Jerry Richardson's Sale of Panthers to David Tepper Could Happen Tuesday

NFL Rumors: David Tepper (Not Diddy) Expected To Become Panthers Owner

Tepper, a hedge fund founder and now a minority owner of the Pittsburgh Steelers, is one of 109 billionaires who own the top 140 sports brands, according to a joint report released in October from money manager UBS and consultancy PricewaterhouseCoopers.

Late a year ago, Carolina Panthers owner Jerry Richardson, announced his decision to sell the team following a Sports Illustrated report which outlined some of Richardson's alleged sexual and racial misconduct toward former employees.

Forbes reports that Tepper has a net worth of $11 billion.

"$2.2 billion I believe is the largest sale price for professional sports franchise in the history of the country, so that solidifies the fact that the Panthers are the best pro sports franchise in the country", Egleston said.

Two things must happen for the sale to become official: Tepper must sell his 5% minority stake in the Steelers he purchased in 2009, said to be worth north of $120m, and he must be approved by three-fourths of National Football League owners at next week's meeting - neither should be an issue as he was vetted when he made the minority purchase.

The sale is expected to be approved in Atlanta on May 22 at the owners meetings.

Michigan State University Reaches Historic $500 Million Settlement in Larry Nassar Case
Under the agreement, $425 million would be paid to current claimants and $75 million would be set aside for any future claims. More than 250 gave statements in court when Nassar was sentenced for sexual assault in January and February.

Hedge fund titan David Tepper is closing in on an agreement to buy the team for a $2.2 billion. In 2012, that earned him a reported $2.2 billion paycheck.

"I have learned a great deal about the community and the team over the past several months and look forward to becoming part of the Carolinas", said Tepper, who was born and raised in Pittsburgh. Tepper grew up near Pittsburgh in a Jewish household, the middle of three children and helped pay his way through college at the University of Pittsburgh by stacking books at a campus library, the Observer reported.

Panthers founder Jerry Richardson had in December had announced his interest to sell the team. That decision came after a report by Sports Illustrated detailing Richardson's alleged misconduct.

Since 2009, he's owned a 5% stake of the Pittsburgh Steelers, an investment he will have to sell in order to buy the Panthers.

Tepper is known for his philanthropy. He may also soon find himself with a lot of money coming back to him - in the form of tax savings - from his purchase of the Panthers for $2.2 billion from Jerry Richardson. The Panthers played their first season in 1995 and have reached two Super Bowls, though they lost both of them.

Related News:

  • Transcripts shed light on Trump Jr.'s meeting with Russian lawyer

    Transcripts shed light on Trump Jr.'s meeting with Russian lawyer

    But the panel released her written responses to a letter that Senate Judiciary Chairman Chuck Grassley sent her previous year . Michael Conaway, R-Texas, but remained peripherally involved, approving subpoenas and other related actions.
    BoE: Mixed messages - Deutsche Bank

    BoE: Mixed messages - Deutsche Bank

    Most economists polled by Reuters expect the BoE to vote 7-2 to keep rates on hold this month and not raise rates until August. The slowdown in the first three months of the year was one of two reasons why the Bank stayed pat.
    Pakistan Behind 26/11 Mumbai Attacks: Nawaz Sharif

    Pakistan Behind 26/11 Mumbai Attacks: Nawaz Sharif

    We must look into it, Sharif told Dawn . "The lack of cooperation by India was the biggest hurdle in the investigation".
  • Ash erupts near Kilauea Volcano, prompts red alert in Hawaii

    Ash erupts near Kilauea Volcano, prompts red alert in Hawaii

    Geological Survey to raise the alert level for aviation to red due to risks ash could blow into aircraft routes and damage jet engines.
    More Protests Along Palestinian Border

    More Protests Along Palestinian Border

    On Monday, American officials marked the opening of the US embassy in Jerusalem , which had been relocated from Tel Aviv. Nikki Haley denied that Monday's deaths had anything to do with the US decision to open its embassy in Jerusalem .
    China sends trade envoy to U.S. , welcomes Trump ZTE comments

    China sends trade envoy to U.S. , welcomes Trump ZTE comments

    A security firm, Kryptowire, disclosed in 2016 that Chinese phones are loaded with software that sends a user's data to Beijing. US President, Donald Trump, on Tuesday said trade negotiations are still underway with China and to "stay tuned".
  • BSF jawan killed, hunt on to track infiltrators on International Border

    BSF jawan killed, hunt on to track infiltrators on International Border

    There was a lull in firing noted along the IB in the past 3 months after intense border skirmishes in January and February. The border along the IB has been witnessing he frequent ceasefire violation by Pakistan since last few months.
    Donald Trump returns to Walter Reed to visit first lady

    Donald Trump returns to Walter Reed to visit first lady

    Trump, who turned 48 last month, had been experiencing a recurring issue with her kidney that her office describes as benign. The Slovenia-born former model underwent an embolization procedure , said her communications director Stephanie Grisham.
    Facebook closes 583 million fake accounts

