Hedge fund owner expected to purchase Panthers

Report David Tepper wants to keep the Panthers in Charlotte

Report David Tepper wants to keep the Panthers in Charlotte

N.J. Assembly Republican Leader Jon Bramnick on billionaire David Tepper's decision to move out of New Jersey and the need for tax reform in the state.

The Carolina Panthers are about to be sold for a whole lot of money.

That keeps the transaction on track to be approved at the owners meeting in Atlanta next week.

The Carolina Panthers are expected to have a new owner soon. While he has not been the outright owner of one before he does have a stake in one. In 2009, the Pittsburgh native (who now lives in Florida) bought a 5% stake in the Steelers. He became only the first former player since George Halas to become an National Football League owner when he was awarded an expansion franchise in 1993.

Rumors of the Panthers generating a $2.5 billion sale price percolated for months leading up to the sale after the investigation began into current/soon-to-be-former owner Jerry Richardson's misconduct in the workplace. According to Sports Illustrated's L. Jon Wertheim and Viv Bernstein, the Panthers owner paid out settlements to at least four employees. It was then later announced that Richardson would sell the team in light of the allegations.

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The price is not cheap: Tepper will pay $2.2 billion, according to a report from the Charlotte Observer. Also, NFL commissioner Roger Goodell has said the league wants the team to stay in the Queen City. Rivera and Hurney are locked up contractually through 2020, so there's no reason to think Tepper will come in and make changes there unless Carolina goes on a skid the next couple of seasons. And the new owners will try to get the Panthers back to the Super Bowl for their first ever championship ring.

In fact, the finalization of the sale of the Carolina Panthers should not be an issue.

Tepper, though, was long the preferred buyer from inside the NFL.

The Panthers hired Steve Greenberg of NY investment bank Allen & Co.to help with the sale.

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