David Tepper Expected To Sign Deal To Purchase Panthers

Carolina Panthers rookie camp wrap up

Carolina Panthers rookie camp wrap up

Even with some thinking the value of sports teams is about to skyrocket with the addition of potential gambling revenues, the sale of the Panthers is proceeding as planned. From Diddy and Steph Curry to a bunch of NASCAR team owners, drivers and executives, many were considering bidding.

The Carolina Panthers were put up for sale last season, following sexual harassment and racial misconduct allegations against owner Jerry Richardson.

A source confirmed to ESPN that the Panthers will be sold for $2.2 billion. He's also the only known bidder already vetted by the National Football League, as he is part-owner of his hometown team, the Pittsburgh Steelers.

As a minority owner of the Pittsburgh Steelers since 2009, league owners are familiar with Tepper. A spokesman for Tepper declined to comment.

Another bidder, Ben Navarro, who owns a financial investment group, was unable to raise the estimated $2.6 billion he was said to have offered.

Tepper attended Peabody High School and is a graduate Carnegie Mellon University, where the business school is named after him.

The 60-year-old would have to sell his five-percent stake in the Steelers before completing the purchase of the Carolina Panthers. His investment is now worth $122.5 million, based on the current valuation of the Steelers ($2.45 billion, per Forbes).

It was reported on May 11 that Tepper was the favorite in the bidding process over SC financier Ben Navarro.

"I have to tell you, for me, I like the people down there".

Tepper, who visited Charlotte in early April, has said he likes the city.

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