In July of 2020, the Panthers broke ground on a new, state-of-the-art practice facility in Rock Hill, South Carolina, 25 miles south of their current headquarters at Bank of America Stadium in Charlotte. Two years later, the $800-million project has been scrapped with GT Real Estate Holdings, an LLC owned by hedge-fund billionaire David Tepper (who bought the Panthers from disgraced owner Jerry Richardson in 2018), officially filing for Chapter 11 bankruptcy.
Considered the richest owner in the NFL with a net worth of over $16 billion, Tepper had already sunk $175 million into the proposed, 600,000-square-foot facility with additional plans for a hotel, retail shops and a 5,000-seat outdoor amphitheater. Construction paused in March with the Panthers giving the city 30 days to come up with the funds necessary to keep building. That deadline came and went with the Panthers ultimately terminating their agreement with Rock Hill on April 19th.
It’s a disastrous outcome for all involved, with the Panthers pulling the plug on what was supposed to be their new training camp home with hopes of opening as early as 2023. The half-built facility leaves a bankrupt company and bitter resentment in its wake, all but destroying the team’s relationship with Rock Hill and its surrounding communities.
Viewed as a franchise savior when he arrived in Carolina, Tepper has been a surprisingly volatile presence, proving impatient in his dealings with both the Panthers and Charlotte FC, firing coach Miguel Ángel Ramírez 14 games into the latter’s inaugural season. It’s unclear where the Panthers go from here, though after their debacle in Rock Hill, you can bet taxpayers will think twice before greenlighting any subsequent projects attached to Tepper.
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