The Carolina Panthers announced Wednesday that Steelers minority owner David Tepper has signed a definitive agreement to purchase the franchise from Jerry Richardson.
“Bringing the Panthers and the NFL to the Carolinas in 1993 was enormously fulfilling for Rosalind and me and all of our partners,” Richardson said. “We are deeply grateful for the outpouring of support over the last 25 years. You have taken the Panthers into your hearts and made them part of this warm and supportive community. We want to thank all of our past and present players, coaches and staff for their hard work in making the Panthers a great success both on the field and in the community. The personal relationships we have enjoyed have been very meaningful to us.
“I look forward to turning the stewardship of the Panthers over to David Tepper. I have enjoyed getting to know him in this process and am confident that he will provide the organization with great leadership in both its football and community initiatives. I wish David and his family the very best as they enter this exciting new phase of their lives.”
“I am thrilled to have been selected to be the next owner of the Carolina Panthers,” Tepper said. “I have learned a great deal about the community and the team over the past several months and look forward to becoming part of the Carolinas. I want to thank Jerry Richardson and the other Panthers partners for all they have done to establish and develop the NFL in the Carolinas. It has been a remarkable 25-year journey and I promise to build upon the Panthers’ success on the field and in the community.”
The expectation is that the NFL will approve the sale sometime this July.
According to Ian Rapoport, the Panthers official sale price is $2.275 billion with $2.2 billion of this figure being paid in cash by Tepper. This set a new record price for the purchase of a US sports franchise.