Thursday, 16 August, 2018

David Tepper close to agreeing $2.2 bn deal for Carolina Panthers

Carolina Panthers helmets USA TODAY Sports Images
Lisa Bryan | 17 May, 2018, 01:53

Three-quarters of league owners must approve the deal and a vote is expected next week.

Two things must happen for the sale to become official: Tepper must sell his 5% minority stake in the Steelers he purchased in 2009, said to be worth north of $120m, and he must be approved by three-fourths of National Football League owners at next week's meeting - neither should be an issue as he was vetted when he made the minority purchase.

The transaction is expected to close in July, the team announced.

► $1.4 billion - Seattle Mariners (2016): John Stanton, the founder of Western Wireless Corporation, led a group of minority owners to purchase majority control of the team from Nintendo of America.

The Carolina Panthers are being sold for an NFL-record $2.2 billion. The report said the Panthers had reached settlements with at least four former employees regarding inappropriate workplace behavior by Richardson. And the new owners will try to get the Panthers back to the Super Bowl for their first ever championship ring.

Tepper, age 60, has risen to be one of the world's richest hedge-fund managers since he founded Appaloosa Management in 1993.

ESPN reported the sale would be for $2.2 billion, tying a record price for a sports team. The announcement of the sale came on Tuesday.

The deal would transfer ownership from Jerry Richardson, who put the Panthers up for sale following accusations of sexual misconduct and using racial language at work.


"We are deeply grateful for the outpouring of support over the last 25 years", Richardson said.

How do you feel about the sale of the Carolina Panthers?

Richardson has had a strong relationship with the Rooney family in Pittsburgh through the years and is familiar with Tepper.

City council member Tariq Bokhari said from all he has heard, David Tepper wants to keep the team here as well. "They had confidence in him". It's believed he is paying cash for the franchise. He'd have to sell that stake before he could buy the Panthers.

Richardson had owned 48 per cent of the franchise and the Panthers had several minority owners under the previous regime.

But who exactly is Tepper? And if you look up demented, narcissistic scumbag, you'll see my name calling Trump that.

A noted philanthropist, Tepper told CNBC's Squawk Box the day before the presidential election that Trump "masquerades as an angel of light, but he is the father of lies". He contended Trump did not give money in the wake of some New York-area disasters.

He continued his attacks on Trump saying, according to Sports Illustrated, saying, "During the financial crisis, during Sandy, [Trump did] not [give] one dime, and I know this for fact-not conjecture-not one dime to one major food bank or one major pantry in Jersey during Sandy". The owners are scheduled to meet next Tuesday and Wednesday in Atlanta and could vote then to ratify the deal, which would complete the process put in motion a year ago after Richardson was accused of workplace misconduct.

Recommended

  • Will Nikki Bella Get Back Together With John Cena?

    Will Nikki Bella Get Back Together With John Cena?

    However, it's just a *tad* awkward to go on TV and talk about how much you want to get back with someone for six minutes straight. He is such a sweetheart and I truly love him so much; he's my best friend. "I want to be the father of her children".
    Honor 10 officially launched in India for a price of Rs 32999

    Honor 10 officially launched in India for a price of Rs 32999

    It is powered by the company's HiSilicon Kirin 970 SoC and is offered in one variant - 6GB RAM with 128GB storage. The front camera also has bokeh mode and supports for studio lighting effects in a range of lighting conditions.
    Boy returns to school after dad's death, 70 cops escort him

    Boy returns to school after dad's death, 70 cops escort him

    He and other officers approached Christopher Wolfe, 21, who died of a gunshot wound after barricading himself inside an apartment. Wearing his father's badge, the boy returned to Sullivan Elementary School with dozens of cops by his side , WNDU reported.
  • Check out the first gameplay trailer for Rage 2

