Panthers sell for $2.2 billion
The Carolina Panthers are being sold for an NFL-record $2.2 billion.
Hedge fund manager David Tepper has agreed to buy the Panthers from team founder Jerry Richardson, two people familiar with the situation said Tuesday.
The purchase is subject to a vote at the NFL owners meeting next week in Atlanta.
Richardson announced in December he was selling the team amid an NFL investigation into sexual and racial misconduct in the workplace. That decision came after a report by Sports Illustrated detailing Richardson’s alleged misconduct.
The league’s investigation into the allegations is still ongoing.
The price tag is the most ever paid for an NFL franchise, eclipsing the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014.
Tepper’s plans on whether the team will remain in Charlotte for the long-term future remain unclear.
The Panthers are tied to their downtown stadium through the 2018 season because of an agreement with the city. After that a new owner is free to extend the lease to the stadium, build a new stadium or possibly move the team.
Born and raised in Pittsburgh, Tepper, 60, is a part owner of the Steelers and founder and president of Appaloosa Management, a global hedge fund based in Miami.
Cardinals back rookie: Arizona Cardinals rookie wide receiver Christian Kirk took the field for the first time since a report surfaced about his arrest in the months before the team chose him in the second round of the NFL draft.
Coach Steve Wilks said the team knew about the arrest.
“We did our own independent research on it, and we felt very good about the information we received,” Wilks said. “That’s why we moved forward and really drafted him. And as I stated before, we want to bring in great character guys, and I think Christian is one of those guys.”
Kirk, 21, who is from nearby Scottsdale and who played his college ball at Texas A&M, was arrested the night of Feb. 3 outside the Waste Management Phoenix Open golf tournament on charges of disorderly conduct and property damage. According to police, Kirk was with a group that was intoxicated and throwing rocks at cars.
Wilks said he believes the matter will be resolved soon.