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AP National Business

Carolina Panthers settle failed practice site for $100M

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Published 11:46 AM

By JEFFREY COLLINS
Associated Press

COLUMBIA, S.C. (AP) — A federal judge has approved a bankruptcy settlement of about $100 million over Carolina Panthers owner David Tepper’s failed plan to build a practice facility for his NFL team in South Carolina. The deal approved Friday will turn the land and the incomplete steel shell of what was supposed to have been the team’s new headquarters over to the city of Rock Hill. It’s estimated to be worth $20 million. Tepper’s real estate company will pay York County $21 million, and $60 million will be split among the contractors who worked on the project before it was abandoned this year. All sides agreed to drop their lawsuits.

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