NFL: Record amount! Sale of the Carolina Panthers has been finalized

The sale of the Carolina Panthers to David Tepper is almost official. The franchise announced an agreement with the hedge fund manager on Wednesday. This only leaves one hurdle to overcome.

Ian Rapoport of the NFL Network reports that the sales price amounts to between 2.2 and 2.3 billion US dollars.

The final hurdle to the acquisition by Tepper, who is already a minority shareholder in the Pittsburgh Steelers, is the approval of the other NFL owners. This will take place at a meeting in Atlanta/Georgia at the end of May and is considered formal. The entire transaction is expected to be completed in July.

“Bringing the Panthers and the NFL to Carolina in 1993 was tremendously fulfilling for Rosalind and me and all our partners,” said the previous Panther owner and founder, Jerry Richardson, in a statement. “We are deeply grateful for the support of the last 25 years. They have taken the Panthers into their hearts and made them part of this warm and supportive society. We want to thank all our former and current players, coaches and the coaching star for their hard work to make the Panthers a great success – both on the field and in society. The personal relationships we enjoyed meant a lot to us.”

David Tepper also commented on the acquisition: “I am delighted that I have been chosen as the next owner of the Carolina Panthers. I have learned a lot about the company and this team over the last few months and look forward to becoming a part of the Carolinas. I would like to thank Jerry Richardson and the Panthers’ other partners for everything they have done to establish and develop the NFL in the Carolinas. It was a remarkable 25-year journey and I promise to build on the Panthers’ success on the square and in society.”

Tepper will be the second owner after Richardson of the Carolina Panthers, who have been playing in the NFL since 1995. The sale is the first of an NFL franchise since Terry and Kim Pegula took over the Buffalo Bills in 2014 and the highest endowed sale of any US sports franchise.