We’ve Got Our Eyes on You, David Tepper!
All eyes have been on David Tepper this week, the presumed new owner of Charlotte’s hometown NFL Carolina Panthers. This self-made billionaire is expected to be spending $2.275B of his $11B fortune on our beloved Carolina Panthers.
As with real estate, it’s not always the highest bidder that wins - it’s the BEST all-round Offer that most often wins the deal - and the sale of the Carolina Panthers is no different. David Tepper, the self-made, hedge-fund billionaire’s ability to pay cash, was a major factor in his win in the bidding war to purchase the Panthers. Because Tepper is currently a minority owner of the Pittsburgh Steelers, he is not only familiar to the NFL and other team owners, but, he is familiar with the inner workings of the NFL.
Having his foot in the door with the NFL and the fact that he is paying cash, is expected to result in quick approval from the NFL and a speed Closing. The NFL owners will meet in Atlanta next week and the 75% approval vote that is necessary is fully expected.
While Tepper is currently a minority owner of the Steelers, part of the agreement to purchase the Panthers includes his dissolution of that ownership to avoid conflict of interest. It is expected that because Tepper will be the sole owner, his focus on the team and the city will be first and foremost in his decisions.
Welcome to Charlotte, David Tepper, and to the Carolina Panthers organization. We’re thrilled to have you!
Read Sports Illustrated’s inside report on how the deal went down.
© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | We’ve Got Our Eyes on You, David Tepper!