ATLANTA, GA — The NFL approved the sale of the Carolina Panthers to billionaire David Tepper Tuesday during an owners meeting in Atlanta.
Tepper, the founder and president of global hedge fund Appaloosa Management, L.P. and a well-known philanthropist, purchased the team for a record $2.2 billion. He spoke at a news conference this afternoon following the announcement.
Tepper has been a minority owner of the Pittsburgh Steelers since 2009, but had to sell his shares in order to complete the sale. Officials say the transaction is expected to close in July.
