An inquiry is currently being conducted into Carolina Panthers owner David Tepper in relation to the team’s failed effort to construct a practice facility in Rock Hill, South Carolina.
For possible misuse of public funds, Tepper and his real estate firm GT Real Estate is under investigation. It is important to stress that this does not necessarily indicate that a crime was committed.
In a joint statement, York County Sheriff Kevin Tolson and Solicitor Kevin Brackett stressed that the investigation is merely an “inquiry” while both parties thoroughly investigate every facet of the failed multi-million dollar construction project.
According to Tolson and Brackett’s statement, which was obtained by Yahoo, “an investigation is merely an inquiry and should not create any inference that wrongdoing has been done by any party.”
For those who are unaware, Tepper and GT Real Estate filed for Chapter 11 bankruptcy protection in Delaware in June of last year, thus ending plans to build an $800 million Panthers practice facility.
According to reports, the team owner has invested more than $175 million in the venture. It happened after Rock Hill and GT Real Estate cut off their business relationship due to the city’s failure to issue bonds and keep its funding commitments.
— Andy Shain (@AndyShain) December 2, 2022
For its part, David Tepper’s real estate business has denied any involvement in the failed project. They also noted in a statement that the inquiry might be an effort to undermine an earlier arrangement they had with York County. The county had already brought legal action, alleging Tepper and the company misappropriated $21 million in sales tax funds intended for road improvements near the site.
“This is a simple business dispute that has been totally handled. The underlying conflicts are based on publicly available contracts that were drafted jointly by the parties. According to the conditions of those contracts, the money the county paid was handled, according to GT Real Estate.
Although the Panthers won’t be impacted by the criminal probe, it is unclear how it will go. The remainder of the team may now concentrate on their remaining games in 2022 and work to improve their 4-8 record.