Anti-Trump billionaire to buy Carolina Panthers, calls president 'demented, narcissistic scumbag'
Hedge fund manager David Tepper is finalizing a deal to purchase the Carolina Panthers, according to multiple reports.
If approved, he’ll be another strong NFL voice against President Donald Trump, who has battled with the league over the past year, mostly in opposition to its players’ national anthem protests.
Tepper has had very harsh words for the president, saying on CNBC in October 2016 that Trump “may be demented, narcissistic and a scumbag.”
A month later, just before the election, Tepper made another appearance on CNBC. This time he said Trump is “the father of lies” and breaks the “Golden Rule.”
“It says do unto others as you would have others do unto you,” Tepper said. “And that’s not being done with Trump — not at least on the good side. … Listen, Trump masquerades as an angel of light, but he is the father of lies, especially concerned with charity or good deeds.”
Tepper doubled down on the “scumbag” remark last month in a visit to Carnegie Mellon University, whose business school bears his name following his $55 million donation in 2004.
“The economy’s really good right now, despite different things. … Whether I like the person or not I’m not going to get into that — although I did call him a demented, narcissistic scumbag. And if you look up demented, narcissistic scumbag, you’ll see my name calling Trump that. Just Google those three words,” Tepper told a student, according to Sports Illustrated.
ESPN and others reported Tepper’s offer for the Panthers was $2.2 billion, which would set the mark for the highest sale price of an NFL team. The previous record was Terry Pegula’s $1.4 billion purchase of the Buffalo Bills in 2014.
Panthers owner and founder Jerry Richardson announced his plans to sell the team in December after he was accused of sexual harassment by female employees.
Tepper, 60, is founder of the global hedge fund company Appaloosa Management and has a net worth of $11 billion, according to Forbes.
A Pittsburgh native, he has been a minority owner of the Steelers since 2009 and thus has already been vetted and approved by the NFL.
Sports Illustrated’s Albert Breer reported South Carolina billionaire Ben Navarro put in a higher bid for the Panthers than Tepper, but other team owners had concerns about Navarro’s business practices.
Here's the thing — Fair or not, among the other 31, there was big concern over Navarro's business practices. Tepper, conversely, was already in, as a minority owner, and other owners believe he'll be fantastic on league business matters.
— Albert Breer (@AlbertBreer) May 15, 2018
The New York Times reported last month that Navarro was believed to have offered $2.6 billion, “though it is unclear whether he needs the help of other investors to cover that price.”
Navarro tried but apparently failed to add former NFL star Peyton Manning to his ownership group, according to the Charlotte Observer.
Philadelphia 76ers owner Michael Rubin also bid for the Panthers, and his ownership group reportedly included NBA star Stephen Curry and rapper/entrepreneur Sean “Diddy” Combs.
“I jumped out there to make sure that they understood that they have to consider some black ownership right now with 80 percent, 70 percent of the league being African-American,” Combs said in January, according to TMZ. “It’s just time.”
Former San Francisco 49ers Colin Kaepernick wanted to join the group but apparently was unsuccessful.
I want in on the ownership group! Let’s make it happen! https://t.co/sDR4ciciY8
— Colin Kaepernick (@Kaepernick7) December 18, 2017
Other reported candidates to be primary owners of the Panthers were Bedrock Industries LP CEO Alan Kestenbaum and Brooklyn Nets majority owner Joseph Tsai.
Tepper said he is committed to keeping the team in Charlotte, North Carolina.
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