For Carolina Panthers owner David Tepper and the city of Rock Hill, S.C., it’s all over but the paperwork. Time to settle up!
In finally pulling the proverbial plug on what was to be an $800 million team headquarters, Tepper’s real estate arm—GT Real Estate Holdings—filed for bankruptcy on Wednesday. The move, of course, was cited in relation to the failed project—which has left about $170 million worth of steel sitting in the middle of the 240-acre property.
As a response to the move, York County shared a statement with WSOC-TV declaring their plans to recoup $21 million of debt from Tepper’s company—funds used to improve a section of the bordering Mt. Gallant Road:
“On Wednesday, GT Real Estate Holdings LLC, (GTRE) filed for bankruptcy protection. GTRE is the entity handling the acquisition and construction of the Carolina Panthers’ headquarters and practice facility in York County on behalf of the Carolina Panthers organization and David Tepper.
“York County Government is listed as one of the creditors in the bankruptcy action. GTRE entered into an agreement with York County to upgrade a section of Mt. Gallant Road, which borders the headquarters/practice facility property. York County contributed $21 million toward the Mt. Gallant project. We believe those funds will be returned in full with interest, and County taxpayers are protected. We were prepared for this action, and fully expect a positive outcome for our citizens.”
WSOC reporter Joe Bruno also added in a bit of his own legwork from the county on Thursday. In addition to giving us a look at the abandoned headquarters, he showed us what was on the menu at a local sandwich shop.
Spotted in the heart of Rock Hill pic.twitter.com/lmsoO5Dcsy
— Joe Bruno (@JoeBrunoWSOC9) June 2, 2022
Sounds . . . uh . . . tasty.
Future plans for the property are currently unknown as we await Rock Hill’s statement on the matter.
