Who Owns Carolina Panthers: Ownership Insights

The Carolina Panthers are more than just a football team; they represent the pride of North and South Carolina. Since joining the NFL in 1995, the Panthers have grown into a franchise with a loyal fan base, memorable playoff runs, and appearances in two Super Bowls. The team’s ownership story is a fascinating journey that reflects not only the evolution of the franchise but also the changing dynamics of professional sports ownership. Understanding who owns Carolina Panthers today provides insight into the business power driving the team’s future.

Carolina Panthers Profile

The Carolina Panthers are a professional football team representing both North and South Carolina in the National Football League (NFL). Based in Charlotte, North Carolina, the franchise has been part of the league since 1995 and competes in the NFC South division.

Known for their black, blue, and silver identity, the Panthers quickly established themselves as one of the most successful expansion teams in league history. With appearances in multiple Super Bowls, playoff runs, and a dedicated regional fan base, the Panthers have grown into a franchise valued in the billions. Beyond their on-field achievements, the team has also played an important role in uniting fans across two states and developing the Carolinas into a strong NFL market.

Founding and Origins

The Carolina Panthers are an NFL expansion franchise that represents both North and South Carolina. The team was founded in 1993. Its creation was led by Jerry Richardson, a former Baltimore Colts wide receiver and a successful businessman. Richardson formed a group called Richardson Sports, which included himself, his family, and business associates from the Carolinas.

From the start, the Panthers’ bid was notable for its emphasis on private financing. Permanent Seat Licenses (PSLs), luxury boxes, and club seating were part of the plan to finance the stadium without burdening taxpayers.

On October 26, 1993, the NFL owners unanimously awarded the Carolina Panthers the 29th franchise. The team’s first season followed in 1995.

The Panthers began play in 1995. Since their stadium in Charlotte (Bank of America Stadium) was under construction, the team played its home games at Clemson University’s Memorial Stadium, among other venues, early on.

In their inaugural season (1995), they posted a 7-9 record—impressive for an expansion team. It was one of the best debuts for a new NFL team for many years.

Over the next few years, the Panthers quickly rose within the league, showing competitiveness and building a fan base in the Carolinas.

Major Milestones

• 1993: NFL officially awards the franchise to Jerry Richardson and the Carolinas, marking the birth of the Panthers.
• 1995: Inaugural season. Panthers finish 7-9, one of the best debuts for an expansion team.
• 1996: Panthers post a 12-4 record, win the NFC West, and reach the NFC Championship Game in only their second year.
• 2003: Carolina wins its first NFC Championship and appears in Super Bowl XXXVIII, narrowly losing to the New England Patriots 32-29.
• 2005: The Panthers return to the NFC Championship Game after an 11-5 season but fall short of another Super Bowl appearance.
• 2008: Carolina records a 12-4 season and wins the NFC South but is upset in the playoffs by the Arizona Cardinals.
• 2011: Quarterback Cam Newton is drafted first overall, immediately revitalizing the franchise and winning NFL Offensive Rookie of the Year.
• 2013: The Panthers win the NFC South with a 12-4 record under head coach Ron Rivera, establishing themselves as contenders.
• 2015: Carolina posts a near-perfect 15-1 regular season, led by MVP Cam Newton. They win the NFC Championship but lose to the Denver Broncos in Super Bowl 50.
• 2017: Jerry Richardson announces plans to sell the franchise following workplace misconduct allegations.
• 2018: Billionaire David Tepper purchases the Panthers for $2.2 billion, becoming the team’s sole owner.
• 2019: Tepper expands his sports portfolio by bringing Major League Soccer’s Charlotte FC to the Carolinas.
• 2020: Tepper begins a major organizational rebuild, hiring Matt Rhule as head coach and reshaping the front office.
• 2021: The Panthers continue restructuring, with several roster moves and coaching changes highlighting Tepper’s active management style.
• 2022: Kristi Coleman is promoted to team president, becoming the first woman in franchise history to hold the role.
• 2023: The Panthers draft quarterback Bryce Young with the first overall pick, signaling a new era of development.
• 2024: The team undergoes more leadership shifts, preparing for long-term growth under Tepper Sports & Entertainment.
• 2025: Dave Canales is hired as head coach and Dan Morgan as general manager, marking a new chapter of rebuilding. The Panthers draft Tetairoa McMillan in the first round and extend Jaycee Horn with a record contract, signaling a commitment to future competitiveness.

