The Carolina Panthers are being sold for an NFL-record $2.2 billion.
Hedge fund manager David Tepper has agreed to buy the Panthers from team founder Jerry Richardson
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The purchase is subject to a vote at the NFL owners meeting next week in Atlanta.
Richardson announced in December he was selling the team amid an NFL investigation into sexual and racial misconduct in the workplace. That decision came after a report by Sports Illustrated detailing Richardson’s alleged misconduct.
The league’s investigation into the allegations is still ongoing.
The price tag is the most ever paid for an NFL franchise, eclipsing the $1.4 billion the Pegula family paid to purchase the Buffalo Bills in 2014.
Ben Navarro, the founder and CEO of Sherman Financial Group, was considered Tepper’s biggest competitor in the bid to purchase the Panthers. He conceded Tuesday that he’d lost the bid.
”My family and I are grateful to have had the opportunity to be included as a potential buyer of one of the premier assets in all of the Carolinas – the Panthers football team,” Navarro said in an email to The Associated Press. ”It would have been a privilege to become the stewards of this iconic franchise to ensure its home remains in the Carolinas where it belongs, to establish a new era of leadership and excellence on and off the field, and to leverage the team’s NFL platform to further our quest to help all children gain access to a great education.”
Tepper’s plans on whether the team will remain in Charlotte for the long-term future remain unclear.
The Panthers are tied to their downtown stadium through the 2018 season because of an agreement with the city. After that a new owner is free to extend the lease to the stadium
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Moving the Panthers out of Charlotte would seem to a longshot.
NFL Commissioner Roger Goodell said he would prefer to keep the team in Charlotte where it has been successful. The Panthers have been one of the NFL’s best supported teams with only two non-sellout games since the team began playing its home games in Charlotte in 1996.
Born and raised in Pittsburgh, Tepper, 60, is a part owner of the Steelers and founder and president of Appaloosa Management, a global hedge fund based in Miami.
Because he holds a 5 percent stake in the Steelers, Tepper’s finances already have been vetted by the league, meaning it wouldn’t take much for NFL owners to approve the sale. However
Youth Orlando Brown Jr. Jersey , Tepper would have to sell his minority ownership stake of the Steelers, per league rules.
Forbes listed Tepper’s net worth at $11.4 billion in February 2017.
Tepper is known for his philanthropy.
He donated $55 million to Carnegie Mellon University’s business school in 2013. Tepper graduated from the University of Pittsburgh and Carnegie Mellon, where the Tepper School of Business is named after him.
Richardson was the first and only majority of the Panthers. He became only the first former player since George Halas to become an NFL owner when he was awarded an expansion franchise in 1993. Richardson promised fans at the time the Panthers would win a Super Bowl ”within 10 years.” Carolina has reached the Super Bowl twice, including in 2015, but has never won.
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Basketball Australia says world governing body FIBA will enter ”new territory” when it investigates a bench-clearing brawl during Australia’s World Cup qualifying match against the Philippines Monday.
It would not rule out criminal charges being laid.
Thirteen players, including four Australians, were ejected for their part in the brawl which took place in the third quarter of the match at the Philippine Arena in Ciudad de Victoria. The match was won 79-48 by Australia.
Fighting erupted with four minutes left in the quarter when Australia’s Chris Goulding was knocked to the ground by an opponent
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Philippines players and officials poured onto the court and a wild melee began. Australia’s Sudan-born NBA star Thon Maker was seen to aim several flying kicks at Philippines players and Goulding was trapped on the floor under a pile of players as punches were thrown and chairs were tossed into the arena by fans.
The Australian players were later helped to leave the arena, board a bus and return to their hotel by representatives of the Australian embassy.
Basketball Australia chief executive Anthony Moore said players were bruised and shaken but not seriously hurt. He said his organization would fully co-operate with any FIBA investigation or tribunal but he would not speculate on what sanctions might be imposed.
”I can’t speculate on what the sanctions will be because we’re actually in new territory in this regard,” Moore said. ”We want to work with FIBA on the tribunal and get that outcome and we’ll assess our outcomes from there.
”We have briefed our lawyers on that, as you would expect us to do.”
Moore said Kickert’s retaliation after the foul on Goulding was an ”unsavory act.”
”Whilst we accept our responsibility for our role in last night’s incident, what we don’t accept is the action whereby fans and officials actually get involved in the fray,” Moore said. ”We find that absolutely unacceptable.”
Moore said players feared for their safety in the ”tinderbox” atmosphere inside the stadium.
”You will have seen in the vision our athletes and coaches actually stayed on the court for a considerable amount of time because that was deemed to be the safest place for our players and coaches,” he said. ”That’s a fairly compelling set of circumstances; are we actually going to get out of here unscathed?
”Physically our players are fine. They’re bruised and battered… (but) all the players are shaken up and Chris in particular.”
Milwaukee Bucks center Maker has defended his role in the incident
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”I am deeply disappointed in the actions displayed during yesterday’s game against the Philippines,” Maker said. ”Being from a war-torn country, basketball for me has always been a means to bring people together.
”I feel a great responsibility as an NBA player to carry myself in a way that promotes peace and unity.
”My hope is that this experience provides a springboard for discussion regarding the security surrounding these games.”
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