NFL's Panthers to be sold to Tepper

NFL's Panthers to be sold to Tepper

According to NFL Network's Ian Rapoport, the sale of the Carolina Panthers to Florida hedge fund manager David Tepper "is moving along as all sides have hoped".

Over the next 48 hours, Richardson declared his intention to sell the Panthers, removed himself from operational control and elevated Tina Becker, who had been executive director of the owner's office, to chief operating officer.

Per Kevin Patra of NFL.com, the proposal to buy will be presented to the finance committee at the league's spring owners meeting which takes place May 21-23. According to Forbes, Tepper is worth $11 billion and the Panthers are worth $2.3 billion. After months of record-setting bidding, David Tepper reportedly reached an agreement to purchase the Panthers.

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Tepper is also a part-owner of his hometown team, the Pittsburgh Steelers, so he has already been vetted by the National Football League, according to the Observer.

Panthers owner Jerry Richardson put the team up for sale shortly after sexual harassment allegations were published by Sports Illustrated in December.

The approval should also move fairly quickly, another reason that Richardson wanted Tepper.

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