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Reports: Hedge fund manager to buy Carolina Panthers

Cam Newton of the Carolina Panthers.
Carolina Panthers quarterback Cam Newton. Photo by Layne Murdoch/Getty Images.

David Tepper, the billionaire co-founder of hedge fund Appaloosa Management, has won out to buy the Carolina Panthers football franchise, according to multiple reports. A deal could be formally announced as early as next week.

Backstory: Jerry Richardson, who has owned the Panthers since its formation, put the team up for sale last year amid allegations of sexual and racial harassment in the workplace.

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