06-02-2022, 01:01 AM -
Officially, the Panthers Rock Hill facility is now 'DEAD'. After a lot of time (and money..), Panthers owner, David Tepper, has directed his real estate company, GT Real Estate Holdings, LLC (GTRE), to file for Chapter 11 protection. This filing to "effect an orderly wind-down of the project". GTRE operates as a 'limited liability company' under the laws of the state of Delaware. Accordingly, GTRE announced the Chapter 11 'protection' filing in a statement to the Associated Press (AP..) Wednesday night after the filing in a Delaware court. According to the "statement", this Chapter 11 filing "will not affect the ...Panthers or the ...Charlotte FC in any way.
LINK TO THE STORY: Associated Press (AP..) Story on Panthers Real Estate Bankruptcy This the actual story under the AP banner...
My thoughts.....
The notice and statement that it "won't affect..." is, of course, stupid and patently ridiculous. On its own, without any 'analysis' or 'fluff' being added by outside commentary, the statement itself is damning and GREATLY affects both of these professional sports teams. The Panthers lose not only a sports practice facility that certainly would have been 'nice to have', they also lose "face" in the league and with other teams and further demonstrates the lack of impact of a "small-market" franchise. Tepper may be the NFL's wealthiest owner, but he certainly holds little or no sway with the Panthers 'market' partners. They essentially flew the middle finger bird at him and said "F.... You. We don't care how much money you have..". What this latest setback means to Charlotte, Mecklenburg County, Rock Hill, and York County SC, likely won't be determined for quite a while.
I am shocked and appalled..... This could spell doom for our Panthers. Digging out of THIS hole could be a long or "never-ending" process.
LINK TO THE STORY: Associated Press (AP..) Story on Panthers Real Estate Bankruptcy This the actual story under the AP banner...
My thoughts.....
The notice and statement that it "won't affect..." is, of course, stupid and patently ridiculous. On its own, without any 'analysis' or 'fluff' being added by outside commentary, the statement itself is damning and GREATLY affects both of these professional sports teams. The Panthers lose not only a sports practice facility that certainly would have been 'nice to have', they also lose "face" in the league and with other teams and further demonstrates the lack of impact of a "small-market" franchise. Tepper may be the NFL's wealthiest owner, but he certainly holds little or no sway with the Panthers 'market' partners. They essentially flew the middle finger bird at him and said "F.... You. We don't care how much money you have..". What this latest setback means to Charlotte, Mecklenburg County, Rock Hill, and York County SC, likely won't be determined for quite a while.
I am shocked and appalled..... This could spell doom for our Panthers. Digging out of THIS hole could be a long or "never-ending" process.