Panthers withdraw city, county deal over abandoned facility

COLUMBIA, S.C. (AP) — Carolina Panthers owner David Tepper’s real estate company wants to revoke a bankruptcy settlement it negotiated with the city and county where its abandoned South Carolina practice facility was supposed to be built because it says the governments are making exorbitant and unreasonable demands.

GT Real Estate Holdings had offered $21 million to York County. It suggested giving the proceeds from selling part of its site in Rock Hill so the city would get at least $20 million.

But the county and city have filed separate lawsuits and court papers. York County said it is entitled to more than $80 million in part to get back money from a special penny sales tax that was supposed to expand a road but Tepper’s company used for the proposed practice facility.

Rock Hill sued for $20 million it spent on the project and has asked the bankruptcy case be heard in South Carolina, where most of the people who lost money are located, instead of Delaware, where GT Real Estate Holdings is incorporated.

Tepper announced plans to build an $800-million practice facility in Rock Hill in 2019 to much fanfare, saying it would rival the NFL’s best — such as the Dallas Cowboys. South Carolina Gov. Henry McMaster and state and local officials aggressively pursued the NFL owner to move the Panthers headquarters across the state line from North Carolina, where they would continue to play games in Charlotte.

Less than two years later, Tepper’s company halted work, saying Rock Hill and York County didn't fulfill financing and other obligations. Both the city and county have denied the allegations.

York County’s lawyer didn't respond Wednesday to the latest bankruptcy filings. Rock Hill officials said the city is looking forward to the dispute being heard in court.

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