Panthers settle practice site suit for $100 million

[Waldo]

Because innocent people always settle for a $100 million dollars...

That is some mental gymnastics right there. Also avoiding the fact Tepper is still under investigation for his bisiness practices in this deal is very convenient. 

We still have nothing more than a practice bubble for $175 million wasted but Teppermagic...

[Cullenator]

"innocent"

just fuging lol

I guess people who pull out of buying houses and give up good faith money are now to be considered "guilty" by this new standard.

 

Its a business deal people.  One of those ones where no side is completely happy meaning its probably fair.  And while 100mil is a metric fug tonne of money to folks who post here, in the context of business at that scale its a nuisance fee that will be used to offset profit liability come tax day.

Edited December 17, 2022 by Cullenator

[gofightwin]

12 hours ago, KatsAzz said:

That is my question as well? How much was the total amount of money that Tepper lost on this blown project?

It’s not all “lost” money. The property is already for sale with a new interstate exit to add connectivity. The land now has infrastructure. The land is worth a lot more than he paid for it. Enough to make up for the full amount spent on the actual structure? Probably not but he isn’t just going lose everything he spent on it.  I’m sure he will sell the golf course he bought down there too. 

[KatsAzz]

8 minutes ago, gofightwin said:

It’s not all “lost” money. The property is already for sale with a new interstate exit to add connectivity. The land now has infrastructure. The land is worth a lot more than he paid for it. Enough to make up for the full amount spent on the actual structure? Probably not but he isn’t just going lose everything he spent on it.  I’m sure he will sell the golf course he bought down there too. 

Thanks for clearing that up. Most reports about what happened are not as concise as yours were.

[GuessWhosBack]

20 hours ago, JVic said:

For those keeping score, that's $62M on a shitty coach, $89M on shitty QBs and $100M on a shitty piece of land since Tepper has taken over.  How in the ef you see kay did he become a billionaire? 

To a multi billionaire that's like two hundred n sumthing dollars, so he basically bought a ticket to this Sunday's Game vs the Steelers...

[Mr. Scot]

19 hours ago, frankw said:

You don't shell out 100 million bucks for doing nothing wrong. What an epic embarrassment.

The last figure I had heard was 20 million.

How the hell did it get to a hundred million?

[Krovvy]

How are fans still boot licking?

[Tbe]

33 minutes ago, Mr. Scot said:

The last figure I had heard was 20 million.

How the hell did it get to a hundred million?

20 million to RH

21 million to York Co

60 million to contractors 

[Tbe]

8 hours ago, Waldo said:

Because innocent people always settle for a $100 million dollars...

These were bankruptcy proceedings. Just deciding who’s debts get paid etc. Not lawsuits where damages were awarded.

[Waldo]

8 minutes ago, Tbe said:

These were bankruptcy proceedings. Just deciding who’s debts get paid etc. Not lawsuits where damages were awarded.

Inncocence can still apply to civil suits? Think the better terminology would be not liable i guess. Same difference but yes I understand that the court system is more than just criminal court system.

 

[Tbe]

49 minutes ago, Waldo said:

Inncocence can still apply to civil suits? Think the better terminology would be not liable i guess. Same difference but yes I understand that the court system is more than just criminal court system.

 

There’s no liability in bankruptcy court. Think divorce court for businesses. No guilt, innocence, etc. Just who gets the dog, house, etc.

[Waldo]

27 minutes ago, Tbe said:

There’s no liability in bankruptcy court. Think divorce court for businesses. No guilt, innocence, etc. Just who gets the dog, house, etc.

In civil court. He was being sued. This was settlement so he could peoceed with bankruptcy proceedings. The lawsuit from York county was a civil suit.

[onmyown]

To put this very simply - this was a settlement to avoid liability/lawsuits. That doesn’t mean at all the premise for wrong doing wasn’t there, in fact quite the obvious for the basic reason that people in the right don’t settle.

Why would they? It would cost a poo ton less even with the best lawyers to prove you’re in the right legally. In fact, probably 5% or less.

But some here can’t read between lines and think a savvy  businessman who’s made financial decisions with otherworldly precision his whole life said fug that I will pay 95% more than I have to because ?…THE Rock Hill SC politicians and media? Lol

Y’all must live a rough and confusing life.

And he’s still under investigation for fraud which unless there is a go getter straight shooter running that (and anyone above him as well), will probably be paid off (or has in a way, already).

Edited December 18, 2022 by onmyown

[Panthercougar68]

18 minutes ago, onmyown said:

And he’s still under investigation for fraud which unless there is a go getter straight shooter running that (and anyone above him as well), will probably be paid off (or has in a way, already).

He’s actually not because I have it on good authority they have closed the investigation and just haven’t announced it yet.

@Snakehas been pretty dead on about this whole thing in general and how it’s mostly Rock Hills fault.