Demolition crews started tearing down the unfinished Carolina Panthers headquarters and practice facility on Friday, the city of Rock Hill said
Panthers owner David Tepper put the brakes on the $800 million project off Interstate 77 almost a year ago, after financial disputes with the city of Rock Hill and York County over public money for the facility. The entity building the facility soon went into bankruptcy, and the half-finished steel skeleton has stood untouched since.
Tepper’s company settled with York County, Rock Hill and contractors over their unpaid construction bill. The company that’s demolishing the structure is doing so for free, in exchange for keeping the steel and other materials there. The process is expected to take several months.
"They plan to begin with the smaller structures and will disassemble the buildings one by one," said Rock Hill spokeswoman Katie Quinn.
A federal judge in Delaware approved the company's bankruptcy plan in December. The company had already spent more than $175 million on the project when construction ended.
Under the terms of the bankruptcy settlement, GTRE — the Tepper-affiliated company behind the project — Rock Hill and York County dropped dueling lawsuits. York County received $21 million, and contractors owed money from construction received $60.5 million to settle their claims.
The 245-acre site, now owned by the city of Rock Hill, is still listed for sale. Rock Hill will keep the proceeds if and when the site sells.
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