    Check out the first gameplay trailer for Rage 2

    Get your first look at the insane action in the worldwide gameplay reveal trailer below and check out the live action teaser. If you like open-world FPS titles set in a dystopian universe, then Rage 2 looks to be right up your alley (and mine, too ).
    School Board: Schools 'Heading In The Right Direction' Under New Leader

    School Board: Schools 'Heading In The Right Direction' Under New Leader

    Charles Styler of North Sea and Michael Medio of Water Mill-both newcomers-will duke it out for a seat on the seven member board. Those in the Lansingburgh Central School District will vote on a $50,696,799 budget, representing an 8.59 percent increase.
    Microsoft announces the Surface Hub 2

    Microsoft announces the Surface Hub 2

    Unfortunately, Microsoft doesn't plan to share further details of the Surface Hub 2 until later this year, including the price. Rather, the ability to switch from landscape to portrait via a hinge will prove as a huge attraction, according to Microsoft.
  • It was an emotional rollercoaster, but BROOKLYN NINE NINE IS BACK BABY!

    It was an emotional rollercoaster, but BROOKLYN NINE NINE IS BACK BABY!

    NBC heard the call and announced that it would be picking Brooklyn Nine-Nine off of Fox's bloody cancellation floor. Greenblatt acknowledged the quickest they could get Brooklyn Nine-Nine on the schedule would be midseason.
    Hamilton won the pole position at the Spanish Grand Prix

    Hamilton won the pole position at the Spanish Grand Prix

    Obviously, if you look from the outside it's easy. "Even in the end, with a fresher set, I wasn't able to attack until the end". Luckily for Verstappen, the damage was only to his front wing endplate and didn't limit his performance too much.

    How to Watch the NBA Draft Lottery

    Therefore, if you don't see a team take hold in its designated slot above, that means it has vaulted into a top-three selection. At that point, both teams will be on pins and needles hoping the selection falls on the right number.
  • Rhumbline Advisers Grows Holdings in The Home Depot (HD)

    Rhumbline Advisers Grows Holdings in The Home Depot (HD)

    Capital Investment Advsr Lc owns 183,388 shares or 2.27% of their U.S. portfolio. (NYSE:HD) was sold by Roseborough Teresa Wynn. Sypris Solutions, Inc . (NASDAQ: SYPR ) is projected to report quarterly loss at $0.07 per share on revenue of $20.35 million.
    'Avengers: Infinity War' scores second-biggest opening in China box office history

    'Avengers: Infinity War' scores second-biggest opening in China box office history

    It was certainly a powerful moment in the film, especially for Peter and Gamora's relationship, which now spans three movies . That means that the opening weekend for The Fate of the Furious represented roughly 49% of it's overall China gross.
    Why Closing Kim's Test Site Won't Hinder His Nuke Plans

    Why Closing Kim's Test Site Won't Hinder His Nuke Plans

    In one of the first signs that Kim was willing to concede Punggye-ri, he announced last month that the site had "done its job". If accurate, the analysis would show that North Korea has taken concrete steps to dismantle the Punggye-ri nuclear test site.

Microsoft Making Cheaper Surface Tablet To Compete With Apple's iPad Microsoft Making Cheaper Surface Tablet To Compete With Apple's iPad Later, hardware chief Panos Panay confirmed that Microsoft killed the Surface Mini-at the last second, by many accounts. According to the sources, Microsoft is planning to target the sub $500 market which is now dominated by Apple iPads .

National Basketball Association won't suspend JR Smith for shoving Al Horford in the back National Basketball Association  won't suspend JR Smith for shoving Al Horford in the back Smith called Pacers guard Lance Stephenson a "clown" for his weird antics on the court-presumably including his dirty play. I've always been on the road. "But if there is anybody I would put my money on it would be this group", Brown said.

Insane golfers courageous erupting volcano in Hawaii to sneak in a round Insane  golfers courageous  erupting volcano in Hawaii to sneak in a round Lava from another fissure that opened over the weekend is making a path for the ocean, about 2 miles (3 kilometers) away. Planes need to be wary of airborne ash which could impact engines and potentially cause engine failure, Accuweather said.

