Hedge fund billionaire to pay $2.2B for NFL's Panthers
May 16, 2018
Appaloosa Management co-founder David Tepper has reportedly agreed to purchase the Carolina Panthers franchise for $2.2 billion, said to be the first time the price of an NFL franchise has eclipsed $2 billion. Tepper co-founded Appaloosa 25 years ago and played a key role in the fund's rise to prominence as a distressed investor.
That $2.2 billion figure is reportedly the same amount Landry's chairman Tilman Fertitta paid for the NBA's Houston Rockets last year. Tepper's agreement could be a sign of increasing interest from financiers in the world of pro football. Already, private equity moguls have a prominent place on the NBA's ownership list.