Tepper has momentum.
David Tepper is on a winning streak of one. Now he is looking to win another game, get North Carolina politicians to fund a new stadium for his business. Tepper, who owns the National Football League’s Carolina Panthers franchise and is thought to be the NFL’s richest owner, persuaded South Carolina elected officials to give him $115 million to help move his team’s headquarters and practice facility from North Carolina to South Carolina. South Carolina really wanted Tepper’s Panthers business because it might be an economic revenue generator. The state offered tax breaks and incentives over a 15-year period if Tepper took his business to York County, South Carolina. The new facility, which Tepper will fund, will include two practice facilities and an indoor practice facility that could seat 10,000 people. The facility will be off Interstate 77 and right now there is no way of accessing the site from the highway but have no fear, an interchange will be built to help Tepper’s business. The cost? $40 million, half of which will be funded by federal taxpayers, the rest by local taxpayers. Tepper will keep his employees state income tax and will use that money to build his team’s headquarters.
But now there is a bigger prize. A new stadium not just for Tepper’s NFL team but a nonexistent Charlotte Major League Soccer franchise. Tepper really doesn’t want to spend money as he told Sports Business Daily. “At some point, I would make a big investment if I could get the state and others on board in a new stadium that would be great for soccer and great for football. The economy’s big enough for a revenue tax, a hotel revenue increase that would go a long way to help pay for a new stadium.” Tepper is looking for other people’s money to build his factory for his NFL team and his right now non-existent soccer team.