Some hear 'Yanny,' others hear 'Laurel' in viral, divisive audio Some hear 'Yanny,' others hear 'Laurel' in viral, divisive audio Many celebrities, including Chrissy Teigen and Ellen DeGeneres , have chimed in and shared whether they hear Yanny or Laurel . I, for instance, correctly hear " Laurel ", spoken in a deep male voice with the diction of a seasoned radio announcer.

Nokia's first smartphone with a notch officially unveiled in China Nokia's first smartphone with a notch officially unveiled in China As for the rumoured Nokia X6 price , the smartphone is expected to cost CNY 1,499 for its 4GB RAM, 64GB storage variant. For connectivity, it comes with 4G VoLTE, 802.11ac dual band Wi-Fi, GPS, GLONASS, Bluetooth 5 and a headphone jack.

Sadr eyes Govt as poll upset rocks Iraq Sadr eyes Govt as poll upset rocks Iraq MacCallum added that Trump's top military officials, Defense Secretary James Mattis and Joint Chiefs Chairman Marine Corps Gen. Despite a third place finish, Abadi could potentially still remain prime minister after the government coalition is formed.

Sharif's 26/11 statement 'grossly misinterpreted': PML-N Sharif's 26/11 statement 'grossly misinterpreted': PML-N To a query on Karnataka exit polls, she said the BJP will form the government in the state as the Congress will face defeat. In the interview, Sharif said: "We have isolated ourselves".

African Union reacts to relocation of US embassy to Jerusalem African Union reacts to relocation of US embassy to Jerusalem The protesters in South Africa want government to also expel Israel's ambassador. Ambassador Nikki Haley during an emergency meeting of the U.N.

Brave Ireland Unnerve Pakistan Despite Test Defeat Brave Ireland Unnerve Pakistan Despite Test Defeat Pakistan's record on fifth day performances was evidently abysmal with only one win in their last nine day five matches. But Imam-ul-Haq and Babar Azam shared a 126-run fourth wicket stand as Pakistan battled to their winning target of 160.

Facebook has deleted millions of spam posts and fake accounts Facebook has deleted millions of spam posts and fake accounts This is in addition to the millions of fake account attempts Facebook said it prevents daily from ever registering with Facebook . The numbers were disclosed in a report Tuesday that breakdown how much material Facebook removes for violating service terms.

Senators want FTC to investigate Google's location data collection With more than ten million Australians using Android phones, they could be paying $580 million in unnecessary fees every year. The report said a Google spokesman had refused to answer specific questions, without detailing what the queries were.

Cargill has 'significant concerns' over US-China trade spat Cargill has 'significant concerns' over US-China trade spat Meanwhile, the National Retail Federation expressed concern that the two countries' trade dispute would harm the USA economy. Senate Democrats also criticized the president for appearing to give in to Chinese pressure on the ZTE sanctions.

Amazon makes vague threat after Seattle passes new "head tax" Amazon makes vague threat after Seattle passes new Bezos also halted two construction projects in Seattle pending the outcome of the head-tax debate, which Sawant called extortion. Herdener then turned the tables, suggesting the people holding the city's purse strings are the problem.

Tesla's Autopilot Engaged During Crash Tesla's Autopilot Engaged During Crash The National Transportation Safety Board is investigating a Tesla crash in Florida last week that killed two high school students. Meanwhile, a fatal crash in California, which happened when a Model X was on autopilot mode, is still under investigation.

Mariners' Robinson Cano suffers broken bone in hand on hit by pitch Mariners' Robinson Cano suffers broken bone in hand on hit by pitch The under is 4-0-1 in Detroit's last five during game three of a series and 5-2 in their last seven Sunday games. He was attended to by manager Scott Servais and a team trainer and walked off the field several minutes later.