A SC businessman has released a statement wishing the Carolina Panthers "success" moving forward after hedge fund manager David Tepper reportedly agreed to buy the team from founder Jerry Richardson for a record $2.2 billion. But in the end, given the other National Football League owners needed to approve these new owners, they're set to unsurprisingly accept a bid from someone who is already in the National Football League owners club. Tepper founded Appaloosa Management and according to Forbes, Tepper's net worth as of March was $11 billion.
Sherman Financial Group LLC founder, Ben Navarro, and metals/mining investor, Alan Kestenbaum, have also made bids for the Panthers. Once the paperwork is signed, the owners will vote next Tuesday to likely approve. He is also a graduate of the University of Pittsburgh. In September 2009, he purchased a 5% stake in the Pittsburgh Steelers.
In order for Tepper to take ownership of the Panthers, he must sell his stake with the Steelers.More news: PM Modi to commence a visit to Russian Federation on May 21
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Richardson was the first and only majority of the Panthers.
He even got support from New England Patriots owner Robert Kraft who said, "I'm a big fan of his". The question now turns to what kind of an owner Tepper will be, and whether he will put strict guidelines and safeguards in place to ensure the safety and happiness of all employees. The Steelers have won more Super Bowls than any other team and haven't had a losing season since 2003.
Richardson, 81 years old, quickly moved to sell the team shortly after the allegations against him came to light, though he had previously indicated that the team would be sold, and not passed on through his family, when he died.