The deal is subject to NFL approval. The Panthers said in a release the transaction is expected to close in July.
Tepper, who has been a minority owner of the Pittsburgh Steelers since 2009, said in a release Wednesday that he’s thrilled to have been selected to be the next owner of the Panthers.
The 60-year-old Tepper says he’ll “build upon the Panthers’ success on the field and in the community.”
The release didn’t mention if Tepper plans to move the team or keep it in Charlotte.
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