Billionaire hedge fund manager David Tepper is expected to sign a deal and complete the purchase for the Carolina Panthers, reports ESPN.com's Adam Schefter and Seth Wickersham.
According to the report, Tepper is expected to keep the team in Carolina. The sale of the team needs approval from 3/4 of the league's owners, who are set to meet in Atlanta on May 22.
Tepper, who also is a Pittsburgh Steelers minority owner, founded the global firm Appaloosa Management. According to Forbes, Tepper is worth $11 billion and the Panthers are worth $2.3 billion.