The Carolina Panthers on Wednesday officially announced they’ve reached an agreement to sell the franchise to hedge fund billionaire David Tepper.
Reports Tuesday indicated Tepper will pay between $2.2-2.3 billion in cash for the franchise, which Jerry Richardson and his partners purchased for $206 million in 1995, when it was an expansion club
The owners, who favored Tepper as Carolina's next owner because he has the necessary financing and has already been vetted as part of his previous minority purchase of the Pittsburgh Steelers, will vote on the sale at the owners meeting next week in Atlanta.