Tbe

Only the issuer would be holding the bag. Not like voters ever hold anyone accountable for past bond projects though.

Emotion is the only thing that explains how this went down. Nothing else makes sense. He’s sacrificing an entire state’s worth of fans and team competitiveness because RH wouldn’t pay $225 mill of the 800 mill price tag.

Too much of this entire thing doesn’t add up. Why would Tepper or RH deliberately tank such an important project? Doing so doesn’t benefit anyone. Something obviously happened that hasn’t been brought to light. What we know: RH didn’t issue the bonds despite lengthy extensions. RH was only obligated to do their best to issue the bonds. They didn’t have to back stop the debt or put their Aa3 credit rating at risk. Tepper agreed to this but we know the panthers were trying to get RH to backstop the debt after the contract was signed. At some point the panthers went to York county to try and leverage York’s AAA credit rating to help RH secure the debt. RH has not been including any financial info in freedom of information request responses. What are they hiding? Source: https://www.bizjournals.com/charlotte/news/2022/04/22/rock-hill-panthers-financing-dispute.html After Tepper paused construction, all efforts to revived the project centered around tax credits instead of debt or cash indicating that debt tied to a municipality was problematic. Reading between the lines, I think RH realized it couldn’t issue the bonds at the interest rate they wanted and/or without hurting their credit rating. Based on their contract with Tepper, they had the legal out. I bet they counted on him just eating it since the project was so far along. I think Tepper realized he was not going to get the money and pulled the plug out of anger. Not smart but in line with prior actions.

Slightly more detail… the lawsuit states. “The Tepper Defendants directed the misappropriation of $21 million of statutorily restricted, public funds from their stated purpose,the expansion of a roadway in York County, and improperly utilized these funds on their failed vanity project, the Carolina Panthers’ headquarters and practice facility. Rather than cover the ballooning project budget themselves, the Tepper Defendants took money from York County and its taxpayers.” Now in the lawsuit, York County blames both Tepper’s companies and Rock Hill for the $21 million loss. “Ultimately, the City of Rock Hill failed to issue the required bonds, the development project collapsed, and the City and the Tepper Defendants were left blaming each other for the failure,” the lawsuit states. “Both the City and the Tepper Defendants have harmed York County and its taxpayers, and the County should be made whole.“

https://www.wcnc.com/amp/article/sports/nfl/panthers/carolina-panthers-rock-hill-york-county-south-carolina-david-tepper-lawsuit-training-facility/275-ddfc7ac6-68e5-4cf2-94d8-2685e2be4967 The lawsuit also blames the city of Rock Hill for failing to issue the required bonds, leading to the project's failure. The suit states this led to Tepper and Rock Hill pointing fingers over whose fault it was, harming York County and its taxpayers.

If a rookie is pretty much on par with a guy going into his 5th year, you play the rookie. This isn’t hard.

Not if they release Sam.

That’s not true for everyone. A lot of guys do take big steps in the nfl. The issue is most guys don’t get playing time which means they don’t get better. Look at Bradberry. That guy shouldn’t have become anything. Small school guy who would have been drafted late if at all. Instead, he came here and became a starter because there was no one else. He got a full time role and tons of 1:1 coaching. A few years later he was the best corner in the league for a minute with a big contract.

The ‘process’ is just ‘try to get better everyday’. That’s it. No more substance than that. How does a nfl player and team get better everyday? Rhule has no idea.

https://www.wsoctv.com/news/local/real-estate-company-owned-by-david-tepper-files-bankruptcy/RRPFHAMRAJDF5CTJG37U2AVFJY/ A bankruptcy attorney who is not associated with this case told Channel 9 the public should expect the now-defunct practice facility site to be resolved faster as a result of this filing. “This is a process in which I think that will help expedite and whatever the project is going to be, property is going to be, you know, in the future,” John Woodman said. “This will help that process at least start a lot sooner rather than later.” It’s unclear at this point what will happen to the half-built practice facility. GTRE also announced that it has received a commitment for $20 million in financing from DT Sports Holding, LLC, subject to court approval, which will allow the company to fund a process to address its legitimate creditor claims, as well as to preserve, protect and enhance the Rock Hill site for the benefit of all stakeholders. The City of Rock Hill does not plan to make a statement until it has had a chance to review the bankruptcy filing Thursday, a city spokesperson said. The bankruptcy ends a bitter back-and-forth public disagreement between Tepper and the city of Rock Hill. “Everybody had their hopes high on the Carolina Panthers coming here,” Rock Hill Mayor Pro Tem Derrick Lindsay said. In the meantime, Rock Hill residents are left wondering how exactly it got to this point. “That’s just a billionaire’s ploy to get out of paying the people,” said Charlie Ruffalo, owner at Sub Station II. Ruffalo put up this message on his sign advertising, “The Tepper Sub: We quit on it halfway through.”

So the idea is to just get better? Wow…what an innovative strategy. I don’t think anyone on that team right now really knows what it takes to win. Matt certainly doesn’t.

It will probably end up being useful eventually. It will make that area way more attractive to home developers etc.

No, the city will end up ordering him to take it down. Similar to what fort mill is doing to the old Bakker tower. Could take years though.

Correct. Never understood why contractors don’t ask for the agreed funds to be put in escrow. Fronting $20 mill for a llc client with no assets seems stupid.

Depends on if the bankruptcy court forces him to sell the land to pay debts.

He is right. My father managed major construction projects most of his career. Bankruptcy of the holding corp is a standard contingency plan for projects like this. It’s not part of the plan if things go well, but it is part of the plan if they don’t. It’s rare for projects of this size to fail, but it has happened.

I guess. At least the largest contract that hasn’t been fully paid. It does explain all that talk about contractors and other workers moving down to RH for this project. If these local govs are going to give sweet deals to corporations, they should at least stipulate that local or regional suppliers and contractors be used.

So it looks like he’s disputing claims from York County, the architect, and the construction company out of PA. About to get uglier with York County.

I don’t blame Tepper for asking. I do blame the politicians for saying yes.

Rhule has his work cut out for him if he wants to convince fans that Sam is the best option. If it was the same system as last year, sure. But Sam has the skills of a late round rookie and no upside.

OTAs started yesterday.

He can take all the snaps away from Darnold that he wants. Since they both suck, I’d rather watch Cam. But yea, we need to see what Corral can do before we collect our top 5 pick next year.

Guy is bad luck for owners.

It could be useful if your LT sucks. Just switch your blindside to the right.

Yeah, we are not a QB away. At this pace, it will take rule 5 years just to get an 9-8 team. If he’s lucky.