Today our affiliate station in Binghamton, NY reported hedge fund manager David Tepper has finalized a deal between $2.1 and $2.5 billion dollars to become the new owner of Carolina's team.
Navarro, who's global financial services firm Sherman Financial is worth $2 billion, reportedly bid $2.6 billion on the team, and as of last week was still seeking limited partners to pitch in, even National Football League legend Peyton Manning according to one report.
The deal would have to be approved at the owners meetings in Atlanta in May. If the finance committee accepts the proposal, it is expected that the owners will vote to approve as well.
In order for the sale to become official, three-fourths of National Football League team owners (24) must approve the team's purchase.
Here are six things to know about Carolina's new owner.
According to ESPN's David Newton, Tepper was in Charlotte last Wednesday to meet with team officials.
The Panthers have been for sale since December when Owner Jerry Richardson was accused of sexual misconduct and agreed to put up the team for sale.
One of the biggest concerns for Panthers fans were if Tepper would want to move the Panthers to a different city.