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Tepper set to buy Carolina Panthers

Tepper set to buy Carolina Panthers

The $2.2 billion eclipses the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014.

That keeps the transaction on track to be approved at the owners meeting in Atlanta next week.

On Tuesday, sources told Rapoport that the sale of the team may be completed by the end of the day. But in the end, given the other National Football League owners needed to approve these new owners, they're set to unsurprisingly accept a bid from someone who is already in the National Football League owners club. The NFL is investigating those allegations.

On Dec. 17, Sports Illustrated published a report alleging that Richardson sexually harassed multiple women and used a racial slur toward a team scout.

Sherman Financial Group LLC founder, Ben Navarro, and metals/mining investor, Alan Kestenbaum, have also made bids for the Panthers. He conceded Tuesday that he'd lost the bid. It appears the Carolina Panthers are off the market.

According to ESPN's David Newton, Tepper was in Charlotte last Wednesday to meet with team officials.

As for the Panthers, they are expected to stay in Charlotte.

The Carolina Panthers are going to have a new owner in the coming days/weeks, as CBS Sports NFL Insider Jason La Canfora reported on Friday.

After new broke in December that alleged Carolina Panthers owner Jerry Richardson of sexual misconduct with female employees in the workplace, it was clear that the franchise needed a change. Hedge fund titan David Tepper is closing in on an agreement to buy the team for a $2.2 billion.

Tepper is known for his philanthropy. He attended Peabody High School and earned degrees from Pitt and Carnegie Mellon. Carolina have reached the Super Bowl twice, including in 2015, but have never won the championship.

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