The Carolina Panthers officially announced Wednesday morning's agreement to sell the team to billionaire hedge fund manager David Tepper.
The deal was closed on Tuesday morning by the Observer. While the organization's press release did not include financial details, one observer close to the negotiations said that Tepper has agreed to pay $ 2.2 billion to the team.
"I'm thrilled to have been selected to be the next owner of the Carolina Panthers," Tepper said in a statement. "I've learned a lot about the community and the team over the past few months and I'm looking forward to becoming part of the Carolinas."
"I want to thank Jerry Richardson and the other Panthers partners for everything they've done, to establish and develop the NFL in the Carolinas. It was a remarkable 25-year journey and I promise to build on the success of the Panthers on the field and in the community. "
He has not commented on the allegations made by him
In a statement released by the team, Richardson said, "Bringing the Panthers and the NFL's Carolinas in 1993 were hugely fulfilling for Rosalind (his wife) and myself and all our partners.
"We are deeply grateful for the support we have received over the past 25 years, and you have taken the Panthers into your hearts and you are part of this warm and supportive community and would like to thank all of our former and current players, coaches and staff for their hard work Thanking work, the Panthers have been a great success both in the field and in the community. "
Richardson's statement went on to show confidence in Tepper's leadership of the organization in" both their football – as well as community initiatives ".
Tepper has yet to be approved by 24 of the 32 NFL owners at the League Meetings in Atlanta next week. As a minority partner of the Steelers (he must now sell his shares), Tepper has already been audited by the league and the approval process is likely to run smoothly.
The sale will be official in July.