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David Tepper finalizes deal to buy Panthers, report says

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David Tepper finalizes deal to buy Panthers, report says

David Tepper, who now owns a minority stake in the Pittsburgh Steelers (he will sell before officially being made the Carolina owner) will buy the Panthers for a whopping figure of approximately $2.2 billion.

According to ESPN, Tepper is expected to sign the deal today and he will be keeping the team in Charlotte, North Carolina.

Since he's already a minority owner, he's been vetted by the league and would like be voted on by the owners at the Spring League meetings in Atlanta May 21-23.

Tepper visited Charlotte in early April to take a tour of Bank of America Stadium. "You can't tell me this is a charitable, giving person".

The bidding process for the Panthers dragged on longer than many expected, with other bidders including Ben Navarro, the chief executive of Sherman Financial Group, and Alan Kestenbaum, the chief executive of a mining and metals companies. The announcement came shortly after an article in Sports Illustrated linked him to allegations of sexual harassment.

Carolina's soon-to-be owner David Tepper is not a big fan of President Trump, nor is he shy about making his opinion known.

The $2.2 billion eclipses the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014. Tepper donated $125 million to Carnegie Mellon University's Business school, now called the Tepper School of Business. The purchase price was estimated to be between $2.1 and $2.5 billion, although Tepper will be required to sell his stake in the Steelers. "Owning your favorite football team?" Michael Rubin, Fanatics owner; Alan Kestenbaum, chairman of Bedrock Industries LP; and Joseph Tsai, Brooklyn Nets majority owner, were also reported to be interested in becoming primary owners of the franchise.

It is unclear at this time whether Tepper will be the sole owner or have minority owners.

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