Hedge fund founder David Tepper has agreed to purchase the Carolina Panthers, the team announced Wednesday morning.
Tepper will pay $2.2 billion for the franchise, according to reports.
Panthers reach sales agreement with David Tepper
— Carolina Panthers (@Panthers) May 16, 2018
Tepper, 60, is the founder of Appaloosa Management and a minority owner of the Pittsburgh Steelers. In a March ranking of billionaires, Forbes estimated his net worth at $11 billion.