Ben Navarro is reportedly out of the running to purchase the Carolina Panthers.
According to ESPN.com's David Newton, "the sale is moving quickly in the direction of another candidate."
That candidate has been identified as Pittsburgh Steelers minority owner David Tepper.
Ian Rapoport @RapSheet
#Panthers owner Jerry Richardson has zeroed in on hedge fund manager David Tepper as the best candidate to buy the team, sources say. The deal is not done, but closing it out with Tepper is the sole focus. The long-time favorite is the only one who could be approved in Atlanta.
Citing a source, Newton reported that Navarro was informed "the process was not moving in his favor" over the past two days.
According to Forbes, Tepper—who is the president and founder of Appaloosa Management—has an estimated net worth of $11 billion and is classified as "arguably the greatest hedge fund manager of his generation."
Jerry Richardson, who founded the Panthers in 1993, put the team up for sale on Dec. 17, hours after Sports Illustrated's L. Jon Wertheim and Viv Bernstein published an explosive investigation that showed the 81-year-old made "significant" payments to at least four former employees in exchange for their silence regarding inappropriate workplace conduct.
According to the report, Richardson sexually harassed multiple female employees and used a racial slur when talking to an African-American scout.
Tepper, 60, is expected to receive a recommendation as the Panthers' next owner as soon as Monday or Tuesday, per Newton.