Sunday December 3, 2023

Tepper Drops Another Project, Pulls Out of Charlotte FC Development

  • Tepper Sports & Entertainment dropped out of a project in Charlotte's Eastland Mall.
  • The company had designs on facilities for Charlotte FC.
Bob Donnan-USA TODAY Sports
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Things are not business as usual at Tepper Sports & Entertainment.

The owners of the Carolina Panthers and Charlotte FC have pulled out of a public-private partnership at Charlotte’s Eastland Mall. 

The company was slated to build a headquarters and training facility for Charlotte FC, the club’s academy and its MLS Next Pro team.

  • A TSE spokesperson told Front Office Sports that “the timeline for the Eastland project posed challenges that led us to research expedited alternatives.”
  • He added that TSE continues “to have discussions with the city of Charlotte.”
  • TSE was to oversee the development of 20 acres within the mall.

The Eastland Mall project will proceed in redeveloping the site with retail, restaurants, commercial, and residential buildings. 

Trouble in Tepper Land

TSE has faced a number of recent challenges, particularly related to a planned $800 million facility that was to house fields, a 5,000-capacity stadium, and indoor practice center.

TSE pulled the plug on the project and David Tepper’s real estate company, GT Real Estate, filed for bankruptcy. GT Real Estate had already invested $170 million in the facility, and York County chipped in $21 million. The county is now seeking to be reimbursed.

The company has also seen two high-profile executives depart recently. CEO Nick Kelly left in May after only three months on the job, and this week COO Mark Hart followed him out the door.

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