Panthers terminating Rock Hill project agreements

[CRA]

2 minutes ago, Tbe said:

The only source I’ve seen on that is the city manager (who once said RH had already met all financial responsibilities) and that was a month ago. I haven’t seen that claim being made since from anyone else. If it was true, you’d think these politicians would be milking it for all its worth.

 

I mean, the city manager and mayor were the ones making the claim.  They would be the people you look to hear from on such.   What better sources would you look for on the RH position? 

They made the claims when Tepper paused it and went dark.   Things got quiet again until today.  I would assume in the coming days, weeks, months we will here more from different people.   

Again, the hope a deal gets completed is going to prevent a lot of things from being said.  It would sabotage things.  And they probably were flirting with that during that window after the pause.  Which I think was addressed publically too that it wasn't smart at the time to be doing such. 

 

[Tbe]

1 minute ago, CRA said:

I mean, the city manager and mayor were the ones making the claim.  They would be the people you look to hear from on such.   What better sources would you look for on the RH position? 

They made the claims when Tepper paused it and went dark.   Things got quiet again until today.  I would assume in the coming days, weeks, months we will here more from different people.   

Again, the hope a deal gets completed is going to prevent a lot of things from being said.  It would sabotage things.  And they probably were flirting with that during that window after the pause.  Which I think was addressed publically too that it wasn't smart at the time to be doing such. 

 

I’m skeptical that is true because of how fast RH went dark and how fast York swooped in to broker a new deal.  Why do that if the Panthers are at fault?

See my last post. RH issued a statement today that doesn’t mention any of that. They seem to be saying no one would buy the bonds.

Everything around RH’s side of the story is strange.

[NanuqoftheNorth]

2 hours ago, rayzor said:

what a waste of land and resources.

Meh, the land won't go to waste.  A smart developer can repurpose the building if needed. 

I don't see a financial downside for Dave. 

He now owns a large amount of acreage in a fast going region.  Chances are he'll make out like a bandit if he waits a few years before selling it.  

The City of Rock Hill will likely be forced to make good on their contractual obligations or compensate Tepper for his losses. 

The biggest downside for Tepper is he has likely burned some bridges with powerful politicians in the region. 

Rock Hill residents will likely be the biggest losers in this fiasco.  Gonna suck to watch local tax dollars going into a billionaire's pockets and getting nothing in return.

[Rubi]

Tepper sucks so much. this dude is just stepping in piles one after the other. Lol really? 

[CRA]

10 minutes ago, Tbe said:

I’m skeptical that is true because of how fast RH went dark and how fast York swooped in to broker a new deal.  Why do that if the Panthers are at fault?

See my last post. RH issued a statement today that doesn’t mention any of that. They seem to be saying no one would buy the bonds.

Everything around RH’s side of the story is strange.

I don't disagree with that.  I think RH will look very bad in the end.  Maybe the county and state too. 

I just don't think Tepper is in a position where he should automatically be excused from any fault at this moment.  That's really my only stance here. The whole thing is too big of a mess for me to think it is all RH (given the county and state where allies to them). Tepper has gone dark too for some time.  More so than anyone else.   They generally have refused to answer legit questions too. 

[TheSpecialJuan]

Quote

Frankly, there’s a good chance Tepper is playing high-level hardball with Rock Hill as a shot across the bow at Charlotte. The hard bargain Tepper has chosen to drive in South Carolina could be a precursor to the hard bargain he’ll drive in North Carolina.

Maybe that’s why Tepper seems to be untroubled by the current situation. His deeper message could be far more pointed.

Give me what I want, or I eventually will be gone.

https://profootballtalk.nbcsports.com/2022/04/05/deal-between-panthers-rock-hill-is-literally-on-the-rocks/

[Tbe]

16 minutes ago, CRA said:

I don't disagree with that.  I think RH will look very bad in the end.  Maybe the county and state too. 

I just don't think Tepper is in a position where he should automatically be excused from any fault at this moment.  That's really my only stance here. The whole thing is too big of a mess for me to think it is all RH (given the county and state where allies to them). Tepper has gone dark too for some time.  More so than anyone else.   They generally have refused to answer legit questions too. 

Tepper is at fault for thinking a little podunk town with debt problems would actually come through.

