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By Ken Belson

Jerry Richardson, the founding owner of the Carolina Panthers, has agreed to sell the team to David A. Tepper, a billionaire hedge fund owner, for a record-setting amount of at least $2.2 billion.

The sale price was confirmed by two people with knowledge of the deal.

The sale, which must be approved by at least three-quarters of the N.F.L.’s owners, comes five months after Richardson said that he would sell the team. The announcement came shortly after an article in Sports Illustrated linked him to allegations of sexual harassment. The N.F.L. continues to investigate those allegations.

The owners could vote on Tepper’s application as early as next week, when they meet in Atlanta.
Advised by Steve Greenberg of Allen & Co., Richardson initially sought at least $3 billion for his team, but trimmed his expectations when no potential buyers emerged at that price. At least one potential buyer, Michael Rubin, the founder of the online sports merchandise retailer Fanatics, dropped out of the process when he was told he would have to pay substantially more than $2.5 billion for the team, according to two people with knowledge of the process.

Full Article -- NY Times