The Carolina Panthers announced today that the sale of the franchise to David Tepper, the founder and president of global hedge fund Appaloosa Management, L.P., has closed.
"I am thrilled to begin this new era of Carolina Panthers football and am humbled by the overwhelming excitement and support for the team," Tepper said. "On behalf of the fans and myself, I thank Jerry Richardson for bringing the team to the Carolinas and for entrusting me with its future. Winning is the most important thing both on the field and in the community, and I am committed to winning a Super Bowl championship together. I look forward to being part of the Panthers' family and to supporting this flourishing region."
Tepper signed a definitive agreement to purchase the team on May 16. The NFL owners approved the purchase at the NFL Spring Meeting in Atlanta on May 22.