My main stance here is people need to stop focusing on the billionaires in cases like this. They only get tax payer money if your elected leaders give it to them. Stop giving the NFL tax money!

RH wants people to blame Tepper for all of it to hide their own mismanagement.

The blame needs to be on the politicians ultimately for enabling this racket.

[CRA]

14 minutes ago, Tbe said:

Tepper is at fault for thinking a little podunk town with debt problems would actually come through.

My main stance here is people need to stop focusing on the billionaires in cases like this. They only get tax payer money if your elected leaders give it to them. Stop giving the NFL tax money!

RH wants people to blame Tepper for all of it to hide their own mismanagement.

The blame needs to be on the politicians ultimately for enabling this racket.

I'm not attempting to draw heat away from politicans.  They need to get what they get. 

But I also feel like some are too dimissive of what Tepper's potential role might be in this mess.  It takes two to tango.  Tepper isn't just a billionaire.  He is one of the richest men in America.  A mega billionaire.  It's guys like him that help create so many problems in this country.  Tepper knew and knows what he is doing.   

But rightfully blasting politicans doesn't mean you need to defend Tepper in the process.  He is the same type guy that our society needs to hold accountable IMO. 

[SizzleBuzz]

47 minutes ago, Tbe said:

Official statement from RH.

Are they saying they tried to issue bonds but no one  bought them?

The City met all obligations required under the agreements. The City did not commit to provide unlimited City backstop, but instead agreed to use its best reasonable efforts to issue bonds to be repaid by the increase in the tax revenues generated from development of the site which protects the City’s taxpayers and the City’s favorable financial position. 

As set forth in the parties’ finance agreement, the City was not required – to pledge, use or contribute any City funds, revenues or assets to the repayment of the Bonds beyond the Panthers Fund Proceeds, Reserve Funds derived from proceeds of the Bonds, together with capitalized interest, if any, or [municipal improvement district (MID)] assessments imposed in accordance with the MID Governing Documents; and … the City’s reasonable best efforts to issue Bonds shall not be construed as an assurance or guarantee by the City that there will be a buyer for any of the Bonds.

Yup, that’s exactly what they are saying…

…problem is there’s always a buyer if the coupon is fat enough…

…they just couldn’t get terms they found suitable so bailed.

[SizzleBuzz]

9 minutes ago, CRA said:

But I also feel like some are too dimissive of what Tepper's potential role might be in this mess. 

How is he at fault?

 

10 minutes ago, CRA said:

He is the same type guy that our society needs to hold accountable IMO. 

Accountable?  For what?

[poundaway]

4 minutes ago, SizzleBuzz said:

How is he at fault?

We don't know yet.  We don't have the facts, but CRA is sure that there will be facts, because you know, facts.

[poundaway]

16 minutes ago, CRA said:

I'm not attempting to draw heat away from politicans. 

That is exactly what you are doing.

Facts.

[thefuzz]

16 minutes ago, CRA said:

I'm not attempting to draw heat away from politicans.  They need to get what they get. 

But I also feel like some are too dimissive of what Tepper's potential role might be in this mess.  It takes two to tango.  Tepper isn't just a billionaire.  He is one of the richest men in America.  A mega billionaire.  It's guys like him that help create so many problems in this country.  Tepper knew and knows what he is doing.   

But rightfully blasting politicans doesn't mean you need to defend Tepper in the process.  He is the same type guy that our society needs to hold accountable IMO. 

For what exactly though with this situation?

What has he done illegally?  This is what happens when private companies, and the public do business.  This all goes away if the politicians are held accountable.  Poof...and it's gone.

Tepper is a piece of crap, but we knew that before....Rock Hill played a dangerous game, and it's going to backfire on them.

 

PSSSSSST...politicians, stop giving rich people tax payers money.

[CRA]

1 minute ago, SizzleBuzz said:

How is he at fault?

Accountable?  For what?

We know a fraction of what has happened.  A small fraction.   And yet you want everyone to quickly deem him 100% not at fault for this giant clusterfug.    Yeah, I'm not in a rush to make such a giant delcaration. 

and yeah, that last comment was the mega wealthy in general and how their dance with our governments.  They cause tremendous problems in this country.   And I they are problem just like the elected politicans.