PANTHERS--TEPPER: REAL ESTATE CO. (LLC..) FILES FOR BANKRUPTCY--ROCK HILL IS 'DEAD'.

From what I understand, it was only the construction company that was owned by Tepper that filed for Bankruptcy, not the Panthers organization.  And for what it's worth, it's the state of South Carolina and the city of Rock Hill that should be ashamed.  

They begged for a facility that served "both Carolinas".  They wooed him, they courted him, they got him drunk and took everything he would give them, and then left him standing at the Alter.

They did not live up to their end of the deal that even the Governor of South Carolina promised the people would take place.  Money talks and b/s walks.  Tepper didn't become a multi-billionaire by throwing good money after bad.

And, yes, I hate it that it didn't go thru.  I live just outside of Charlotte in North Carolina, but it would have been great for ALL of our fans to have it in Rock HIll rather than in Columbia.

I agree with your take on most of this. However, just to add a little context...

The bankruptcy was filed by Tepper's Real Estate Holding Company, by his direction. GTRE (Tepper's 'holding company' LLC..),was directed to file by Tepper. The holding company is a front for buying and selling, optioning and leasing real estate, both land and improvements. It is 'natural' and understandable that this holding company would be the 'front' for the property acquisition and the build-out of the sports center down in Rock Hill. I understand ALL of that.

Also.... I agree that Rock Hill was the instigator/perpetrator of this issue when they reneged and refused to issue the bonds to cover THEIR part of the project. What was "their part".?? My understanding is, it was the extension, continuation, and build-out of city and county owned "infrastructure" that would support the Panthers Sports Complex. Rock Hill, and to a lesser extent, York County, was to provide the infrastructure improvements to support the complex. The city/county/state would retain ownership and control of all of the roads to the property and necessary 'improvements'. The power requirements, data lines, water and sewer, etc., etc. are also part of the "infrastructure". The city also had some responsibility for those necessary improvements (getting the trunk lines and mains in place to provide the necessary access to those things..).

When this 'deal' started to fall through, the first thing I thought was that Rock Hill was trying to force Tepper to pay for all of the highway and access stuff that would ultimately serve the people of Rock Hill, York County, and South Carolina. The access, etc., would also benefit other property owners in the area as well as all of the intended expansion locally there such as hotels and restaurants and 'other' retail business that would 'tag along' and try to take advantage of the Panthers Sports Complex. Rock Hill thought they could "force" Tepper to pay for everything, while they reaped the benefits....to include a hugely increased revenue base.

I commented then that I thought Tepper should fold it up and tell them to stick their project. WHICH... is what he has effectively done.

So, I DO NOT blame Tepper for this issue at all. It should NOT be the Panther's responsibility to front all of the costs for Marriot International. Choice Hotels, Wyndham Group. Hilton, IHG... Starbucks, McDonalds, Burger King, Hard Rock, Hooters, Olive Garden, Outback, ad infinitum. All/Any of which could decide to move into the area to 'piggy-back' on to a 'good thing'. The only ones who stand to gain are York County and Rock Hill who would benefit IMMENSELY from the property tax base and massive revenue increases from retail establishments of all kinds.

The problem...This kind of action (Chapter 11..) puts Tepper and the Panthers and Charlotte FC in a terrible spot. It LOOKS terrible. And regardless what they said, it will definitely affect the Panthers and Charlotte FC. Their market partners are NOT going to be happy to be affiliated with this mess.

So, Tepper doesn't want to lose any more money. OK, I understand. But there had to have been a way to 'punch' back at them without declaring bankruptcy. YES, I know it's not the Panthers, but it IS Tepper.!!!! EVERYTHING that is "Tepper" is perceived to be 'Panthers' affiliated. All that talk about "small-market" teams ... Just wait.!! You haven't seen anything yet.!!
Now... How do you think other 'quality' FAs will look at the Panthers.?? What do you think our chances are.??