David Tepper close to finalizing record deal for Carolina Panthers

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Cam Newton #1 celebrates after a touchdown against the Miami Dolphins during their game at Bank of America Stadium on November 13, 2017 in Charlotte, North Carolina.

Billionaire hedge fund manager David Tepper is close to finalizing a deal for the NFL’s Carolina Panthers, according to the NFL Network and ESPN.

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The deal would transfer ownership from Jerry Richardson, who put the Panthers up for sale following accusations of sexual misconduct and using racial language at work.

Tepper is founder and president of Appaloosa Management. The hedge fund has earned Tepper billions, with Forbes estimating his net worth at more than $11 billion.