AP sources: Tepper to buy Panthers for record $2.2 billion

FAN Editor

People familiar with the situation say hedge fund manager David Tepper has agreed to buy the Carolina Panthers from team founder Jerry Richardson for a record $2.2 billion.

The people spoke to The Associated Press on Tuesday on condition of anonymity because the team has not yet announced the sale. The purchase is subject to a vote at the NFL owners meeting next week in Atlanta.

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Richardson announced in December he was selling the team amid an NFL investigation for sexual and racial misconduct in the workplace.

The $2.2 billion eclipses the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014.

Tepper, 60, is a part owner of the Pittsburgh Steelers and founder and president of Appaloosa Management, a global hedge fund based in Miami.

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For more NFL coverage: http://www.pro32.ap.org and http://www.twitter.com/AP_NFL

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