Hedge Fund News From HedgeCo.Net

Hedge Fund Billionaire Tepper Approved Unanimously as Panthers Owner

(Reuters) The NFL approved the sale of the Carolina Panthers to former Pittsburgh Steelers minority owner David Tepper on Tuesday by a 32-0 vote at the league’s meetings in Atlanta.“I would like to congratulate David and welcome him to the NFL,” commissioner Roger Goodell said while introducing Tepper. “We’re thrilled to have you.” “The first thing I care about is winning,” Tepper told reporters. “The second thing I care about is winning. The third thing I care about is winning — on and off the field.” Tepper, 60, is the founder of hedge fund Appaloosa Management L.P. and has a net worth is estimated by Forbes to be $11 billion. He is buying the Panthers from founder Jerry Richardson for $2.275 million, the largest sum ever paid for an NFL franchise, and the final details of which are expected to be finalized in July. Tepper must sell the 5 percent stake that he owns in the Steelers, per NFL rules.

To read this article:

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply