Steelers minority owner David Tepper reportedly set to buy Carolina Panthers
One of the Steelers' minority owners reportedly is pulling out to become the primary owner of a different team.
Billionaire hedge fund firm owner David Tepper is planning to buy the Carolina Panthers. ESPN.com writes that the deal is expected to be done today .
Tepper is said to be worth $11 billion. The sale could be worth more than $2 billion, which would be a North American professional sports record.
In order for the sale to become official, 24 of the other owners need to approve it after if goes through the financial committee. That vote could come at the owners' meetings later this month.
This would be the second time in recent years a Steelers minority owner has bought a different team. Jimmy Haslam used to have a minority share before buying the Browns for $1 billion in 2012.
Jerry Richardson put the Panthers up for sale in the wake of allegations of sexual harassment and workplace misconduct published by Sports Illustrated. There also were reports of racial slurs directed at a former scout and threats to discipline players who took stances on social issues.
It's always appeared that the ownership groups of the Steelers and Panthers have had a good working relationship, up to and including playing each other every year in the preseason finale.
According to ESPN, it's believed Tepper has plans to keep the Panthers in Charlotte.