An NFL team just got a new owner, who will pay the record price of $2.2 billion for the team. CBS Sports reports that billionaire hedge fund manager David Tepper will be shelling out for the Carolina Panthers.
“This blasts past the previous highest price fetched by an NFL franchise, when the Buffalo Bills were purchased by Terry and Kim Pegula for $1.4 billion,” the story reports.
Tepper is also a minority owner of the Pittsburgh Steelers.
“Rumors of the Panthers generating a $2.5 billion sale price percolated for months leading up to the sale after the investigation began into current/soon-to-be-former owner Jerry Richardson’s misconduct in the workplace,” the report notes. “Shortly after the NFL took over the investigation into Richardson’s behavior, the Panthers owner announced his intention to sell.”