Who Owns Carolina Panthers?

Ownership of the Carolina Panthers has gone through a major transition since the team’s founding. Today, the franchise is fully controlled by billionaire investor David Tepper, who purchased the team in 2018. Unlike many NFL franchises with multiple minority partners or family ownership groups, the Panthers operate under a sole ownership structure. This gives Tepper full authority over both business and football operations, making him one of the most powerful figures in professional sports. His leadership and financial strength continue to shape the team’s present and future direction.

David Tepper – Principal Owner and Controlling Authority

David Tepper is the sole owner of the Carolina Panthers. He acquired the franchise in May 2018 for $2.2 billion, which at the time was the highest price ever paid for an NFL team. His ownership was approved unanimously by other league owners, reflecting his financial credibility and business stature.

Tepper controls 100 percent of the franchise, unlike other teams that may have smaller shareholder groups or limited partners. This full ownership allows him to make independent decisions on coaching hires, player contracts, stadium developments, and long-term business strategy without the need for board approval or shareholder negotiations.

As of 2025, Tepper has invested heavily in modernizing the team’s operations. His influence extends beyond the football field, as he has spearheaded infrastructure upgrades, expanded the team’s training facilities, and pushed for broader integration under Tepper Sports & Entertainment, which also owns Major League Soccer’s Charlotte FC. His reputation as one of the richest owners in the NFL—worth around $20 billion—ensures that the Panthers have access to resources that many franchises cannot match.

Tepper Sports & Entertainment – Extended Ownership Ecosystem

Although David Tepper is the individual owner, the Panthers are part of Tepper Sports & Entertainment (TSE), his umbrella organization for all sports-related investments. TSE manages both the Panthers and Charlotte FC, creating a unified brand presence across football and soccer.

Through TSE, Tepper has centralized business operations, marketing, and stadium development. This broader structure allows the Panthers to leverage shared resources and infrastructure while also expanding the franchise’s reach in the Carolinas. By aligning the NFL and MLS teams under one ownership ecosystem, Tepper has created a sports empire in Charlotte that strengthens both fan engagement and revenue opportunities.

Carolina Panthers Ownership History

The ownership history of the Carolina Panthers reflects the evolution of the franchise from a locally founded expansion team to a billion-dollar sports organization under one of the wealthiest investors in the world. From Jerry Richardson, who brought professional football to the Carolinas, to David Tepper, who has turned the team into part of a larger sports empire, each era has shaped the Panthers’ identity and growth. Understanding this journey helps explain how the franchise has developed its culture, fan base, and business structure over three decades.

Jerry Richardson Era (1993–2018)

Jerry Richardson, a former Baltimore Colts wide receiver and co-founder of the fast-food chain Hardee’s, was the driving force behind bringing the NFL to the Carolinas. In 1987, he began pursuing the idea of an expansion team, forming Richardson Sports with local partners to bid for a franchise.

In October 1993, the NFL awarded the 29th franchise to Richardson and the Carolinas, making the Panthers the first new NFL team in nearly two decades. Richardson financed and oversaw the construction of what is now Bank of America Stadium, which opened in 1996. Under his leadership, the Panthers made early playoff appearances and eventually reached the Super Bowl in 2003.

However, Richardson’s tenure ended in controversy. In 2017, allegations of workplace misconduct surfaced, leading him to announce he would sell the team. This decision opened the door for new ownership and marked the end of the founding era.

Transition to Sale (2017–2018)

After Richardson’s announcement, the Panthers became one of the most sought-after franchises on the market. Multiple investor groups and celebrities showed interest, including hedge fund managers, athletes, and entertainment moguls.

The NFL required that any new owner hold at least a 30 percent controlling stake and demonstrate significant financial capacity. David Tepper, already a minority owner of the Pittsburgh Steelers, emerged as the strongest candidate. His financial background, NFL ties, and ability to pay in cash made him the league’s preferred choice.

In May 2018, Tepper officially purchased the Panthers for $2.2 billion, the highest price ever paid for an NFL team at the time. The sale was unanimously approved by NFL owners, ensuring a smooth transition of power.

David Tepper Era (2018–Present)

David Tepper took full control of the Panthers in 2018, becoming the sole owner of the franchise. Unlike Richardson, who was a former player and regional businessman, Tepper brought a global financial background and massive personal wealth.

