David Tepper wants to run the Panthers like the Steelers

Panthers prospective new owner once called President'The father of lies

Panthers prospective new owner once called President'The father of lies

Tepper, who has already submitted much of the required paperwork to the league, is unlikely to face much opposition when the NFL owners on the finance committee review his application before sending it to the full ownership to vote on.

The deal is expected to become final later this month with Tepper paying a reported $2.2 billion.

Tepper, 60, who made his fortune in hedge funds, is estimated to have a net worth of $11 billion, so this is nothing more than a proverbial drop in the bucket.

Late a year ago, Carolina Panthers owner Jerry Richardson, announced his decision to sell the team following a Sports Illustrated report which outlined some of Richardson's alleged sexual and racial misconduct toward former employees.

Tepper bested a group of bidders that included Charleston-based financial advisor Ben Navarro, Fanatics owner Michael Ruben and Bedrock Industries Chairman Alan Kestenbaum.

The billionaire businessman announced his desire to bring an National Football League team to the Carolinas in December of 1987. While other candidates would have needed to go through a more rigorous vetting process of their financials and their backgrounds, Tepper is a known quantity as a current minority owner of the Pittsburgh Steelers. Tepper is paying $2.2 billion in cash. And while the fans of the team should be happy that the new ownership plans to keep the Panthers in Charlotte, the organization itself is quite nervous.

The Carolina Panthers will stay in North Carolina, after reportedly being purchased by the Pittsburgh Steelers' minority owner. Carolina have reached the Super Bowl twice, including in 2015, but have never won the championship. It was then later announced that Richardson would sell the team in light of the allegations.

Tepper, though, was long the preferred buyer from inside the NFL.

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