David Tepper is the frontrunner to succeed Jerry Richardson as the owner of the Carolina Panthers, according to a joint report from the Charlotte Observer.
The hedge-fund billionaire, worth approximately $11 billion, has the most capital of any of the parties currently in the bidding, per the report.
Tepper was in Charlotte on Wednesday meeting with team officials.
While a deal is not finalized, it could be ready to be approved by the next set of owners’ meetings in Atlanta later this month and Tepper could be in line to be the only potential buyer that could receive approval.
According to CBS Sports’ Jason La Canfora, a finalized deal could be announced early next week and stated that he would be “shocked” if Tepper didn’t win the bidding.