Jump to content


Photo
- - - - -

Panthers want 125 Million in taxpayer money.


  • Please log in to reply
283 replies to this topic

#106 Panthro

Panthro

    Bunned

  • Moderators
  • 22,224 posts

Posted 15 January 2013 - 10:01 AM

Everyone bitching about JR saying he can afford $125 million because he is a "billionaire" need to do some simple math:

Assume JR is a billionaire, which I actually do not believe is the case since he owns 48% of the Panthers, and therefore if the franchise is valued at $1 billion he would have a stake valued at $480 million, but let's assume he's a billionaire.

$125 million would require him to liquidate 12.5% of his net worth, which would require him selling off a significant share of the Panthers, and make it even more likely that an outside group could take control of the team. People assume he must be sitting on a giant pile of cash just for owning an NFL team, not realizing that the salary disbursements for NFL teams makes up a massive portion of their overall revenue, and much of the rest is allocated to the significant front office resources needed to make the team as competitive as possible. If it wasn't for the TV money allocated to all 32 NFL teams the financial shape of many, many teams would be in dire straits. So, $125 million would be a full year's worth of salary cap coming directly out of the team's coffers and make them much more vulnerable to lowered ticket sales, salary cap constraints and revenue shortfalls.

This isn't a case of the team taking free money and hoarding it, it's a case of reaching competitive balance with other stadiums without putting themselves in a financially compromised position, particularly if an outside group is hoping to buy enough shares to oust JR and take the team elsewhere.

So stop your bitching.


Yeah because no one would give him a low % loan. He would totally be required to liquidate assets. With all the revenue sharing the cost should be split between the NFL and Richardson.

you know less about business than you do football.

#107 panfan32

panfan32

    Senior Member

  • HUDDLER
  • PipPipPipPip
  • 575 posts
  • LocationFayetteville, North Carolina

Posted 15 January 2013 - 10:01 AM

Lets not forget that the stadium was built with $0.00 tax dollars to begin with. Most stadiums are built with 40-50% of tax money from the state and city.

#108 SCP

SCP

    Crop Dusting Son of a Bitch

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 17,868 posts
  • LocationOn a Sales Call

Posted 15 January 2013 - 10:03 AM

Today's Fatty meal:
Coke $1.50
Burger $4.95
Fries $1.50
Total $7.95
Tax 7.25%
Total $8.52

Fatty meal with 1% stadium tax increase:
Coke $1.50
Burger $4.95
Fries $1.50
Total $7.95
Tax 8.25%
Total $8.61

#109 Kevin Greene

Kevin Greene

    ______CYA_____

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 15,969 posts

Posted 15 January 2013 - 10:06 AM

In the last decade, what has he done to earn this money?

#110 SCP

SCP

    Crop Dusting Son of a Bitch

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 17,868 posts
  • LocationOn a Sales Call

Posted 15 January 2013 - 10:08 AM

In the last decade, what has he done to earn this money?


Super Bowl in 2003

#111 Lumps

Lumps

    watch porn

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 5,004 posts
  • LocationSouth Charlotte

Posted 15 January 2013 - 10:10 AM

so can we stop saying without JR there would be no panthers...I mean really PSLs need to be there, the market needs to be there, and apparentley 125 million needs to be there. JR has nothing to do with any of that

I totally down fo funding this though, no problem with it at all...but CHARLOTTE brought and KEPT the panthers to CHARLOTTE...JR is just a buisnessman, anything he puts in he has already calculated he will get more out.

I'll be a fan of the Panthers whereever they may be but the people keeping them here need to give themselves more credit.

Super Bowl in 2003


and in 11 months?

People are starting to forget 2003...maybe not fans, but people....not enough fans to pay for anything, not enough success (yet) to generate fans.

This team will either become successful only after a new owner or move. I don't see this franchise in another 17 years from a new owner with less than 4 playoff appearences. There is not a lot of room to go downward.

#112 Niner National

Niner National

    Senior Member

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 3,230 posts

Posted 15 January 2013 - 10:12 AM

This is issue #1. Since JR bought the franchise, the value has gone from 250 million to 1 billion. Chalk some of that up to inflation but that is a heck of a lot of money to be made in a "small market" as we are known around the league. The PSLs in comparison to what Minnesotta and Indy did sounds a little better because at least JR gave us something tangible instead of putting the whole cost onto tax payers without a seat liscense. But still looks bad..

The other issue as was mentioned in the OP is that JR has started to look like an owner that cares more about the bottom line than he does about winning. So, coming to the fans of Charlotte for MORE money, when they have provided unwavering support for this team despite a lack of success just looks like a money-grabbing move as opposed to a move to reward fans. I'm sure that if the Panthers just came off a 13-3 season with a playoff appearance there would be less griping but this franchise, under the watch of JR, has sucked for the most part.

