The Carolina Panthers announced Wednesday that an agreement has been reached to sell the franchise to Appaloosa Management hedge fund founder David Tepper.
According to NFL Network's Ian Rapoport, Tepper will purchase the team for a sum between $2.2 billion and $2.3 billion, and NFL owners are expected to approve the sale in Atlanta later this month.
Tepper will be the second owner in Panthers history, as Jerry Richardson founded the franchise and owned it since it began play in 1995.
This article will be updated to provide more information on this story as it becomes available.