Now, a frontrunner has emerged to buy the football team. Billionaire hedge fund manager David Tepper has emerged as the frontrunner to own the Carolina team. Tepper, who has a $10 billion net worth, is the founder of Miami based Appaloosa Management. Tepper is a minority owner of the Pittsburgh Steelers, giving him familiarity with NFL ownership. This should aid him in getting the 75% approval of the NFL’s 32 owners that he will need. This isn’t the first time a minority owner of another team sought to buy his own team. Cleveland Browns owner Jimmy Haslam, who bought that team in 2012, also had a minority stake in the Steelers. The Panthers are expected to set a new record in the NFL by selling for more than $2 billion. The Buffalo Bills hold the current record. That team sold to the Pegula family for $1.4 billion in 2014. Richardson announced that he’d be selling the Panthers in December 2017. The 81-year-old is under investigation by the NFL for the allegations of sexual misconduct by several employees.