Team value is not money in pocket.

The reason the team is worth so much is because they own the stadium. If we had a city owned stadium like many of the teams in the NFL, we'd be one of the least valuable teams in the NFL.

The Panthers' operating profit is not very good. Small market teams really do not turn much of a profit. The year after the Packers won the Superbowl a few years ago, their operating profit was only $9 million.

I personally think the stadium is fine and I find it a tremendous waste of money to install escalators in the stadium. I would like to see new video boards, but those things don't cost all that much. I know the video board they're putting up at the Charlotte 49ers stadium is about the same size as the video boards the Panthers stadium currently has and they're only a couple million. Aside from that, I don't see anything wrong with the stadium as it is.

Most of the money will likely go into renovating the club level and the private suites anyway, so 80% of fans won't even see much benefit of the renovation. The rest of the money will go to providing escalators for fatasses and old people. If you can't walk up the stairs of the stadium for 8 games a season, then you probably shouldn't be there anyway.

#113 Kevin Greene

Kevin Greene

    ______CYA_____

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 15,969 posts

Posted 15 January 2013 - 10:13 AM

Super Bowl in 2003


Well hell, that's worth 125 mill in taxes on food.

#114 Panthers_Lover

Panthers_Lover

    Senior Member

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 4,014 posts
  • LocationSpartanburg, SC

Posted 15 January 2013 - 10:14 AM

Or we could give 125 local schools a million dollars each to improve their facilities and pay raises for teachers.


Nah.


I know you're smarter than that. I know you know that a professional sports team, especially an NFL team, has a huge economic impact on a community.

#115 Panthers_Lover

Panthers_Lover

    Senior Member

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 4,014 posts
  • LocationSpartanburg, SC

Posted 15 January 2013 - 10:15 AM

Call them the Charlotte Panthers and it's a done deal.


125 million = 1 mile of light rail construction


Then give me back my PSL dollars and my season ticket dollars.

#116 fieryprophet

fieryprophet

    WARNING: Do not annoy!

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 4,872 posts
  • LocationLa Grange, NC

Posted 15 January 2013 - 10:17 AM

Yeah because no one would give him a low % loan. He would totally be required to liquidate assets. With all the revenue sharing the cost should be split between the NFL and Richardson.

you know less about business than you do football.


Assume the Panthers obtained a ten year loan at 0%. That's 12.5 million per year, out of a total net income of at best $15 million, and in most years it's much less than that. You really think it's the best financial decision to obtain a loan that would require almost all of your profits for the next ten years? It'd be better to skip any upgrades entirely.

"BUT DEY MAKES MUR MONIES DEN DAT!!?!?!"

No, actually, they don't. Here's a look at the Packers financials, one of the most wildly successful teams in the NFL, and yet they had a net income last year of $9.8 million.

http://www.nytimes.c...ckers.html?_r=0

And that's for a team that is publicly financed in every way.

Oh, and my business acumen is just fine, thank you.

#117 pstall

pstall

    Gazebo Effect

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 18,212 posts
  • LocationMontford

Posted 15 January 2013 - 10:19 AM

Wouldn't more seats bring more rev? Think party peoples think.

#118 fieryprophet

fieryprophet

    WARNING: Do not annoy!

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 4,872 posts
  • LocationLa Grange, NC

Posted 15 January 2013 - 10:20 AM

I don't understand how people can scream about $125 million for stadium upgrades but would scream even more if we didn't give Cam a contract valued that much in about two years. There's a reason that NFL teams take in a lot of revenue but also have huge expenses.

#119 Doc Holiday

Doc Holiday

    NON FACETE NOBIS CALCITRARE VESTRVM PERINAEVM

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 3,755 posts

Posted 15 January 2013 - 10:20 AM

How about this, you get the money once the team makes the playoffs. That should be a nice carat.

the team pays upwards of $40+ million a year in taxes just based on the amount they pay in salaries every year, not counting taxes paid or extra revenue generated from home games.

This should be a shoe in for them to get this.

#120 fieryprophet

fieryprophet

    WARNING: Do not annoy!

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 4,872 posts
  • LocationLa Grange, NC

Posted 15 January 2013 - 10:21 AM

Wouldn't more seats bring more rev? Think party peoples think.


Why? The stadium's not overcrowded. Adding more seats just increases the likelihood of blackouts.


0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

Contact Us: info@carolinahuddle.com - IP Content Design by Joshua Tree / TitansReport.