According to ESPN, Steelers minority owner David Tepper is expected to sign a deal Tuesday to officially purchase the Panthers franchise.
A source tells ESPN that the Panthers are expected to sell for $2.2 billion, which would be a record for the highest sale price for an NFL team. The deal should be approved at the owners meetings in Atlanta on May 22, but will require three-fourths vote from the 32 owners.
Even so, Tepper has already been vetted by the NFL, seeing as he owns a stake in the Steelers, so this should be a fairly smooth process from here on.
Tepper is expected to keep the franchise in North Carolina.
It became clear last week that Tepper was going to purchase the franchise, so this shouldn’t come as much of a surprise. Tepper will, of course, have to sell off his 5 percent stake in the Steelers before he can purchase the team.
According to Adam Schefter, Tepper wants Carolina’s football side of the business to mirror the Steelers with continuity, stability, and progressive thinking on player contract extensions and not setting the market on free agents.
We’ll have more regarding the sale of the Panthers as the news is available.
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