    Facebook closes 583 million fake accounts

    And today we're releasing numbers in a Community Standards Enforcement Report so that you can judge our performance for yourself. Facebook took action against 2.5 million pieces of content in the first quarter, up 56 per cent over the previous quarter.
  • Iraq election: Shia rivals of PM Abadi 'make gains'

    Iraq election: Shia rivals of PM Abadi 'make gains'

    Nationalist Shia cleric Muqtada al-Sadr is now on course to win the largest number of seats after the Iraqi election . It included full returns from only 10 of the country's 19 provinces, including the provinces of Baghdad and Basra.
    York School budget proposes 0.22 percent tax levy increase

    York School budget proposes 0.22 percent tax levy increase

    Heather Soroka, now serves as vice president of the school board and is seeking a second term on the Board of Education. Voters in the Mamaroneck and Rye Neck school districts will be deciding budgets for the 2018-19 school year Tuesday.
    Swiss Tesla accident: crash may have sparked battery fire

    Swiss Tesla accident: crash may have sparked battery fire

    Tesla said it was "deeply saddened" by the accident and was working with local authorities to establish the cause. It was unknown at the time of the accident whether the driver was operating on the Autopilot feature.


Most liked

Cavaliers fall to Celtics, 107-94, trail East finals 0-2
Although the Williamses reside in Leonard, Texas, the couple became fans and made weekly 60-mile trips to watch Smart him play. Obviously incidental, his shoulder hit me right square in my jaw so just had to go back and make sure everything was fine.

Nikki Bella Reacts to John Cena Professing His Love on Today
The wrestler is pictured attending the Unequaled NBCUniversal Upfront campaign on May 14, 2018 in NY . He is such a sweetheart and I truly love him so much. "I love her.

Fast Growing Mega Black Hole Discovered by Researchers
It would appear as an incredibly bright pin-point star that would nearly wash out all of the stars in the sky'. The studied black hole reportedly draws off light of large amounts thereby outshining the entire galaxy.

Stan Lee levies one billion dollar lawsuit against POW! Entertainment
Lee was himself accused last month of sexual battery and battery after he was sued by massage therapist Maria Carballo. Entertainment, LLC (POW! LLC), which is now owned by Hong Kong-based investment company, Camping International Ltd.

Apple now has 55 self-driving cars in California
In January, Apple increased its self-driving vehicle fleet ninefold to 27 and to 45 by April this year. In May, Apple got permits for 10 more self-driving vehicles, according to Mac Reports .

Great internet debate: Do you hear 'Yanny' or 'Laurel'?
Or so they say, because no matter how much I mess with the audio I can hear only Laurel ... only Laurel . The acoustic frequency associated with Yanny is high , and with Laurel , low .

We now know why NBC made a decision to save Brooklyn Nine-Nine
Samburg's sitcom, " Brooklyn Nine-Nine", has been renewed by NBC for a sixth season after being cancelled by Fox . Although the show was beloved by its fans, it wasn't a big ratings victor for Fox.

Home Depot's 1Q profit overshadowed by same-store sales
The company's distance from 52-week high price is -22.14% and the current price is 9.15% away from 52-week low price. The avg target $204.78 is 7.60% above the last ($190.31) price. (NYSE:HD) rating on Thursday, February 22.

'Last Man Standing' renewed by Fox after being canceled by ABC
We can bring literally 8 million of the most passionate and appreciative fans to a big new network - and a big new Friday night. Also, Last Man Standing is easier for new viewers to follow than Brooklyn Nine-Nine's serialized comedy.

Google Fights Back At Oracle/ACCC Data Investigation
Overall, the surreptitious data usage of Google costs Australian Android users nearly $580 million a year. However, at the time, the search giant assured that they would soon end such practices.

N. Korea Invites 8 S. Korean Reporters to Nuclear Test Site Dismantling
Trump called the action "a very smart and gracious gesture!" on Twitter and told reporters that the process "is very important". The North said it will hold a ceremony at the site next week to allow local and worldwide journalists to witness the efforts.

'Avengers: Infinity War' scores second-biggest opening in China box office history
It was certainly a powerful moment in the film, especially for Peter and Gamora's relationship, which now spans three movies . Despite its huge opening, Infinity War still didn't beat out The Fate of the Furious for No.1 opening weekend in China.

The NBA Draft Lottery is tonight, and the Wolves ... don't care
Ironically, the Cavs are in the lottery thanks to the Brooklyn pick they received in the Irving trade with the Celtics. The selection is most likely going to land at No. 10 and in addition to that, the Sixers own their pick at No. 26.

Donnelly Becomes Second Democrat to Support Gina Haspel to Lead the Central Intelligence Agency
At this point the captain said we were getting the hell out of there, so I have no idea what happened. Her role in the program was addressed several times during her confirmation hearing this week.

Indonesia church bombers included a child as young as 9
Also on Sunday, police said they killed four suspected members of JAD in Cianjur, West Java, and arrested two others. A string of suicide bombings in Indonesia's Surabaya has left 13 dead and dozens injured.