6 things to know about new Panthers owner David Tepper

Report Panthers new owner could get $1.76 billion in tax savings on purchase

Report Panthers new owner could get $1.76 billion in tax savings on purchase

Jason La Canfora of CBS Sports reports that hedge fund manager and Pittsburgh Steelers minority owner David Tepper looks set to buy the team.

Current Panthers owner Jerry Richardson put the team up for sale in December amid an National Football League investigation into allegations of sexual and racial workplace misconduct. The deal is reportedly worth between $2.1 and $2.5 billion.

The deal would have to be approved at the owners meetings in Atlanta in May. Tepper will also have to sell his minority stake in the Steelers - five percent, per the ESPN report - before the sale goes through.

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The next step for the billionaire investor is to sell his minority stake in the Steelers and get approved by National Football League owners. For Tepper to be able to take over, at least three-fourths of the NFL's owners must vote to approve him.

Tepper, who is the founder of Appaloosa Management, is worth an estimated $11 billion.

The 60-year-old Tepper was born in Pittsburgh, attended the University of Pittsburgh and earned an MBA from Carnegie Mellon in 1982 - the business school now dons his name.

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