Since acquiring the Panthers, Tepper has emphasized modernization and long-term growth. He has invested in upgrading Bank of America Stadium, expanded the team’s facilities, and brought in new executives and coaches to reshape the organization. In addition, he created Tepper Sports & Entertainment, the umbrella company that manages both the Panthers and Major League Soccer’s Charlotte FC, which he established in 2019.

As of 2025, Tepper’s ownership has positioned the Panthers not only as a strong NFL franchise but also as part of a larger sports ecosystem in Charlotte. His financial power and willingness to invest heavily in infrastructure and talent continue to influence the team’s direction and future ambitions.

David Tepper Net Worth

David Tepper is the wealthiest owner in the National Football League, with an estimated net worth of $23.7 billion as of September 2025. His fortune comes from a combination of hedge fund success, diversified investments, and ownership of professional sports franchises. This immense wealth not only makes him the richest NFL owner but also places him among the wealthiest individuals in the world.

Hedge Fund Success – The Foundation of Wealth

The backbone of Tepper’s fortune is Appaloosa Management, the hedge fund he founded in 1993. Tepper earned his reputation by making bold and contrarian investments, often buying distressed debt during downturns and profiting when markets rebounded. His most famous gains came during the 2008 financial crisis, when his bets on recovering banks generated billions.

Even though Tepper scaled down his hedge fund operations in recent years, the personal wealth accumulated over three decades continues to grow through reinvestments, keeping him at the top of the financial world.

Expanding into Sports Ownership

When Tepper bought the Carolina Panthers in 2018 for $2.2 billion, it set a record for the most expensive NFL franchise purchase at that time. Many analysts believed the price was high, but Tepper’s foresight proved correct. By 2025, the franchise’s value has nearly doubled, estimated at close to $4 billion, making it one of his most lucrative long-term assets.

His influence in sports ownership deepened in 2019 when he launched Charlotte FC, an MLS expansion team. The franchise has grown rapidly in popularity, tapping into the Carolinas’ soccer fanbase. Its value is estimated at more than $650 million by 2025, which is a remarkable rise in just a few years. Together, the Panthers and Charlotte FC fall under Tepper Sports & Entertainment, the umbrella company that manages his sports empire.

Tepper’s approach to sports is both financial and personal. He sees franchises as appreciating assets, but also invests heavily in infrastructure and facilities. For example, he funded major upgrades to Bank of America Stadium and committed to long-term plans for a new training complex. These moves strengthen not just the teams but also his grip as one of the most influential sports owners in the United States.

Real Estate and Diversified Assets

Beyond finance and sports, Tepper has built a wide-ranging portfolio in real estate and alternative investments. He owns luxury residences in New Jersey, Florida, and Miami Beach, where his properties rank among the most expensive in their neighborhoods. His Florida estate alone is valued at more than $70 million, reflecting his taste for high-end assets.

Tepper also invests in commercial real estate projects, including office spaces and mixed-use developments, particularly in the Carolinas, where his sports franchises are based. These investments not only expand his wealth but also create long-term community and business ties that reinforce his influence.

In addition, his private investment vehicles allow him to place capital into tech startups, energy companies, and financial instruments. This diversification helps protect his net worth against fluctuations in hedge fund markets and ensures steady growth.

Philanthropy and Public Standing

While Tepper is known as a tough and aggressive businessman, he is also a major philanthropist. Over the years, he has given more than $700 million to education, healthcare, and social causes. His largest donation went to Carnegie Mellon University, which renamed its business school the Tepper School of Business in recognition of his contributions.

In the Carolinas, Tepper has invested in local community initiatives through Tepper Sports & Entertainment. He has supported youth sports programs, education scholarships, and healthcare projects. His donations in South Carolina also included major funding for pandemic relief efforts.

Philanthropy also plays a strategic role in how Tepper is perceived. While his aggressive hedge fund style has sometimes drawn criticism, his charitable giving helps balance his image, positioning him as a business titan who is also committed to social impact.

Comparison with Other NFL Owners

When compared to his peers, David Tepper’s wealth sets him in a league of his own. His $23.7 billion fortune is far ahead of other prominent NFL owners:

• Stan Kroenke (Los Angeles Rams): ~$16 billion in 2025, largely from real estate and ownership of multiple sports teams worldwide.
• Jerry Jones (Dallas Cowboys): ~$14 billion in 2025, with most of his wealth tied to the Cowboys’ massive global brand.
• Robert Kraft (New England Patriots): ~$12 billion in 2025, built from the Patriots and diversified investments in paper manufacturing and real estate.
• Stephen Ross (Miami Dolphins): ~$17 billion in 2025, with fortune rooted in real estate development and related ventures.

