Tag: David Tepper

Federal judge approves Panthers’ bankruptcy settlement over Rock Hill

The legal battle between Panthers owner David Tepper and York County reached a finish line on Thursday.

In the words of federal bankruptcy court Judge Karen Owens—the Carolina Panthers, owner David Tepper and York County have reached “the finish line.”

From a Delaware court hearing on Thursday, Owens approved the bankruptcy settlement from Tepper’s real estate holding company, GT Real Estate (GTRE)—thus ending the final link to the failed Rock Hill, S.C. relationship. The settlement will pay York County the $21 million it dished out for the proposed Panthers headquarters and $60 million to the contractors who worked on the project before it was halted back in March.

GTRE, via The Herald, issued a statement about the ruling:

“From the outset, GTRE sought to ensure all legitimate claims were processed as fairly and quickly as possible and to achieve the project’s orderly and safe wind-down. We are pleased that the Court has approved our comprehensive plan of reorganization, which paves the way to resolve and satisfy GTRE’s creditor claims.”

The city of Rock Hill will now own the title to the property and the Panthers, well, will obviously have to find another spot for a new facility if Tepper wishes.

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Panthers owner David Tepper under criminal investigation for Rock Hill debacle

The Rock Hill saga continues for Panthers owner David Tepper, who is under investigation for possible misuse of public funds.

As reported by the Associated Press on Friday, Carolina Panthers owner David Tepper and GT Real Estate Holdings LLC are now the subject of a criminal investigation stemming from the failed construction of the Rock Hill, S.C. headquarters.

The probe will try to determine if Tepper and his real estate company misused public funds in their attempt to build the Panthers’ proposed practice facility. A joint statement from York County Sheriff Kevin Tolson and Solicitor Kevin Brackett, however, noted that this newest development in the ongoing saga is “simply an inquiry” and is not an inference that any criminality actually occurred.

GT Real Estate Holdings LLC has denied any wrongdoing in a statement of their own. It reads:

“This is a straightforward commercial matter that is being fully resolved. The underlying disputes arise under contracts that were jointly negotiated by the parties and are publicly available. The funds paid by the county were handled consistent with the terms of those contracts.”

News of the investigation comes just days after the franchise and York County announced a settlement from the lawsuit filed by the latter party back in June.

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Nebraska hires former Panthers coach Matt Rhule, who went 2-3 vs. Saints

Nebraska hired former Panthers coach Matt Rhule, who went 2-3 against the Saints, saving Carolina a lot of money they can put towards chasing Sean Payton:

It didn’t take long for Matt Rhule to land on his feet. The Nebraska Cornhuskers introduced Rhule as their new head coach on Saturday, bringing the former Carolina Panthers coach into the fold — saving Panthers owner David Tepper a big chunk of the $40 million he would have owed Rhule after firing him earlier this year.

So what has this got to do with the New Orleans Saints?

Rhule went 2-3 against the Saints in his time with Carolina (and 11-27 overall), upsetting them twice in Charlotte. Tepper isn’t hurting from cash, but shaving those salary offsets from Rhule’s contract should make it a little easier for him to offer Sean Payton a blank check in a few months. Payton has reportedly expressed his disinterest in the Panthers job, but you never know. It would give the Saints a lot of leverage in negotiating Payton’s trade to another team if Carolina were putting more assets on the table.

But good for Rhule, who had more experience at the college level with Baylor and Temple than in the NFL. It’ll be fascinating to see who the Panthers end up hiring as their next head coach and to what degree they pursue Payton. If anything’s certain, it’s that more changes are on the way for the NFC South.

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Panthers WR DJ Moore: Players have spoken with David Tepper about turf

With the dangers of turf becoming a heavy topic in the NFL, Panthers WR DJ Moore said the team’s leaders have already spoken with owner David Tepper about the issue.

For the third time this season, the Carolina Panthers are losing a quarterback due to a high-ankle sprain. And each of those ankle sprains have occurred on the Bank of America Stadium turf.

Now, to be fair, the first of those injuries happened when Buffalo Bills defensive tackle C.J. Brewer—an almost 300-pound man—landed on Sam Darnold’s foot. But, nonetheless, this week’s setback for PJ Walker comes at a particularly interesting time—one where many NFL players are lobbying to switch turf playing fields to grass.

Among those players was Panthers wide receiver DJ Moore, who said on Monday that team leadership had spoken with owner David Tepper about the issue. Tepper, in an effort to expand the potential of Bank of America Stadium as a multi-purpose venue, installed the turf surface last season.

This season, more specifically on Thursday night, the aforementioned Walker sustained his ankle-sprain in the team’s Week 10 win over the Atlanta Falcons. He told reporters that he thinks it’s time for a change.

