Tbe

I’m skeptical that is true because of how fast RH went dark and how fast York swooped in to broker a new deal. Why do that if the Panthers are at fault? See my last post. RH issued a statement today that doesn’t mention any of that. They seem to be saying no one would buy the bonds. Everything around RH’s side of the story is strange.

Official statement from RH. Are they saying they tried to issue bonds but no one bought them? The City met all obligations required under the agreements. The City did not commit to provide unlimited City backstop, but instead agreed to use its best reasonable efforts to issue bonds to be repaid by the increase in the tax revenues generated from development of the site which protects the City’s taxpayers and the City’s favorable financial position. As set forth in the parties’ finance agreement, the City was not required – to pledge, use or contribute any City funds, revenues or assets to the repayment of the Bonds beyond the Panthers Fund Proceeds, Reserve Funds derived from proceeds of the Bonds, together with capitalized interest, if any, or [municipal improvement district (MID)] assessments imposed in accordance with the MID Governing Documents; and … the City’s reasonable best efforts to issue Bonds shall not be construed as an assurance or guarantee by the City that there will be a buyer for any of the Bonds.

The only source I’ve seen on that is the city manager (who once said RH had already met all financial responsibilities) and that was a month ago. I haven’t seen that claim being made since from anyone else. If it was true, you’d think these politicians would be milking it for all its worth.

That is a new one to me. I’d like to see a source on that. I’ve seen several interviews of York county counselmen and state congressmen and they have not talked about that. They offered the panthers a 30 year property tax break after construction stopped but the panthers never responded to it. I live in the area. People are hot because Tepper has been ignoring York’s offer. https://www.wcnc.com/amp/article/news/local/york-county-council-panthers-training-facility-rock-hill-site/275-7194d096-bf60-4d7f-849d-52997ece8aee

The York county deal came in after construction stopped. They are upset because the panthers never responded to it. The part about RH being told not to issue the bonds (1 year after the deadline btw) hasn’t been repeated. I saw the same thing but I think that was a quote from just one politician. No other confirmations on that.

All the info I’ve seen has been very consistent. I’ve heard a few York County councilmen admit that rock hill defaulted. That’s why york scrambled so fast to create a new deal last month. This entire thing is simple. Rock Hill wanted the project, Covid hit, rockhill couldn’t pay. I don’t think either side was up to something malicious, but contracts are still contracts.

Rock Hill still agreed to pay. They signed a contract. They did it because they wanted the HQ in their town instead of CLT or somewhere else. Giving the money was their only way to attract this project. They made a promise to build the (public) roads leading to the HQ and then couldn’t follow through. Completely on them.

Maybe he’s a big perv and thinks keep pounding is an inappropriate sexual innuendo.

Yeah, they’ve been ‘swinging’ the last two years. Gotta keep trying.

Yes Meck county has that. It makes the county $150 million a year but all those funds are committed for the foreseeable future.

Staying silent is a classic sales technique. Wait for the other guy to get uncomfortable and talk themselves into a better deal for you.

Politicians will politic. Facts so far: Rock Hill never issued the bonds they were supposed to issue 2 years ago. York county came in last month and offered a 30 year property tax break instead of cash. Panthers have not responded to York county’s offer. Panthers have supposedly abandoned the project.

Property taxes from businesses are the primary revenue source for SC cities and counties from what I understand. SC state law significantly limits residential property tax rates so attracting new big businesses with big properties is important to these places if they want to get more revenue for schools etc. Considering that, the breaks they are offering now is a big deal. They are forfeiting an important Rev stream.

Yeah, and the mayor of RH went on local radio and said “we’ve met all obligations.” When this deal went down, it was known that RH would have trouble issuing the bonds without driving their rating to junk status. It sounds like everyone just crossed their fingers.

RH politicians will put all the blame on Tepper and get re-elected.

Tepper is going to turn the entire state of SC against the Panthers by the time the season starts. Smart business move.

Most likely none. Lawyers for these types of things typically work for the publicity and a big cut of the settlement.

https://www.cbssports.com/nfl/news/former-cardinals-head-coach-steve-wilks-defensive-coordinator-ray-horton-join-brian-flores-lawsuit-vs-nfl/amp/

Billionaires can’t make cities do anything. The cities do it willingly. I don’t care what billionaires ask for. It’s the local governments who take money from people via taxes and give it to the wrong people.

100%. I don’t blame Tepper for asking for the money. Ask away. I blame RH for agreeing to it. They got greedy. They wanted the ‘prestige’ of an NFL facility, how that would increase their property values, etc and didn’t care about the million ways they could have used the money better.

Rockhill never should have made that deal. They can’t afford it and shouldn’t try.

It is by NFL standards. The nfl determines the primary and secondary market (for blackout zones) by drawing a 75mile radius around the stadium. That ‘standard’ puts the panthers at #6. Just ahead of the cowgirls. Interestingly enough, the nfl widens that 75 mile zone for the panthers to include the triangle, etc. Adding Raleigh Durham puts the panthers at #2 I think.

Indianapolis is 25th Pittsburgh is 26th Baltimore is 28th Kansas city is 34th Cincinnati is 36th Vegas is 40th. New Orleans is 50th. Buffalo is 53rd.

Maybe after Jerry dies. I just don’t see the nfl leaving two states without a team just to relocate it less than 100 miles from two existing teams.