CHARLOTTE, N.C. – Miami-based hedge fund manager David Tepper is clearly on track to become the next owner of the Carolina Panthers.

On Tuesday afternoon, Ben Navarro -- one of the other serious bidders who was considered a finalist -- pulled out.

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In a statement, Navarro said, “It would have been a privilege to become stewards of this iconic franchise to ensure its home remains in the Carolinas, where it belongs…”

City council member Tariq Bokhari said from all he has heard, David Tepper wants to keep the team here as well.

“The guy sitting on top with the largest wallet is probably the one we wanted who will hopefully be making decisions with the long game in mind,” he said.

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A source close to Tepper told NBC Charlotte’s Nick Carboni that the subject of the stadium will have to be addressed but that’s down the road.

Bokhari said he can’t believe Tepper or any new owner would move the team.

“The rabid fan base, the PSL system we have, who would think it was a good idea or that a better deal could be had elsewhere from what already exists?” Bokhari said.