The Joe Pomp Show #235 How David Tepper Went From Hedge Fund Genius To The NFL’s Worst Owner
Nov 29, 2023
Exploring David Tepper's tumultuous ownership of the Carolina Panthers, his journey from hedge fund success to NFL team ownership, controversies and financial struggles, and the analysis of sports team ownership and performance in the billion-dollar sales market.
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Big-Money Entry And Local Move
- David Tepper bought the Carolina Panthers for a record $2.3 billion and moved to North Carolina to oversee the team.
- He then paid $325 million to bring Charlotte an MLS team, showing his initial hands-on, high-spend approach.
Hedge-Fund Skillset: Distress Debt Mastery
- David Tepper built Appaloosa by specializing in distressed debt and making concentrated, patient bets.
- His 2009 bets on banks paid off massively when government backstops preserved value.
Residency Move And Tax Impact
- Tepper moved his residence from New Jersey to North Carolina after buying the Panthers, then moved back to New Jersey later.
- Bloomberg reported he told New Jersey's governor he'd bring roughly $120 million in annual tax revenue when he returned.