Tuesday September 26, 2023
The Best Employers in Sports Survey is Now Open!

Carolina Panthers, Rock Hill Settle on Failed $800M Project

  • Rock Hill has agreed to a $20 million settlement with GT Real Estate Holdings.
  • The company went bankrupt while building a new Carolina Panthers headquarters in the city.
Partially built structure at Rock Hill Development, the proposed new practice facility of the Carolina Panthers
Carolina Panthers
Front Office Sports Today

Writer’s Strike End a Boon for Sports Networks, Agencies

We delve into the potential long-term impact of the five-month strike.
Listen Now
September 26, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

The saga of the Carolina Panthers and Rock Hill is finally nearing an end.

Rock Hill has agreed to a $20 million settlement with GT Real Estate Holdings, the David Tepper-owned company that went bankrupt in June while building a new Panthers headquarters in the South Carolina city. The figure equates to what the city invested in the now-defunct project.

If approved, the settlement will require both sides to drop their lawsuits blaming each other for the failed project. Rock Hill will receive the land designated for the abandoned $800 million plan, which is already on the market.

  • Tepper — who purchased the Panthers in 2018 for $2.3 billion — established the real estate company for the team HQ project, which would have included a 5,000-seat stadium and indoor practice center.
  • The company had already invested more than $170 million before filing for bankruptcy.
  • Tepper had paused construction in March when Rock Hill missed a payment toward infrastructure costs. 

Contractors would reportedly receive more than $60 million to settle their claims as part of the bankruptcy plan.

A confirmation hearing on the bankruptcy was originally scheduled for Wednesday but has been delayed until December. 

Court Calls

The settlement doesn’t mean GT Real Estate Holdings is done — York County, which gave the company $21 million for the development, reportedly claims to be owed more than $80 million

The county is not included in Rock Hill’s settlement proposal.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

WWE-Wrestling-Ring

Panini Picks Up Legal Win, Will Still Make WWE Trading Cards

New York judge denies WWE's bid for restraining order

Miami Is A New Soccer Hub With FIFA, Argentina Moves

FIFA is moving 100+ employees to a new South Florida office.
A Chicago Bears helmet.

Arlington Heights Looks To Break Stadium Logjam With Bears

Village board cites striking Bears deal as its top priority

Commanders Still Face Legal Fight Over Former Name

Team, owner accused by non-profit of defamatory conduct
podcast thumbnail mobile
Front Office Sports Today

Writer’s Strike End a Boon for Sports Networks, Agencies

0:00
0:00

Featured Today

NFL's Swift Mania Starting To Show Impact Through Merch Sales, Viewership

Taylor Swift stole the NFL's spotlight by attending Sunday's Chiefs game.
First Take vs. FS1
September 26, 2023

Sharpe: 'First Take' Would Still Beat 'Undisputed' Without Stephen A.

Even if Smith leaves, Sharpe said he will still beat Skip Bayless in the ratings.
Rob-Manfred-MLB
September 25, 2023

Oakland-MLB Relationship Devolves Into Next-Level Toxicity

Commissioner, mayor have very different accounts of July meeting
Jacksonville Jaguars Team President Mark Lamping addressed community members at Strings Sports Brewery on Main Street for the first of 14 planned town hall sessions to present the team's plans for the new "stadium of the future" complex and address the public concerns.
September 25, 2023

Jacksonville Jaguars President Walks Back Stadium ‘Threat’

"Viewing those comments as a threat to leave Jacksonville isn't correct."

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
It would be the most expensive school stadium ever built in Texas if approved.

A $94M High School Football Stadium Coming In Texas?

It would be the most expensive school stadium ever built in Texas.
The toy brand is opening NERF-themed action parks with battle blaster zones, obstacle courses, sports challenges, and retail.
September 22, 2023

Old-School Fun with a Modern Twist, NERF Delivers Playgrounds

Hasbro is launching NERF-themed entertainment venues in Tennessee and New Jersey.
September 21, 2023

FIFA, Kroenke Clash Over SoFi Stadium's World Cup Revenue Sharing

SoFi Stadium's hosting of World Cup matches may be in jeopardy.
Sports Illustrated's first college town resort will open near the University of Alabama in 2025 with a hotel, condominiums, fitness center, and other amenities.
September 21, 2023

Sports Illustrated Expands Its Footprint with College Town Resorts

SI's first sports-themed resort will open in Tuscaloosa, Alabama.
RFK
September 20, 2023

RFK Stadium Bill Advances in Congress

Congress' vote is the first step towards returning the NFL to D.C.
USL Championship side Oakland Roots home soccer field
September 20, 2023

As Sports Teams Exit Bay Area, Pro Soccer Gains Notable Win

The USL club Oakland Roots could be close to building a new stadium.
T-Squared Social joins PopStroke as golf entertainment venues backed by Tiger Woods.
September 20, 2023

Tiger Woods, Justin Timberlake Tee Off Sports Bar in NYC

T-Squared's Manhattan location includes a bowling alley and Full Swing simulators.
A general view of Robert F. Kennedy Memorial Stadium Stadium.
September 20, 2023

Political Support Grows for RFK Stadium Bill

The Commanders exited RFK after the 1996 NFL season for FedEx Field.