David Tepper, who now owns a minority stake in the Pittsburgh Steelers (he will sell before officially being made the Carolina owner) will buy the Panthers for a whopping figure of approximately $2.2 billion.
The Carolina Panthers were put up for sale last season, following sexual harassment and racial misconduct allegations against owner Jerry Richardson. Tepper is the founder of Appaloosa Management, one of the world's most preeminent hedge funds, and is worth an estimated $11 billion in personal wealth.
Tepper, who is worth $10.2 billion, could get an overall tax deduction of around $1.76 billion, according to Mike Ozanian of Forbes.
The sale price ties Tepper's reported bid for the Panthers and now ranks as the most expensive in National Basketball Association history.
The sale is expected to be approved in Atlanta on May 22 at the owners meetings.
The hedge fund manager and the Panthers did not immediately return calls for comment.
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.
The Carolina Panthers are about to have a new owner. However, Tepper would have to sell his minority ownership stake of the American Football Conference North franchise, per league rules.
What you might not know is that Tepper has also been highly critical of President Donald Trump since before Trump's 2016 election. The NFL has since taken over the investigation of Richardson. That decision came after a report by Sports Illustrated detailing Richardson's alleged misconduct.
The release didn't mention if Tepper plans to move the team or keep it in Charlotte.
Tepper is known for his philanthropy.
A graduate of Carnegie Mellon, where he earned his MBA in 1982, Tepper has been an alumni office's dream, donating over $125 million, including a $67 million donation in 2013, which resulted in the university naming its business school after him. The report said the Panthers had reached settlements with at least four former employees regarding inappropriate workplace behavior by Richardson. I hope everyone in this organization, both on and off the field, will be firmly focused on just one mission: "to play and win the Super Bowl".