Tepper’s unique edge comes from the liquidity and scale of his wealth. While many owners have fortunes tied up in team valuations or real estate, Tepper maintains vast financial resources from decades of hedge fund profits. This allows him to act without partners, debt, or outside investors. For the Panthers, this means he can outspend rivals in infrastructure, facilities, and long-term strategic investments.

Carolina Panthers Net Worth

The Carolina Panthers are one of the fastest-growing franchises in the NFL, with an estimated net worth of $6.4 billion as of September 2025. This marks an extraordinary increase from the $2.2 billion that David Tepper paid in 2018. The Panthers’ soaring valuation reflects the NFL’s explosive financial growth, strengthened fan engagement, and Tepper’s strategic investments in infrastructure and brand development.

Below is an overview of the net worth of the Carolina Panthers from 2015 to 2025:

Franchise Valuation Growth

When Tepper acquired the team in 2018, the Panthers were considered a mid-tier NFL franchise. In just seven years, their value nearly tripled. The increase is partly due to the NFL’s lucrative media rights deals but also to Tepper’s aggressive push to modernize the franchise. With enhanced stadium facilities, new revenue channels, and a broader brand reach, the Panthers are now one of the league’s most valuable assets.

Revenue Streams

The Panthers’ valuation is powered by diverse revenue sources:

• Media Rights: The NFL’s multi-billion-dollar contracts with Amazon, YouTube, ESPN, CBS, and NBC guarantee each team an enormous share of broadcast and streaming income.
• Ticket Sales and Stadium Income: Bank of America Stadium continues to sell out, with luxury boxes and premium seating significantly boosting revenue.
• Corporate Sponsorships: Partnerships with major corporations, naming rights, and official endorsements make up a large portion of recurring income.
• Merchandising and Licensing: With a growing fan base across two states, Panthers merchandise sales are strong, particularly when linked to star players and key seasons.

Stadium and Infrastructure Impact

Bank of America Stadium is both a financial and cultural anchor for the Panthers. Tepper has invested heavily in its renovation, adding advanced technology, premium seating options, and fan engagement areas. These upgrades increase revenue per game while improving the overall brand experience.

Plans for further infrastructure development, such as training facilities and mixed-use real estate projects, are expected to add significant long-term value. This strategy mirrors the approach of top NFL owners who leverage sports franchises as engines for broader business development.

Market Size and Fan Base

The Panthers occupy a unique position in the NFL by representing both North Carolina and South Carolina. This dual-state footprint enlarges their fan base, TV market share, and sponsorship opportunities. Charlotte, while not a top-five U.S. media market, has one of the fastest-growing populations, strengthening the Panthers’ long-term growth prospects.

The team’s digital expansion — including fan engagement through social media, streaming content, and mobile experiences — also helps extend the franchise’s presence beyond the Carolinas. This digital-first approach makes the team attractive to younger fans and international audiences.

Comparison with Other NFL Teams

At $6.4 billion, the Panthers have moved into the upper tier of NFL valuations, a dramatic rise from their previous mid-tier status. While they are not at the level of the Dallas Cowboys, who remain the most valuable franchise at around $9.2 billion in 2025, the Panthers’ growth trajectory outpaces many other franchises.

They now sit ahead of legacy franchises like the Pittsburgh Steelers and Denver Broncos, both of which are valued below $6 billion. The Panthers’ ability to triple their value in seven years makes them one of the fastest-appreciating assets in the NFL. Tepper’s dual ownership of the Panthers and Charlotte FC also strengthens regional brand power, giving him a business model few other NFL owners possess.

Who Controls the Carolina Panthers?

The Carolina Panthers operate under the ownership of David Tepper, who serves as the ultimate authority and controlling figure. As the team’s sole owner since 2018, Tepper has the final say on all football and business matters. However, the organization is structured so that leadership is shared across specialized executives who manage daily operations.

David Tepper – Principal Owner and Controlling Authority

David Tepper is the driving force behind the Panthers. His role extends far beyond financial ownership — he directly influences coaching hires, player acquisitions, and infrastructure investments. Tepper’s business style mirrors his hedge fund background, blending aggressive decision-making with a willingness to invest heavily in long-term growth.

