CHARLOTTE, N.C. – Companies linked to Carolina Panthers owner David Tepper are being sued for more than $21 million by York County over “improperly utilized” funds the South Carolina county spent toward building infrastructure around the site of what was supposed to be the team’s new headquarters -- a project that recently was terminated. The project initially was paused on March 7 after Tepper’s companies alleged Rock Hill had not come up with the promised $225 million in bonds for infrastructure. The lawsuit refers to the failed facility as a “vanity project.” It alleged that Tepper’s companies misappropriated the $21 million from Penny Tax revenue for the expansion of Mount Gallant road between Dave Lyle Boulevard and Anderson Road. The suit alleged York County had been “damaged” by the breakdown between Tepper’s company and Rock Hill. The Panthers did not immediately respond to requests for comments from Tepper or his management team.

Source: Forbes June 11, 2022 11:51 UTC