Hedge fund manager David Tepper is expected to sign a deal Tuesday to buy the Carolina Panthers for $2.2 billion in cash.
A source close to the process told the Observer that the deal will be subject to an owners' vote at the next NFL meeting, which runs May 21-23 in Atlanta.
The $2.2 billion would be a record for an NFL franchise, besting the $1.4 billion price for the Buffalo Bills in 2014. It would also match the $2.2 billion price for the Houston Rockets NBA team.
The Observer and other media outlets reported last week that Tepper was set to become the team's new owner, ending a more than five-month search for a buyer for the franchise that began play in 1995.