Panthers CEO David Tepper under investigation after South Carolina academy fails


The York County Sheriff’s Office in South Carolina has opened an investigation into the use of public funds by Carolina Panthers CEO David Tepper and his company, GT Real Estate, following the failure development of the team’s training center in Rock Hill, South Carolina.

York County Sheriff Kevin Tolson and 16th Circuit Attorney Kevin Brackett released a joint statement on the matter via Post and Courier Rock Hill.

“An investigation into the circumstances surrounding the transfer and subsequent use of public funds by Carolina Panthers owner David Tepper and GTRE, the company created to oversee the construction of the Panthers training facility, has been opened by the York County Sheriff’s Office to determine if any laws were violated during this process.The Attorney General, Attorney Kevin Brackett’s Office and the State’s Law Enforcement Division have partnered with us to provide additional resources and assistance and we will work together to ensure that all relevant information is gathered so that a fair process and just an outcome can be achieved.”

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David Tipper
(Jacob Kupferman/Getty Images/File)

“An investigation is simply an investigation and should in no way infer that wrongdoing has been committed by any party.”

The Panthers did not immediately respond to an inquiry into Fox News Digital’s investigation.

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The City of Rock Hill and GTRE tentatively agreed to a $20 million settlement over the training center failure in November after a judge ruled the confirmation hearing would take place in mid-December, according to WCNC Charlotte. By doing so, GTRE’s bankruptcy case would be decided before 2023.

However, York County failed to reach an agreement in the bankruptcy case as their lawyers were asking a judge to push back the confirmation hearing until next year in order to build a case.

Carolina Panthers team owner David Tepper attends warm-ups before the game against the Atlanta Falcons at Bank of America Stadium on December 12, 2021 in Charlotte, North Carolina.

Carolina Panthers team owner David Tepper attends warm-ups before the game against the Atlanta Falcons at Bank of America Stadium on December 12, 2021 in Charlotte, North Carolina.
(Grant Halverson/Getty Images)

The settlement requires Rock Hill and GTRE to drop their respective lawsuits against each other.

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The Panthers facility was to be built on a 240-acre site, but Tepper never finished. The site went on sale in early October.

WCNC Charlotte added that the agreement prioritizes Rock Hill to take over the GTRE-owned site. In the event of a sale, Rock Hill keeps $20 million and South Carolina State Representative Gary Simrill said in November there had been early interest.

Carolina Panthers owner David Tepper looks on during the first half against the Arizona Cardinals at Bank of America Stadium on October 2, 2022 in Charlotte, North Carolina.

Carolina Panthers owner David Tepper looks on during the first half against the Arizona Cardinals at Bank of America Stadium on October 2, 2022 in Charlotte, North Carolina.
(Grant Halverson/Getty Images)

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Tepper, a hedge fund billionaire, bought the Panthers in 2018 for a record $2.275 billion.


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