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NFL unanimously approves Tepper's $2.2b purchase of Panthers

2 years 4 months 1 week ago Tuesday, May 22 2018 May 22, 2018 May 22, 2018 2:00 PM May 22, 2018 in News
Source: Associated Press
By: Associated Press

ATLANTA (AP) - The NFL has unanimously approved a $2.2 billion deal to sell the Carolina Panthers to the David Tepper.

The league announced the completion of the purchase Tuesday during its spring meeting in Atlanta. It was the first order of business after Tepper was approved by the owners' finance committee during a morning session.

Tepper is paying an NFL-record price to buy the team from Jerry Richardson, the team's founder and only owner since the Panthers entered the league in 1995. Richardson abruptly announced he was selling the team last December after coming under investigation from the league for sexual and racial misconduct in the workplace.

Tepper is the founder and president of global hedge fund Appaloosa Management, with a reported net worth of $11 billion. Already familiar to the league as a minority owner of the Pittsburgh Steelers, his purchase was quickly approved.

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