It is all about money.
David Tepper, who owns the National Football League’s Carolina Panthers franchise and is thought to be the NFL’s richest owner, has halted construction of his planned Rock Hill, South Carolina football training facility. Rock Hill may not have money for the project, although city officials claimed they have met financial obligations. Tepper’s spokesperson said, “we are committed to bettering the Carolinas community that supports our team and players. To that end, while GT Real Estate Holdings, LLC has invested more than $170 million into the development in Rock Hill, our partners have been unable to contribute the agreed upon investment to fund the construction of the public infrastructure. Given the economic realities, the difficult but prudent decision has been made to pause the project.”
In 2019, Tepper 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 is funding, will include two practice fields and an indoor practice facility that could seat 10,000 people. The Panthers complex will be off Interstate 77. 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 keeps his employees state income tax and can use that money to build his team’s headquarters. The first part of the facility was supposed to have been done in the early part of 2023. Now there is the will it be completed question.
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