The Carolina Panthers have been sold to billionaire hedge fund manager David Tepper, the team announced Wednesday.
NFL.com's reports that the sale price will be between $2.2 and $2.3 billion and won't be officially closed until July. The sale of the team needs approval from 3/4 of the league's owners, who are set to meet in Atlanta later this month.
"Bringing the Panthers and the NFL to the Carolinas in 1993 was enormously fulfilling for Rosalind and me and all of our partners," Panthers founder Jerry Richardson, said. "We are deeply grateful for the outpouring of support over the last 25 years.