Tepper expected to sign deal to buy Panthers

Panthers prospective new owner once called President'The father of lies

Tepper is now a minority owner of the Pittsburgh Steelers, so for this deal to go through, Tepper will have to sell his stake in the Steelers.

Tepper, 60, would have to sell his 5 percent stake in the Steelers before completing the purchase of the Panthers.

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The source confirmed that the Panthers will be sold for $2.2 billion, which will set a record for the highest sale price for an National Football League team. The sale is still pending approval of the National Football League owners at their next meeting, which takes place May 21-23 in Atlanta.

Tepper has always been the favorite to buy the Panthers. Also key to the purchase is the hedge fund manager's plan to keep the Panthers in Charlotte. There has been a lot o talk about the Panthers getting a new stadium, and if he would move the team if he didn't get one. After being vetted, however, the sale is assumed to proceed without hitches. According to Forbes, Tepper is worth $11 billion and the Panthers are worth $2.3 billion.

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Tepper attended Peabody High School and is a graduate Carnegie Mellon University, where the business school is named after him.

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