The sale of the Carolina Panthers to hedge fund billionaire David Tepper for an NFL record $2.275 billion is official, it was announced Monday.
Tepper purchased the team from Panthers founder Jerry Richardson, who was fined $2.75 million by the NFL for sexual and racial workplace misconduct on June 28.
"I am thrilled to begin this new era of Carolina Panthers football and am humbled by the overwhelming excitement and support for the team," Tepper said in a statement. "On behalf of the fans and myself, I thank Jerry Richardson for bringing the team to the Carolinas and for entrusting me with its future.