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Sunday, April 14, 2024
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NFL’s Richest Team Owner Backs Private Equity Firm

Jeremy Brevard-USA TODAY Sports/Design: Alex Brooks

David Tepper, owner of the Carolina Panthers, is the founding investor of Andalusian Private Capital, a firm with roughly $800 million in assets that plans to invest in the media and sports sectors, among others. 

Tepper currently has the highest net worth of any NFL team owner: $14.5 billion.

  • In 2019, he agreed to pay $325 million to bring an MLS franchise to Charlotte. Charlotte FC is expected to begin play next year at Bank of America Stadium.
  • He was also part of a $1.78 billion financing round for “Fortnite” creator Epic Games.

Nearly 30 years ago, Tepper founded Appaloosa Management, an American hedge fund specializing in distressed debt. A number of other billionaire sports team owners share his interest in private equity.

New York Mets owner Steve Cohen created his first private-markets fund, Point72 Hyperscale, in 2020. Tony Ressler, owner of the Atlanta Hawks and minority owner of the Milwaukee Brewers, co-founded Apollo Management in 1990 and Ares Management in 1997.

For opportunities beyond direct investments, Andalusian created an affiliate called Andalusian Sports Partners that houses advisory and management services for “certain sports-focused investment funds.”

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