Jerry Richardson, the founding owner of the Carolina Panthers, has agreed to sell the team to David A. Tepper, a billionaire hedge fund owner, for a record-setting amount of at least $2.2 billion. The sale price was confirmed by two people with knowledge of the deal. The sale, which must be approved by at least three-quarters of the N.F.L.’s owners, comes five months after Richardson said that he would sell the team. Advised by Steve Greenberg of Allen & Co., Richardson initially sought at least $3 billion for his team, but trimmed his expectations when no potential buyers emerged at that price. 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.

Source: New York Times May 15, 2018 12:56 UTC