The National Football League is set to make a major decision at its July 20 meeting, as owners are expected to vote on the approval of the sale of the Carolina Panthers to hedge fund manager David Tepper. According to an Associated Press source, the league’s 32 owners are expected to approve the sale, which would make Tepper the first non-NFL owner to purchase an NFL franchise since 1999.
The sale of the Panthers was announced in May, when current owner Jerry Richardson agreed to sell the team to Tepper for an estimated $2.2 billion. The sale is subject to approval by the NFL’s owners, and it appears that approval is all but certain.
Tepper is a billionaire hedge fund manager who has been a minority owner of the Pittsburgh Steelers since 2009. He is also a minority owner of the Pittsburgh Penguins hockey team. Tepper is known for his philanthropy and has donated millions of dollars to various charities and causes.
The sale of the Panthers is expected to be finalized on July 21, following the expected approval by the NFL’s owners. Tepper will become the first non-NFL owner to purchase an NFL franchise since 1999, when Microsoft co-founder Paul Allen bought the Seattle Seahawks.
The sale of the Panthers is a major move for the NFL, as it marks the first time in nearly two decades that an outsider has purchased a team. It also marks a new era for the Panthers, as Tepper is expected to bring a fresh approach to the team’s operations and management.
Tepper’s purchase of the Panthers is also notable for its size, as it is one of the largest sales in NFL history. The $2.2 billion price tag is more than double what Richardson paid for the team in 1993, and it is also more than double what Stan Kroenke paid for the Los Angeles Rams in 2016.
The NFL’s owners are expected to vote on the approval of Tepper’s purchase of the Panthers at their July 20 meeting. If approved, Tepper will become the first non-NFL owner to purchase an NFL franchise since 1999, and he will usher in a new era for the Panthers franchise.