Tepper also oversees Tepper Sports & Entertainment, the parent company that manages both the Panthers and Charlotte FC. This umbrella organization allows him to centralize control, making him the closest equivalent to a CEO in the Panthers’ structure.

Kristi Coleman – Team President and Business Operations Leader

On the business side, Kristi Coleman, appointed as team president in 2022, runs the Panthers’ day-to-day non-football operations. She is responsible for finance, sponsorships, ticket sales, marketing, and community engagement. Coleman also plays a key role in stadium development projects, ensuring Bank of America Stadium remains competitive with modern NFL venues.

Her leadership has strengthened the Panthers’ corporate partnerships and improved financial stability. She reports directly to Tepper, ensuring that business decisions align with his overall vision.

Dan Morgan – General Manager and Football Operations Chief

On the football side, Dan Morgan serves as general manager, taking over in early 2024. A former Panthers linebacker, Morgan brings both on-field experience and front-office expertise. He manages roster construction, draft selections, and contract negotiations.

Morgan collaborates closely with the head coach and reports to Tepper, but he holds significant influence over the team’s competitive direction. His leadership ensures that football operations remain professional and strategically aligned with Tepper’s expectations.

Decision-Making Structure

The Panthers’ organizational control can be understood as a three-tier system:

• Ownership Control → David Tepper makes ultimate decisions and holds final authority.
• Business Leadership → Kristi Coleman runs corporate operations and financial strategies.
• Football Leadership → Dan Morgan oversees roster and football operations alongside the coaching staff.

This system allows the Panthers to function like a corporation with distinct departments but keeps power centralized under Tepper’s ownership.

Past Leadership and Transition

Before Tepper’s era, the Panthers were run by executives under founder Jerry Richardson. Figures like Danny Morrison (2009–2017) and Tina Becker (2017–2018) handled CEO-style duties. After Tepper’s purchase, Tom Glick briefly served as president before Coleman was promoted to her current role. This evolution reflects the Panthers’ shift from a family-owned franchise to a corporate-style structure under Tepper Sports & Entertainment.

Conclusion

The Carolina Panthers’ journey from their founding under Jerry Richardson to the present-day leadership of David Tepper highlights the changing face of NFL ownership. Richardson brought professional football to the Carolinas and built the foundation of the franchise, while Tepper has provided the financial muscle and vision to shape its future. As Tepper continues to expand his influence in professional sports, the Panthers are positioned for growth on and off the field. The answer to who owns Carolina Panthers today reveals more than a name—it reflects the ambition and resources driving the team’s next chapter.

FAQs

Who owns the Carolina Panthers now?

As of 2025, the Carolina Panthers are owned by David Tepper, a billionaire hedge fund manager and founder of Appaloosa Management. Tepper purchased the team in 2018 and remains the sole owner and controlling authority. He also owns Major League Soccer’s Charlotte FC through his company, Tepper Sports & Entertainment.

Who bought the Carolina Panthers?

The Panthers were bought by David Tepper in May 2018 after founder Jerry Richardson decided to sell the team. Tepper paid what was then a record price for an NFL franchise, securing complete control of the team and its operations.

How much did David Tepper pay for the Carolina Panthers?

David Tepper purchased the Carolina Panthers for $2.2 billion in 2018. At the time, this was the highest price ever paid for an NFL franchise, reflecting both the growth of the league and the value of the Charlotte market.

Who was the first owner of the Carolina Panthers?

The first owner of the Carolina Panthers was Jerry Richardson, a former NFL player and businessman. He founded the franchise in 1993 when the NFL awarded Charlotte an expansion team. Richardson owned the team until 2018, overseeing its rise to two Super Bowl appearances during his tenure.

Does P. Diddy own the Panthers?

No, P. Diddy (Sean Combs) does not own the Carolina Panthers. In 2018, he publicly expressed interest in buying the team after Jerry Richardson put it up for sale. However, he did not submit a formal bid. The franchise was ultimately sold to David Tepper.

Who is David Tepper daughter?

David Tepper has three children, including a daughter named Casey Tepper. While Tepper keeps much of his family life private, his children have occasionally been mentioned in media reports. Unlike Tepper, they are not directly involved in running the Carolina Panthers or his other business ventures.