Panthers’ practice facility dead after Chapter 11 filing
CHARLOTTE, N.C. (AP) - The Carolina Panthers’ proposed $800 million practice facility project in Rock Hill, South Carolina, is officially dead after team owner David Tepper’s real estate company filed for Chapter 11 bankruptcy protection in Delaware on Wednesday night.
Tepper, who made billions in hedge funds, is the NFL’s wealthiest owner.
The filing will not affect the NFL’s Panthers or Major League Soccer’s Charlotte FC in any way.
It’s unclear at this point what will happen to the half-built practice facility.
Tepper has invested more than $175 million into the facility, which is located about 25 miles south of the team’s current downtown stadium and headquarters in Charlotte, North Carolina.
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