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NFL owners expected to vote on David Tepper's purchase of Panthers

David Tepper is expected to be voted in as the new owner of the Carolina Panthers. But before he can take control of the team, there's still some business to take care of.

ATLANTA – Hedge fund manager David Tepper could become one step closer to officially becoming the new owner of the Carolina Panthers Tuesday.

The owners of every NFL franchise are meeting in Atlanta as part of the league’s spring meeting, and they’ll vote on whether to allow Tepper purchase the team from Jerry Richardson. Last week, Tepper and Richardson reached an agreement for Tepper to buy the team for a reported $2.2B.

But before Tepper can completely take over, there are still a few small hurdles to clear.

First, the NFL’s finance committee, which is made up of nine team owners, will meet and discuss Tepper’s finances. During this tedious process, the committee will be allowed to grill Tepper about his financial standing to determine if he meets the league’s requirements to own a team.

From there, Tepper will go before the current owners for approval. To be approved, he must earn 24 of 32 owners’ approval. NBC Charlotte has been told that Tepper’s approval is expected to be unanimous, which isn’t surprising, given that he’s been a minority owner of the Pittsburgh Steelers for nearly a decade.

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That vote from the owners is expected to take place around 1:30 Tuesday afternoon.

Once Tepper gets the approval from the NFL owners, there’s one last bit of business to take care of, and that’s the waiting process. Because of the Hart-Scott-Rodino Antitrust Improvements Act, Tepper won’t legally become the owner of the Panthers until July, which will also require him to sell his stake in the Steelers.

Tepper arrived in Atlanta Monday evening with a big smile on his face and said he was “very excited” about what Tuesday has in store, but he couldn’t go into detail.

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