“I don’t mind it,” Walker said. “But I think it’s tough on the body. It’s tough on the body. Especially for like those big guys. Receivers as well—planting, coming out of breaks. It’s tough. So do I think the league should go to more grass fields? Absolutely.”

Even interim head coach Steve Wilks, who tried to remain as neutral as possible about the topic, said this when asked about the pushback to turf:

“I can’t get into hypotheticals,” Wilks said. “I really don’t know. We all have talked about natural grass is great. But, for whatever reason, a lot of teams have gone to the turf. So, ya know, we just gotta execute and go out there and play.”

The overall sentiment amongst players is that Carolina’s turf isn’t all that bad. But, maybe that change will come—as long as Chelsea F.C. returns to town for another friendly.

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49ers trade for Christian McCaffrey, giving Panthers ammo to pursue Sean Payton

The 49ers traded four draft picks for Christian McCaffrey, giving the Panthers enough ammo to pursue former Saints coach Sean Payton:

So this move has some ripple effects for the New Orleans Saints. The San Francisco 49ers managed to wrest superstar running back Christian McCaffrey away from the Carolina Panthers late Thursday evening in exchange for multiple draft picks — so let’s explore what it means for New Orleans.

The most immediate impact will be felt in Week 12, when the Saints fly out west to play against McCaffrey and his new teammates in San Francisco. They’ve guarded him well in the past but he’s finally working with a proven offensive system and a strong supporting cast, and it’s going to be challenging for a Saints defense that has struggled to contain lesser talents.

But the most interesting ramification may not be felt until the offseason. Carolina expects to be an active suitor in pursuit of former Saints head coach Sean Payton, and this trade brings them enough draft capital to meet New Orleans’ high demands while promising Payton enough resources to build a competitive roster with.

Here are the future draft picks for the Panthers after the McCaffrey trade:

  • 2023: first-rounder; two second-rounders (one via San Francisco 49ers); third-rounder (via 49ers); two fourth-rounders (one via 49ers); fifth-rounder
  • 2024: first-rounder; second-rounder; third-rounder; two fifth-rounders (one via Tennessee Titans, one via 49ers); sixth-rounder (via Arizona Cardinals)
  • 2025: first-rounder; second-rounder; third-rounder; fourth-rounder; fifth-rounder; sixth-rounder; seventh-rounder (via Cardinals)

It’s anyone’s guess what the Saints will get back if and when Payton eventually returns to coaching, but they could realistically expect a large package of picks back from Carolina — something like a second-round choice in 2023, a first- or second-rounder in 2024, and a late-round pick or two. Because the Panthers are division rivals with New Orleans, they’ll have to pay a higher price than other bidders for Payton’s services. That’s just reality.

What’s also realistic is acknowledging how unappealing the Panthers job may be for Payton. They’ve got a meddling, impatient owner who has already rubbed him the wrong way; when Matt Rhule was fired in Carolina earlier this month, Payton commented on a Fox Sports pregame show that he was surprised at how early in the season it happened. If David Tepper was so eager to send Rhule packing, why should Payton believe he’d be treated any differently?

So while I wouldn’t expect the Panthers to get seriously involved in the Payton sweepstakes, they’ll definitely be in the mix and at least drive the price up for other suitors. And the war chest they’ve assembled after shipping out McCaffrey and Robbie Anderson this week gives them plenty to work with. Maybe it ends up being enough for Payton and the Saints to overlook the downsides here and make a move.

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Luke Kuechly, David Tepper at Panthers practice on Wednesday

Luke Kuechly and David Tepper were on hand for Steve Wilks’ first practice as Panthers interim HC.

Wednesday marked the first practice for Steve Wilks in his brand new role with the Carolina Panthers. And there to join the interim head coach were two men of particular note . . .

The latter of the two, owner David Tepper, was present fresh off his, um, interesting press conference. Tepper, who decided to part ways with his first big hire in Matt Rhule on Monday, was also on hand for Wilks’ media availability yesterday.

Mentioned during that availability, by the way, was former linebacker Luke Kuechly—the second of the two men this post is about. Towards the end of his presser, Wilks was asked if he would consider bringing in the franchise great for a spot on his staff—to which he jokingly replied:

“For his playing or coaching? As I stated before, I feel good about the coaches that we have in place moving forward and I’m excited about what we’re gonna try to get done.”

Kuechly, now a member of the team’s radio broadcast crew, served as a pro scout for the organization between 2020 and 2021. Oh, and he also played a little ball before that. Perhaps you might’ve seen him on the field a time or two.

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Twitter reacts to David Tepper’s painful press conference

Panthers owner David Tepper didn’t look like he had fun at his presser on Monday. But Twitter surely did.

