The National Football League’s Carolina Panthers operation has apparently abandoned its planned $800-million headquarters and practice facility project in Rock Hill, S.C., following a bankruptcy filing by the team owner’s real estate representative.
GT Real Estate Holdings, LLC (GTRE), a Delaware limited liability company established by Panthers’ owner David Tepper to oversee the project, announced June 1 it had begun a court-led financial restructuring process “to achieve the project's orderly and safe wind-down” and “ensure legitimate claims are processed as fairly and expeditiously as possible.” GTRE also expressed its intention “to resolve its legitimate obligations.”