CHARLOTTE, N.C. — The Carolina Panthers say they’ve signed a “definitive agreement” to sell the team to David Tepper, the founder and president of global hedge fund Appaloosa Management.
The deal is subject to NFL approval. The Panthers said in a release the transaction is expected to close in July.
Tepper, who has been a minority owner of the Pittsburgh Steelers since 2009, said in a release Wednesday that he’s thrilled to have been selected to be the next owner of the Panthers.
The 60-year-old Tepper says he’ll “build upon the Panthers’ success on the field and in the community.”
The release didn’t mention if Tepper plans to move the team or keep it in Charlotte.
By STEVE REED, AP Sports Writer, By Associated Press – published on STL.News by St. Louis Media, LLC (A.S)