The sale of the Carolina Panthers to hedge fund manager David Tepper is expected to be executed soon.
NFL Network Insider Ian Rapoport reported the sale of the Panthers from Jerry Richardson to Tepper is moving along and a deal could get done Tuesday, per sources informed of the process.
According to Rapoport, an agreement is expected to happen which would allow for a vote on the sale by NFL owners at the Spring League Meeting in Atlanta, May 21-23.
Tepper has long been the favorite to buy the Panthers. The sale is expected to come in just above $2 billion. As a minority owner of the Pittsburgh Steelers since 2009, league owners are familiar with Tepper. Also key to the purchase is the hedge fund manager's plan to keep the Panthers in Charlotte.
The next step for the billionaire investor is to sell his minority stake in the Steelers and get approved by NFL owners. After being vetted, however, the sale is assumed to proceed without hitches.