David Tepper purchases Carolina Panthers

For his own 50th, he threw himself a little get-together at the Mandarin Oriental, during which he danced onstage with Ellen DeGeneres and sang "All I Wanna Do" and "If It Makes You Happy" with Sheryl Crow.

A SC businessman has released a statement wishing the Carolina Panthers "success" moving forward after hedge fund manager David Tepper reportedly agreed to buy the team from founder Jerry Richardson for a record $2.2 billion.

The price is not cheap: Tepper will pay $2.2 billion, according to a report from the Charlotte Observer.

► $1.2 billion - Miami Marlins (2017): Yankees legend Derek Jeter and a group led by NY businessman Bruce Sherman purchased the Marlins from then-owner Jeffrey Loria.

Buffalo Bills, NFL, $1.4 billion: Terry Pegula paid $1.4 billion to purchase the franchise in 2014, breaking the league's previous record. He became only the first former player since George Halas to own an National Football League team when he was awarded an expansion franchise in 1993. Shockingly, that is $100 million less than Forbes estimated the Panthers to be worth a few months back and over $1 billion less than many predicted the sale would fetch. Plus, Tepper can use the sale of his minority stake to help finance this deal, giving him another quick route to revenue.

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Richardson put the team up for sale last December on the same day Sports Illustrated published a story reporting the Panthers have settled at least four cases involving workplace misconduct.

The release didn't mention if Tepper plans to move the team or keep it in Charlotte.

It is unclear at this time whether Tepper will be the sole owner or have minority owners. Helping him considerably, because he's already a minority owner in an NFL team, Tepper has been league-vetted which streamlines his purchase of the Panthers.

"Sports brings people together", said Charlotte City Councilman Justin Harlow. In 2004, he donated $55 million to his alma mater, Carnegie Mellon.

"The economy's really good right now, despite different things", Tepper told a first-year business school student at Carnegie Mellon University, SI reported. He will have to give up that stake to become the Panthers' majority owner. And the new owners will try to get the Panthers back to the Super Bowl for their first ever championship ring.


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