Minority Steelers owner David Tepper purchases the Carolina Panthers

Minority Steelers owner David Tepper purchases the Carolina Panthers

As a minority owner of the Pittsburgh Steelers since 2009, league owners are familiar with Tepper. He went to college and business school there, then briefly moved across the OH border to do some accounting for a steel company.

David Tepper, a minority owner of the Pittsburgh Steelers, has finalized a deal to purchase the Carolina Panthers, a source close to the situation told Tyler Feldman of 12 Sports on Monday. Richardson, who founded a Panthers franchise that started National Football League play in 1995, reportedly had an original plan for the team to be sold within two years of his death.

The Observer and other media outlets reported last week that Tepper was set to become the team's new owner, ending a more than five-month search for a buyer for the franchise that began play in 1995.

Panthers owner Jerry Richardson put the team up for sale shortly after sexual harassment allegations were published by Sports Illustrated in December.

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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.

It was reported on May 11 that Tepper was the favorite in the bidding process over SC financier Ben Navarro.

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