Panthers owner David Tepper dumps plans for $800M South Carolina headquarters mid-construction, per report

A franchise quarterback is not the one factor the Panthers are struggling to safe. A month after halting building on $800 million state-of-the-art headquarters and coaching services in Rock Hill, South Carolina, staff proprietor David Tepper has pulled the plug on the complete venture, in response to WCNC Charlotte. Tepper’s GT Actual Property Holdings confirmed Tuesday that it might be terminating its settlement with the Metropolis of Rock Hill to finish the venture after a failure to resolve funding points.

The proposed new facility, whose building website had been left dormant, broke floor in 2020, simply two years after Tepper took possession of the Panthers. Designed to accommodate a virtually 700,000-square-foot facility on a 240-acre website, full with an indoor follow subject rivaling the Cowboys’ well-known Frisco, Texas, headquarters, the venture was first delayed resulting from COVID-19. In March, WCNC reported that Rock Hill did not safe $225 million in bonds to fund roads, sidewalks and different public infrastructure on the location, prompting Tepper’s firm to pause building.

Most lately slated for 2023 completion, the services now sit empty and half-finished, regardless of Panthers.com nonetheless promoting Rock Hill as the longer term dwelling to “not solely embrace a world-class sports activities complicated, but in addition … a real vacation spot website for the complete area, providing leisure, eating, retail, athletics and medical care.”

The staff stays indefinitely headquartered in Charlotte, North Carolina, with Tepper’s firm suggesting in an announcement to WCNC that additional conversations shall be had with Rock Hill to find out what lies forward.

“On February 26, 2021, the Metropolis of Rock Hill turned delinquent on their obligation to fund the general public infrastructure,” the assertion reads. “Regardless of our persistent efforts all through 2021, the Metropolis of Rock Hill did not difficulty the bonds or present the funding for the general public infrastructure for the venture … It’s unlucky that some lately determined to conduct a misguided, harmful public relations marketing campaign to obscure their failures. We’ve despatched notices to the Metropolis to formally terminate the earlier agreements. Accordingly, we’re ready to take a seat down with the Metropolis and different events to debate the numerous challenges forward.”