South Carolina is opening an investigation into the Panthers’ owner

South Carolina is opening an investigation into the Panthers’ owner

Carolina Panthers owner David Tepper and his real estate company are under criminal investigation to determine whether they misused public resources in their failed attempt to build an NFL club’s training facility in South Carolina.

The York County Sheriff’s Office said state troopers and local prosecutors are cooperating in their investigation without any sense of commission of a crime.

“The investigation is only an investigation and should not lead to conclusions about wrongdoing by either party,” York County Sheriff Kevin Tolson and District Attorney Kevin Brackett said Thursday night in a statement. construction project.

Tepper denied any criminal wrongdoing and hinted that the timing of the announcement could be intended to prejudice the agreement the team reached with York County to return more than $21 million, an amount roughly equal to the money from sales. Impose a tax on the project to improve the roads around the facility.

This is a simple business matter that is completely resolved. Underlying disputes arise from contracts that were negotiated jointly by the parties and are available to the public. GT Real Estate, which is owned by Tepper, said in a statement that the resources contributed by the county are managed in accordance with the terms of the contracts.

Tepper, a hedge fund manager and one of the NFL’s richest owners, and the Panthers in 2019 announced an $800 million project to build a training facility, offices, a sports medicine complex, hotels and sports and entertainment areas near Rock Hill.

South Carolina and local authorities welcomed the investment and offered incentives, given the prospect of taking part of an NFL team away from North Carolina and Charlotte, with the team playing its games 25 miles (40 km) away. distance.

However, less than two years later, Tepper abruptly halted work on the facility before the steel construction was completed and filed for bankruptcy.

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