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Panthers Agree to Sell Team to David Tepper for Reported $2.2-2.3 Billion

FILE - Int his May 10, 2016, file photo, billionaire hedge fund manager David Tepper mingles during a grand opening of rock star and philanthropist Jon Bon Jovi's Jon Bon Jovi Soul Foundation Soul Kitchen and B.E.A.T. Center, which stands for Bringing Everyone All Together, in Toms River, N.J. People familiar with the situation say 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, May 15, 2018, 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. (AP Photo/Mel Evans, File)
Mel Evans/Associated Press

The Carolina Panthers announced Wednesday that an agreement has been reached to sell the franchise to Appaloosa Management hedge fund founder David Tepper.

According to NFL Network's Ian Rapoport, Tepper will purchase the team for a sum between $2.2 billion and $2.3 billion, and NFL owners are expected to approve the sale in Atlanta later this month.

Tepper will be the second owner in Panthers history, as Jerry Richardson founded the franchise and owned it since it began play in 1995.

             

This article will be updated to provide more information on this story as it becomes available.

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