David Tepper buying Carolina Panthers for record-setting price of $2.2B


Houston Rockets, NBA, $2.2 billion: Casino and restaurant magnate Tilman Fertitta paid $2.2 billion to buy the Rockets from previous owner Leslie Alexander in a deal that was completed in September 2017. Tepper appears to have Republican leanings - he gave money to the campaigns of Jeb Bush and John Kasich in the primaries - but voted in the general election for Hillary Clinton, according to The Street.

The sale comes just before the league's owners meet next week in Atlanta.

Tepper arguably is one of the greatest hedge fund managers of this generation.

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

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The sale will also bring an end to Richardson's ownership of the team he brought to North Carolina. Several owners did own stakes in fantasy sports site DraftKings. COO Tina Becker has been running the day-to-day operations of the team since December when an explosive Sports Illustrated report detailed multiple allegations of workplace misconduct from former employees.

A few other bits about Tepper gleaned from the New York Magazine feature: He bought a mansion in the Hamptons that had been owned by the ex-wife of the man who passed him over for a partnership at Goldman.

Since the announcement, there have been a handful of bidders who have expressed interest in buying the team.

The $2.2 billion sale marks a record for a franchise sale in the NFL. This is a strong market for the league, and the stadium recently has undergone about $87 million in upgrades. Rivera and Hurney are locked up contractually through 2020, so there's no reason to think Tepper will come in and make changes there unless Carolina goes on a skid the next couple of seasons. According to a 2012 article in Business Insider, Tepper could do multiplication and complex addition at the age of 4.

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"The guy sitting on top with the largest wallet is probably the one we wanted who will hopefully be making decisions with the long game in mind", he said.

The Charlotte Observer first reported the Panthers' sale price. Seeing that David Tepper is well-known within the National Football League realm of ownership.

The Panthers hired Steve Greenberg of NY investment bank Allen & Co.to help with the sale.

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