The Carolina Panthers’ proposed $800 million practice facility project in Rock Hill, S.C., has been canceled after team owner David Tepper’s real estate company filed for chapter 11 protection in Delaware on Wednesday night, the Associated Press reported. Tepper, who made billions in hedge funds, is the NFL’s wealthiest owner. The filing will not affect the NFL’s Panthers or Major League Soccer’s Charlotte FC in any way. It’s unclear at this point what will happen to the half-built practice facility. Tepper has invested more than $175 million into the facility, which is located about 25 miles south of the team’s current downtown stadium and headquarters in Charlotte, N.C. GT Real Estate Holdings, LLC (GTRE), a Delaware limited liability company, announced late yesterday that is has begun a court-led financial restructuring process in Delaware to effect an orderly wind-down of the project. The action follows the termination and rescission of the agreements with the City of Rock Hill that related to the project, which GTRE previously announced.
