David Tepper Completes $2.2 Billion Carolina Panthers Purchase
The Carolina Panthers have announced the sale of the franchise to David Tepper has closed.
Tepper becomes only the second owner in team history. He started work on Monday.
Tepper is the founder and president of global hedge fund Appaloosa Management, L.P. He bought the team from founder Jerry Richardson for $2.2 billion. This is the most ever paid for an NFL franchise.
Richardson put the team up for sale in December after reports of sexual and racial misconduct in the workplace. The league later confirmed these allegations.
Tepper (60) said in a release Monday he’s thrilled to begin a “new era” in Carolina.
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NFL owners approved of the sale to Tepper on May 22 at the spring meetings in Atlanta.
The Panthers also announced Tina Becker, who was appointed as COO by Richardson in December, has resigned.
David Tepper has a net worth estimated by Forbes at $11 billion.
“I am thrilled to begin this new era of Carolina Panthers football and am humbled by the overwhelming excitement and support for the team,” Tepper said in a statement. “…Winning is the most important thing both on the field and in the community, and I am committed to winning a Super Bowl championship together. I look forward to being part of the Panthers’ family and to supporting this flourishing region.”