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Sale of NFL franchise Carolina Panthers finalized

iStock/Thinkstock(CHARLOTTE, N.C.) -- Hedge fund billionaire David Tepper finalized a deal to purchase the Carolina Panthers of the NFL for $2.275 billion, according to an ESPN report.

The franchise's former owner and its founder, Jerry Richarson, finalized the sale after he was fined $2.75 million for sexual and racial workplace misconduct on June 28. Allegations of the inappropriate behavior surfaced in late 2017. Shortly after the public learned of the allegations, it was announced Richardson would sell the team.

Tepper said in a statement:

"I am thrilled to begin this new era of Carolina Panthers football and am humbled by the overwhelming excitement and support for the team. On behalf of the fans and myself, I thank Jerry Richardson for bringing the team to the Carolinas and for entrusting me with its future."

Richardson also released a statement on behalf of he and his wife Rosalind:

"[We] are grateful to the Carolina community for the love and support you have shown your Panthers. Your enthusiasm for football and devotion to the team has been a source of strength for us and for everyone who calls the Carolinas home."

Tepper has now taken over the day-to-day operations of the team.

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