Offbeat NFL has no issue with David Tepper’s casino holdings

15:46  17 may  2018
15:46  17 may  2018 Source:

David Tepper finalizes deal to buy Panthers, report says

  David Tepper finalizes deal to buy Panthers, report says Tepper will have to sell his minority stake with the Steelers to take full ownership of the Panthers.Steelers minority owner David Tepper has finalized a deal to purchase the team, WBNG.

Viable names reported so far include billionaires David Tepper (by NFL Network) and Frank and Lorenzo Fertitta (by CBS’ Jason La Canfora), Ben Navarro and a group that includes Charlotte businessman Felix Patriots owner Robert Kraft reportedly has several casino -related holdings .

Billionaire hedge fund manager David Tepper has made a bid to buy the NFL ’ s Carolina Panthers for more than billion. But we hear that Frank and Lorenzo Fertitta, the owners of Station Casinos and Red Rock Resorts, are also considering a Panthers bid, and they have hired the Raine Group to

a box filled with different kinds of donuts © AP

The prospective owner of the Carolina Panthers owns a company that holds ownership interest in casino stock. That won’t keep David Tepper from owning the team.

Via Carleton English and John Kosman of the New York Post, the league has no issue with Tepper’s company, Appaloosa Management, holding ownership interests in Caesars Entertainment, MGM Resorts International, and Boyd Gaming.

“This was vetted to the satisfaction of ownership and was not an issue in 2009 when Mr. Tepper became a minority owner of the Steelers,” a league spokesperson told the Post.

Currently, owners can hold investments in casinos, as long as they don’t participate in the operation of them. That rule, and every other NFL rule regarding gambling, will need to be revisited given that the U.S. Supreme Court has opened the door to legalized gambling. Once teams are benefitted directly and indirectly from wagers on games, the traditional do’s and don’ts regarding gambling will need to be gutted.

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