Carolina Panthers Sold To New Owner For More Than $2 Billion

Carolina Panthers Sold To New Owner For More Than $2 Billion

The Carolina Panthers are being sold for an NFL-record $2.2 billion. However, Tepper would have to sell his minority ownership stake of the Steelers, per league rules.

With a net worth reported at north of $11 billion, Tepper's 2016 decision to move his Appaloosa Management to Miami prompted one state official to warn lawmakers of an income tax hit for the Garden State. After being vetted, however, the sale is assumed to proceed without hitches.

In fact, the finalization of the sale of the Carolina Panthers should not be an issue. In 2012, that earned him a reported $2.2 billion paycheck.

The latest SI story that placed a more human touch on the allegations has put the league in a position where it likely has to respond with some action. Richardson's investment group paid $206 million for the club, according to Forbes, after he was unanimously awarded a team by the league's owners on October 26, 1993.

Richardson was initially seeking at least $3 billion for his team, but trimmed his expectations when no potential buyers emerged at that price.

After allegations arose that current owner, Jerry Richardson, sexually and racially harassed people within the organization, the team was put up for sale.

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Some of the most visible owners in the league have given handsomely to support Trump - eight donated $7.25 million to his inauguration, according to the Daily Beast, including New York Jets owner Woody Johnson, who Trump appointed as the USA ambassador to Britain, New England Patriots owner Robert Kraft and Dallas Cowboys owner Jerry Jones.

The Carolina Panthers will reportedly get a new owner Tuesday, with a sale price that's double the league records. According to Sports Illustrated's L. Jon Wertheim and Viv Bernstein, the Panthers owner paid out settlements to at least four employees.

Ben Navarro, the founder of Charleston, South Carolina-based Sherman Financial Group LLC, was considered with Tepper to be the other top candidate to get Richardson's recommendation.

The patriarchs of each of those teams have died in recent years or are in failing health.

Tepper arguably is one of the greatest hedge fund managers of this generation. Tepper gave away slightly less than $1.2 million worth gift cards (nearly 12,0000 cards) to victims of Hurricane Sandy. Early in his career, he worked as a credit analyst at Goldman Sachs.

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