Billionaire David Tepper Finalizes Purchase Of Carolina Panthers: Now What?
on Jul 10, 2018 07:43 AM EDT
The Carolina Panthers announced on Monday that billionaire hedge fund manager David Tepper has completed his purchase of the franchise.
Tepper, who is the founder and president of Appaloosa Management, LP., said that he is thrilled to kick off the new era of Panthers football. He agreed to a definitive agreement of buying the franchise last May 16 before the NFL owners approved the deal six days later at the National Football League Spring Meeting.
"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 said.
The 60-year-old Tepper is a Pittsburgh native and has once become a minority franchise owner of the Pittsburgh Steelers. Tepper bought the Panthers for $2.275 billion, which is the most ever paid for a sports franchise in North America. In addition, he also beat multiple bidders in the process over the six-month period.
Panthers Parts Ways With Becker
On the other hand, the Panthers have also parted ways with Tina Becker, who is the squad's chief operating officer. Becker, who has been working with the team for 19 years, received a promotion last December after erstwhile owner Jerry Richardson announced that he would be selling the team.
Richardson was put on the hot seat at the end of last year after allegations of workplace misconduct against him circulated in the league. The NFL eventually fined Richardson $2.75 million after the league's investigation proved those said claims.
Can The Panthers Finally Win The Super Bowl?
The Panthers made two appearances in the SB but failed to win one in their 24 seasons in the league. The team is coming off an 11-5 win-loss season wherein they finished second in their division. Overall, the Panthers has a decent record of 9-8 in the playoffs.
It was a mediocre year for the Panthers last season, who was ranked 12th in the league in overall points, 14th in overall yards. Prior to last season, the Panthers finished fourth in their division after an SB appearance in 2015.
Three years ago, the Panthers turned the heads as they made the SB for the first time since 2003 after finishing the season with a 15-1 card. The Panthers were also a lethal threat in the offensive end in 2015 as they wound up first in overall points and fifth in overall yards.