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Report: David Tepper’s deal to buy Panthers to be signed today

Darin Gantt

Even with some thinking the value of sports teams is about to skyrocket with the addition of potential gambling revenues, the sale of the Panthers is proceeding as planned.

According to Seth Wickersham and Adam Schefter of ESPN, Steelers minority partner David Tepper is expected to sign the deal to buy the Panthers from Jerry Richardson today.

That keeps the transaction on track to be approved at the owners meeting in Atlanta next week.

Tepper didn’t lodge the high bid in the process, but he did have the biggest stack of cash, and the blessing of a group of owners who had already invited him into their club. And with Richardson still being investigated for workplace misconduct after last year’s reports of sexual and racial harassment, that gave the league a bit of leverage to nudge the process in a certain direction.

There were reports that other bids were in the $2.5 billion range, while Tepper’s was in the $2.1 billion to $2.2 billion range.

Lawyers were still going through the final points of the sale yesterday in Charlotte, and no speed bumps are expected in the deal.