewhere in between $2.1 and 2.5 billion. Tepper looks set to spend *only* $2.2 billion, a number which is actually on the small side for a team in the wealthiest sports league in North America.... But in the end, given the other National Football League owners needed to approve these new owners, they're set to unsurprisingly accept a bid from someone who is already in the National Football League owners club.

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The Panthers were put up for sale past year after sexual harassment allegations were raised against former owner Jerry Richardson.

Tepper prevailed among a group of bidders that also included Charleston financial services CEO Ben Navarro, steel company CEO Alan Kestenbaum and e-commerce entrepreneur Michael Rubin. A source who knows Tepper has said that if he were to come to Charlotte, "you should assume that (philanthropy) would continue".

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