There have been headlines recently about the Carolina Panthers moving to Rock Hill, S.C. No need to worry, Charlotteans — the news is about a potential move of the franchise’s practice facility to a new development south of the border. Here’s what we know so far:
David Tepper bought the Carolina Panthers in 2018 for $2 billion. His top priority as the owner has been a new practice facility, particular one that is indoors and shielding from the elements. Last season, the team had at least one practice in the Charlotte Convention Center due to heavy rains.
Two States, One Team
South Carolina government officials have been working to entice the Carolina Panthers to build the new facility in the state. Lawmakers have offered $120 million in tax breaks for the new facility, which is set to include the team’s headquarters and the construction of a new interchange off I-77. There was debate around the true economic impact of the incentives package, with the South Carolina department of commerce report indicating $3.8 billion in benefit — but that assumes all players and staff would move to Rock Hill and spend their entire paycheck in the state.
The franchise now plans to purchase up to 200 acres off I-77 for the complex. South Carolina leaders say this will spur development in the area, including hotels, shops, and residential projects. The timeline is for the team to move operations to the new hub by 2022, while the Carolina Panthers will continue to play home games at Bank of America stadium. The final version of the bill passed on Monday and included $115 million in tax discounts.