Panthers terminating Rock Hill project agreements

[Mr. Scot]

45 minutes ago, poundaway said:

He probably read your post in my reply.  Its a problem with the ignore feature.

Doesn't stop him from ignoring it

[poundaway]

2 minutes ago, Mr. Scot said:

Doesn't stop him from ignoring it

He didn't reply to you.  He replied to me.  Sheesh.

[Mr. Scot]

7 minutes ago, poundaway said:

He didn't reply to you.  He replied to me.  Sheesh.

To talk about me...

(rent free in his head)

See, our friend here has been told he's in danger of getting banned for spamming the same bullsh-t into every thread (Tepper this, Tepper that, dumb questions, unsupported statements, claims about reporters, etc) yet he still continues. Even stated recently that he feels like it's his mission to defend David Tepper on this board (as if Tepper would give a sh-t).

I've told him before how he can tone it down and not get himself banned, but he doesn't choose to listen.

Edited June 10, 2022 by Mr. Scot

[CRA]

28 minutes ago, poundaway said:

You didn't answer his question you just kept repeating what you've said over and over.

Why would Tepper undermine RH issuing the bonds?

my stance for months has been Tepper and RH are both to blame.   That's what he is argued against. 

His additional question, is really a completely seperate disscusion.  Did he intentionally implode the deal or was it just RH and Tepper both being idiots, trying to dupe the other, etc.   He doesn't have to be intentionally trying to sink the deal to simply share blame in the bond mess w/ RH. 

So pick a discusion. 

[poundaway]

7 minutes ago, CRA said:

my stance for months has been Tepper and RH are both to blame.   That's what he is argued against. 

His additional question, is really a completely seperate disscusion.  Did he intentionally implode the deal or was it just RH and Tepper both being idiots, trying to dupe the other, etc.   He doesn't have to be intentionally trying to sink the deal to simply share blame in the bond mess w/ RH. 

So pick a discusion. 

So you're saying Tepper messed up somehow and prevented RH from issuing bonds?

Whatever.

[CRA]

13 minutes ago, poundaway said:

So you're saying Tepper messed up somehow and prevented RH from issuing bonds?

Whatever.

I'll ask again, for RH to issue the bonds.....do they need Tepper at all to do that?   

Let's have the bond talk.  Where does the bond money actually come from.  Let's start there.  And I'll hold your hand to getting to Tepper.  And the accusations/problems.   It isn’t clear RH is all wrong and Tepper is completely innocent scenario.  Certainly can’t hold that position without Tepper answering some questions given the accusations he won’t answer. 

 

[Tbe]

3 hours ago, CRA said:

I'll ask again, for RH to issue the bonds.....do they need Tepper at all to do that?   

Let's have the bond talk.  Where does the bond money actually come from.  Let's start there.  And I'll hold your hand to getting to Tepper.  And the accusations/problems.   It isn’t clear RH is all wrong and Tepper is completely innocent scenario.  Certainly can’t hold that position without Tepper answering some questions given the accusations he won’t answer. 

 

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.
 

 

[frankw]

47 minutes ago, Tbe said:

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.

So he's as reactionary as the average huddler others complain so much about. Very encouraging.

[Carl Spackler]

Tepper is a scam artist. 

[Jon Snow]

This is a very bad look for Tepper.  He could easily spend 21 million on a lavish vacation with his wife and friends. So naturally he would let 21 million destroy the community he wants to support his franchise. 

Great look you pompous asshole. 

[Tbe]

19 minutes ago, frankw said:

So he's as reactionary as the average huddler others complain so much about. Very encouraging.

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.

[CRA]

1 hour ago, Tbe said:

 

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.

.
 

 

Also sounds like a point of contention was who would be left holding the bag on the bonds….if the project didn’t actually have the impact to the area it was initially said to be bringing.  

 

[Mr. Scot]

1 hour ago, Tbe said:

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.

Possible.

Either way, if Tepper comes out of this looking like a bad faith negotiator, it complicates any future requests he might try to make for public money.

Edited June 11, 2022 by Mr. Scot

[CBDellinger]

I’d wager that Tepper and co have their ducks in a row and that the politicians in Rock Hill do not.  Because business people tend to be good at business and politicians tend not to be good at anything that resembles business.