An NFL Team owner is handing off millions for an incomplete practice facility in the Upstate. Carolina Panthers owner David Tepper’s real estate company has proposed to pay more than than $82 million to creditors over an abandoned $800 million practice facility project in Rock Hill.
Tepper’s company GT Real Estate Holdings filled for Chapter 11 bankruptcy in Delaware on June 2. Under this plan, GTRE would resolve claims by paying $60.5 million in cash funded into a settlement trust for contractors and others, $21.1 million to York County and $20 million or more to the City of Rock Hill.
Tepper, one of the NFL's richest owners, had invested more than $175 million in the half-built facility. The plan requires approval from courts and creditors.