Charlotte, NC (AP) —Carolina Panthers owner David Tepper suspends team construction $ 800 million practice facility In Rock Hill, South Carolina, there were concerns about a lack of city funding needed for the project’s infrastructure.
Tepper has already invested $ 170 million in the project, according to a statement from a spokesman for Tepper Sports and Entertainment on Monday.
“Our partners were unable to contribute to the agreed investment to fund the construction of public infrastructure,” the statement read. “Given the economic reality, a difficult but cautious decision was made to suspend the project. The work in progress is an economically acceptable solution for all parties to continue this project at Rock Hill. We will continue to work with our partners to find a solution. “
The 240-acre practice facility was scheduled to open in 2023.
Markhart, Chief Operating Officer of the Panthers, sent a letter to York County manager David Hadspeth last May after the city of Rock Hill was unable to secure infrastructure ties.
“There is a high risk that the required infrastructure goals will not be met until the road to $ 225 million in fixed income is paved,” Hart wrote at the time.
According to the letter, the bond was scheduled to be issued on October 31, 2000, but the deadline was later postponed to February 26, 2021. However, bonds have not been secured for more than a year.
Public infrastructure includes electricity to roads, sewage, water and facilities.
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