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David Tepper Finalizing Deal to Buy Panthers: Report

A source tells WCNC David Tepper will purchase Panthers for around $2.2 billion.

CHARLOTTE - Billionaire David Tepper is finalizing a deal to purchase the Carolina Panthers for about $2.2 billion, sources tell WCNC (NBC Charlotte)

The deal is not official yet, but on Friday NBC Charlotte reported an announcement could come as early as Monday. On Monday a source said: "I don't think it's very long until we hear more."

Tepper must still be voted in by three-fourths of the league's current owners. That vote could take place at the NFL meetings in Atlanta May 21-23.

READ | 6 Things To Know About New Panthers Owner David Tepper

Tepper, a hedge fund manager who currently owns 5 percent of the Pittsburgh Steelers, is worth about $11 billion according to Forbes, and would pay for the deal in cash, according to a source.

NBC Charlotte reported earlier this month that the race was down to two bidders -- Tepper and Charelston's Ben Navarro.

Navarro, who's global financial services firm Sherman Financial is worth $2 billion, reportedly bid $2.6 billion on the team, and as of last week was still seeking limited partners to pitch in, even NFL legend Peyton Manning according to one report.

CLICK HERE: Get More Panthers News | Special Section on WFMY News 2 Triad Home of the Big Cats

Tepper's wealth, and league connections as a current minority owner, made him a strong candidate -- one that could easily pay for the franchise, and be voted in by the other league owners by the meetings.

At $2.2 billion, the sale of the Panthers would be the highest anyone has paid for an NFL team. The previous record was the $1.4 billion the Pegula family paid for the Buffalo Bills in 2014.

Tepper would become the NFL's second-wealthiest owner, behind Seahawks owner Paul Allen, who Forbes estimates to be worth $15 billion.

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