It’s a done deal. On Monday, the Panthers announced that the sale of the Panthers from Jerry Richardson to David Tepper has been finalized.
“I am thrilled to begin this new era of Carolina Panthers football and am humbled by the overwhelming excitement and support for the team,” Tepper said in a statement. “On behalf of the fans and myself, I thank Jerry Richardson for bringing the team to the Carolinas and for entrusting me with its future. Winning is the most important thing both on the field and in the community, and I am committed to winning a Super Bowl championship together. I look forward to being part of the Panthers’ family and to supporting this flourishing region.”
The $2.275 billion sale of the Panthers was approved earlier this year by NFL owners. The sale will allow the league to move on from Richardson’s scandal at the end of last year while further increasing the league’s overall value. The purchase price sets a new watermark for the NFL and all but $75MM of the transaction was completed in cash.
Tepper was no stranger to NFL owners, having been a minority owner of the Steelers for many years. Before officially buying the Panthers, Tepper sold his 5% stake in the storied franchise.
In a statement released by the club, Richardson officially bid farewell to his team:
“It’s been almost 60 years since I last took the field, and I know how tough it is to play this game. I have the highest respect for the men who wear the Panthers jersey. You inspire me every week with your commitment and your determination to win. I will always be your Number One fan. I wish Mr. Tepper all the best; the team is in good hands.”