Carolina Panthers owner David Tepper has a lot on his plate as a business owner but is trying to limit those so he can focus more on the team. According to Thomas Frank of CNBC, Tepper is returning the capital of outside investors in his Appaloosa Management hedge fund back to the investors. In simpler terms, he is not going to be investing other peoples money for them, which will give him more time to focus on things for himself.
Tepper founded the Appaloosa Management hedge in 1993 and at points was having an almost 30% return on investment. Since buying the Panthers last year for $2.2 billion, he has wanted to focus more on the team, and this is the first step in making that happen.
Since buying the team, Tepper has purchased a house in Charlotte and has worked out a tax deal for the team's new practice facility in South Carolina. At some point, Tepper would like to renovate Bank of America Stadium and also hopes to get an MLS team in the near future.
Other owners also want Tepper more involved in things that have to do with the league because of his deal-making ability. As the NFL becomes more popular more things are going to need to be negotiated, like how gambling will affect the game and there is no doubt Tepper will be at the forefront of those deals.
Tepper getting out of the hedge fund business is bad for people invested in that but a very good thing for the Panthers and the NFL.
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