Panthers CEO David Tepper being investigated after failed training facility in South Carolina

The York County Sheriff’s Office in South Carolina has started an investigation into the use of public money by Carolina Panthers CEO David Tepper and his company, GT Real Estate, following the failed development of the team’s training facility in Rock Hill, S.C.

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

“An investigation into the circumstances surrounding the transfer to, and subsequent use of public money by the Carolina Panthers owner David Tepper and GTRE, the company created to oversee the construction of the Panthers training facility, was initiated by the York County Sheriff to determine whether any laws were violated during that process. The Attorney General, Solicitor Kevin Brackett’s Office and the State 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 and just outcome can be reached.”

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David Tepper
(Jacob Kupferman/Getty Images/File)

“An investigation is simply an inquiry and should not create any inference that wrongdoing has been committed by any party.”

The Panthers did not immediately respond to an inquiry about the investigation from Fox News Digital. 

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The city of Rock Hill and GTRE tentatively agreed to a $20 million settlement over the failed training facility in November, with a judge ruling that confirmation hearing would be held in mid-December, per WCNC Charlotte. In doing so, GTRE’s bankruptcy case would be decided before 2023. 

However, York County has not reached an agreement in the bankruptcy case, as their lawyers were asking a judge to push the confirmation hearing until next year in order to build a case.

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

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

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

WCNC Charlotte added that the agreement gives Rock Hill priority to take over the site owned by GTRE. If sold, Rock Hill gets to keep $20 million, and South Carolina state Rep. Gary Simrill said in November that there was early interest. 

Owner David Tepper of the Carolina Panthers looks on during the first half against the Arizona Cardinals at Bank of America Stadium on Oct. 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 then-record $2.275 billion.