'Definitive agreement' signed to sell Panthers to David Tepper

It's official: David Tepper named new owner of Carolina Panthers

Though I am sorry he will be leaving us, I am excited for David to become the new owner of the Carolina Panthers.

"I am thrilled to have been selected to be the next owner of the Carolina Panthers", Temper, founder and president of global hedge fund Appaloosa Management, L.P. said in a statement.

Tepper still has to be approved by the NFL owners during the Spring League Meeting in Atlanta on May 21-23, but that's expected to be a mere formality.

The Panthers, who were put up for sale following allegations of workplace sexual harassment by the former owner Jerry Richardson - are reportedly being sold to a person who has previously run offices steeped in an operating ethos of toxic masculinity.

The team, owned since its inception in 1993 by former National Football League player and Hardee's fast food restaurant franchisee Jerry Richardson Sr., in January retained Proskauer Rose chairman Joseph Leccese and William "Billy" Moore of leading North Carolina firm Moore & Van Allen to handle a proposed sale.

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Tepper told the New York Times, "Those who keep their heads while others are panicking usually do well". He will have to sell his 5 percent stake in the Pittsburgh Steelers before officially taking control of the Panthers.

The SI report said Richardson, 81, allegedly touched female employees and directed inappropriate comments toward them, including asking them if he could shave their legs and if they could could massage his feet.

SI's article claimed the team paid off at least four former staffers in settlements. You have taken the Panthers into your hearts and made them part of this warm and supportive community. "We want to thank all of our past and present players, coaches and staff for their hard work in making the Panthers a great success both on the field and in the community".

Tepper, who has always been the considered the favorite to buy the Panthers, has been a minority owner of the Pittsburgh Steelers since 2009. I wish David all the best as he completes the process to finalize the transaction and assumes the leadership of the Panthers' organization.

Forbes listed Tepper's net worth at $11.4 billion in February 2017.

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