For the first 59 years of his life, David Tepper was rarely too far from his native Pittsburgh.
The deal, which would keep the team in Carolina, would need approval from 24 of the NFL's 32 owners, and is expected to receive those votes at the NFL Spring League Meeting in Atlanta on May 22, per Schefter and Wickersham. Tepper is worth a reported $11 billion and he bought the Panthers for somewhere in between $2.1 and 2.5 billion.
The source confirmed that the Panthers will be sold for $2.2 billion, which will set a record for the highest sale price for an National Football League team.
Over the next 48 hours, Richardson declared his intention to sell the Panthers, removed himself from operational control and elevated Tina Becker, who had been executive director of the owner's office, to chief operating officer.
The Panthers were put up for sale after current owner Jerry Richardson was accused of sexual harassment and workplace misconduct.