© 2024 WFAE

Mailing Address:
WFAE 90.7
P.O. Box 896890
Charlotte, NC 28289-6890
Tax ID: 56-1803808
90.7 Charlotte 93.7 Southern Pines 90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Panthers' Rock Hill project officially dead as Tepper's real estate company files for bankruptcy

The Carolina Panthers posted this photo of a team development under construction in Rock Hill, South Carolina.
Lester Barnes III/Carolina Panthers
/
panthers.com
The Carolina Panthers posted this photo of a team development under construction in Rock Hill, South Carolina.

The Carolina Panthers’ proposed $800 million practice facility project in Rock Hill is officially dead after team owner David Tepper’s real estate company filed for Chapter 11 bankruptcy protection.

Tepper’s real estate company, GT Real Estate Holdings, said in a statement that it’s filed a court-led financial restructuring, which means there will be judicial oversight, to pave the way for a wind-down of the project.

Tepper stopped construction on the project in March. At a news conference in April, Tepper said the franchise would still support South Carolina through charity efforts.

"I'm just laughing about some people in the community, what they say about me. But no matter what they say about me, we will be there for the people of Rock Hill, supporting the community in different fashions," he said.

York County officials said in a statement Thursday that they believe the $21 million they’ve invested in the project will be returned in full with interest.

Rock Hill officials say they do not plan to make a statement until they’ve reviewed the bankruptcy filing.

Tepper has invested more than $175 million in the project, which is located about 25 miles south of the team’s current stadium and headquarters in Charlotte.

Correction: This story has been updated to report that Panthers owner David Tepper had a news conference in April. A previous version said the news conference was Wednesday.

Sign up for our daily headlines newsletter

Select Your Email Format

Jeanne previously worked at NPR member station WUGA in Athens, Ga., where she graduated from the University of Georgia with a degree in journalism. Jeanne grew up outside of Atlanta.