We’ve already showed you some of Twitter’s reactions to the Carolina Panthers’ decision to fire head coach Matt Rhule earlier today. And after what just went down at Bank of America Stadium this afternoon, there’s no way we’re not going to that well again.

So, here are the best reactions to owner David Tepper’s, um, interesting press conference about the matter.

Panthers owner David Tepper: We weren’t getting over the hump with Matt Rhule

Panthers owner David Tepper, who admitted he’s still learning on the job, said Matt Rhule simply wasn’t getting his team over the hump.

Two years ago, Carolina Panthers owner David Tepper hired Matt Rhule to get his team to the promised land. But, as it turns out, he couldn’t even get them over the hump.

The visibly irritable billionaire faced the music on Monday afternoon, hours after firing his fellow short-order cook and head coach. When asked for the reasoning and timing behind his decision, Tepper stuck pretty firm (multiple times) in his response.

“Look, there’s numerous reasons why you make a decision like that,” he said. “Ultimately, I felt this was the time. Now was the time.”

But why now? And not earlier? He hit those points again later in the presser.

“Look, again, a lot of time, uh, has passed here,” he said. “We have the record we have. And, uh, again—there’s different reasons that go into that. I think that there has been progress—of some sort. But, look, we’re just not getting over the hump. And we gotta get over the hump.”

The record they have now, at least through five games here in 2022, is 1-4—which is good enough to give them current possession of the 2023 draft’s No. 1 overall pick. The record they’ve had with Rhule since he was hired is 11-27—which equates to the worst losing percentage for a head coach in franchise history.

It was clear, right from the start of his media availability, that Tepper wasn’t going to get too detailed about the choice to let his seven-year, $62 million investment go. He also wouldn’t get into his thought process for 2023, the future of his staff and players and the past failures he’s headed since buying the team.

So, if you want some more details into why this might’ve happened and how it did, perhaps you can read up on some of Scott Fowler’s recent work . . .

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Matthews, NC Mayor Pro Tem Ken McCool has had it with the Carolina Panthers

Matthews, North Carolina Mayor Pro Tem Ken McCool is like a lot of local residents — he’s had it with the Carolina Panthers.

Frustration regarding the travails of the Carolina Panthers is running high among the team’s fanbase. The Matt Rhule-coached Panthers are 1-4, they have a point differential of -29, and word is increasing in all corners that Rhule’s seat is lava-hot.

One Panthers fan who has clearly had enough of this mess is Ken McCool, the Mayor Pro Tem of Matthews, North Carolina. Matthews is a suburb of Charlotte, about 15 miles from Bank of America Stadium. And McCool had no issue releasing his feelings as the Panthers were getting ripped up, 37-15, by the San Francisco 49ers on Sunday in that very stadium.

First, McCool slammed Rhule and team owner David Tepper…

…then, a veiled shot at quarterback Baker Mayfield with this blast from the past request…

Finally, McCool took off after Rhule, Tepper, and quarterback Baker Mayfield.

According to McCool’s official biography, “Ken spent fourteen years involved with the Matthews Athletic & Recreation Association and now volunteers as an assistant baseball coach. Ken is a small business owner with his father. They own and operate ‘Ken’s Sports Cards and Collectibles.'”

One imagines that there won’t be a lot of current Panthers cards or collectibles in McCool’s shop.

Report: Panthers expected to seek veteran HC if Matt Rhule is fired

Matt Rhule is reportedly under scrutiny from Panthers ownership. And if he’s fired, David Tepper will seek a veteran replacement—with two interesting names already popping up.

Unless the outlook for his Carolina Panthers changes and changes quickly, Matt Rhule is probably running out of time in Charlotte, N.C. And if he is, owner David Tepper is already zeroing in on a new plan.

According to Aaron Wilson of Pro Football Network, the third-year head coach is under “heavy scrutiny” from ownership. The Friday morning report notes that although a change is not imminent, patience for Rhule is growing increasingly thin.

Wilson added that if Rhule is ultimately dismissed, Tepper will seek out a veteran replacement—one with considerable head coaching experience. He writes:

“’I’m expecting, and many others around the league expect Tepper to go with a proven head coach with significant NFL experience,’ a league source said. ‘That would mean looking at Sean Payton or a Dan Quinn. Tepper has been patient, but patience only stretches so far. At some point, you have to win, and they haven’t won nearly enough games.'”

Payton and Quinn, of course, should be quite familiar names to Panthers fans. The former led the New Orleans Saints to a combined 152-89 record and a Lombardi Trophy over 15 seasons while the latter headed the Atlanta Falcons from 2015 to 2020—a stint that also included a Super Bowl appearance of his own.

As for their current gigs—Payton stepped away from the sidelines after the 2021 campaign and is currently a FOX studio panelist. Quinn is now in his second season as defensive coordinator for the Dallas Cowboys.

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