CHARLOTTE, N.C. — The Carolina Panthers are off the market.
The Panthers announced Wednesday they have signed a “definitive agreement” to sell the team to David Tepper, the founder and president of global hedge fund Appaloosa Management.
The deal is subject to NFL approval.
League owners will meet next week in Atlanta, where they are expected to vote on the purchase. Since Tepper already has been vetted by the league as a minority owner of the Pittsburgh Steelers, the approval process is not expected to run into any snags.
The transaction is expected to close in July, the team announced.