Billionaire David Tepper Set to Lose Millions After Carolina Panthers Heartbreak

The layoffs in the NFL teams are nowhere close to an end, as evident from the news about Carolina Panthers. The team that sits on the bottom of the table in the NFC South division, is changing the stakeholders this time in the hopes of a better future. While it might sound good to the layman, it comes with a bit of a kick. According to reports, Panthers’ owner, billionaire David Tepper is speculated to lose millions during the process.

The Panthers are grappling with a David Tepper problem. Regardless of the coach he brings in, the team struggles to achieve success. The Panthers never managed consecutive winning seasons, but they marked their initial two years as outstanding and achieved their first two consecutive playoff seasons in 2013 and 2014. However, after that, the team encountered challenges in the league. This season, the Panthers secured only one victory and suffered 10 defeats. In response to this, owner David Tepper has decided to dismiss the head coach once again.

David Tepper fired newly-appointed HC Frank Reich!

On Monday, Tepper announced that the team’s head coach Frank Reich had been fired from his role just 11 games into his tenure. Reich was brought in to replace Matt Rhule, who was terminated during the 2022 season after a record of 11 wins and 27 losses. When Tepper released Matt Rhule, the coach had $40 million remaining on his contract.

Now with the firing of Reich, the coach still has $30 million left on his contract. With this early termination, the 66-year-old owner is set to incur another loss of $30 million, adding to the $40 million loss during Rhule’s tenure. Tepper has now let go of three head coaches – Reich, Rhule, and Ron Rivera, and had to appoint three interim coaches (Chris Tabor, Steve Wilks, and Perry Fewell).

Read more: After Investing Over $2.5 Million in NFL & MLS, $16 Billion Worth David Tepper Tastes the Bitter Pain of Failure

So, by the time January arrives, the Tepper of the NFC South franchise will be seeking to hire his seventh head coach since 2018. But who is likely to fill in the shoes of Reich?

Former Panthers tight end could join as HC?

People might wonder why anyone would want the Panthers’ head coaching job, given the challenging owner, but being one of only 32 such positions in the league makes it appealing. Furthermore, the recent firings of Rhule and Reich, who had substantial remaining contract amounts, add to the intrigue.

Interestingly, former Panthers tight end Greg Olsen has emerged as a potential candidate, expressing interest if approached. However, Olsen doesn’t have much coaching experience. He has mainly coached his son’s Pop Warner team.

After his retirement in 2020, Olsen has been involved with the NFL in a different role, working in a broadcast booth.

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