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Charlotte Council approves plan to give Panthers $125 million

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Posted

remind me again, if tax payers and PSL owners are footing so much of the bill for the Panthers why do we even need JR in the first place? I guess we need somebody to show up and pocket all the profits right

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Posted

just the tip

Agreed, it's not rape unless you only insert the tip.

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Posted

I'm excited for two reasons:

One being the obvious

The second is it will keep the poor hillbillies/ghetto folk from Rock Hill or Concord from polluting the Charlotte night life. They can't afford the .03 extra their drinks will cost.

Today is a great day for Chatlotte.

Cheers, Mr.Richardson.

This hillbilly's shits are smarter than you on your best day...and they make more money.

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Posted

yayy we get fan misters..and personal bedpans so you never miss a minute of action!!.

Is this really just for a giant flat-screen? Vizios are real cheap at wally world and we could have one hooked to every other seat!!

My Classy upgrades will be copy-written.

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Posted

just the tip

You're Irish, that's all there is. Let's be honest.

*holds up mirror and cries*

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Posted

Someone correct me here if I'm missing something

the taxpayers will now have put $185 million into the Panthers organization

JR raised $200 million initially, although the majority of that was from PSLs

so.... PSL + taxpayer money is substantially greater than what JR initially invested. The Panthers net worth is over one billion (and should get a bump from this) and make over $100 million in profit yearly... but taxpayers and PSL owners have zero share in the business and receive none of the actual profit. All that goes to JR and his owner group. Sounds fair.

Maybe I should ask the city council to build me a restaurant or some other business. It will create jobs and revenue for the area after all. You guys foot the bill for me and I'll just show up to collect whatever profit it makes. And of course I'll own it, not the city, so when I sell it that all goes to me as well. Seems like a pretty sweet deal to me.

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Posted

It's weird when men obsess over me. Cut it out.

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Posted

I would give more creedence to the bitching if I actually believed that the people on here had ever taken any interest in Charlotte's public finances before this vote came up.

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Posted

Someone correct me here if I'm missing something

the taxpayers will now have put $185 million into the Panthers organization

JR raised $200 million initially, although the majority of that was from PSLs

so.... PSL + taxpayer money is substantially greater than what JR initially invested. The Panthers net worth is over one billion (and should get a bump from this) and make over $100 million in profit yearly... but taxpayers and PSL owners have zero share in the business and receive none of the actual profit. All that goes to JR and his owner group. Sounds fair.

Maybe I should ask the city council to build me a restaurant or some other business. It will create jobs and revenue for the area after all. You guys foot the bill for me and I'll just show up to collect whatever profit it makes. And of course I'll own it, not the city, so when I sell it that all goes to me as well. Seems like a pretty sweet deal to me.

Panthers make noooooooooooooooooooooooooooooooooooowhere near $100 million yearly. If they did their valuation wouldn't be as small as $1 billion, Jesus. I would be very surprised if they had a net yearly income of more than $10 million.

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Posted

It's weird when men obsess over me. Cut it out.

Quote me if you're gonna call me out.

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Posted

Panthers make noooooooooooooooooooooooooooooooooooowhere near $100 million yearly. If they did their valuation wouldn't be as small as $1 billion, Jesus. I would be very surprised if they had a net yearly income of more than $10 million.

Actually they make close to $100M in just TV revenue alone.

Again it would not surprise me that Richardson has a low Net Yearly Income.

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Posted

Actually they make close to $100M in just TV revenue alone.

Revenue != profit. If it wasn't for TV money there wouldn't be a profitable franchise in the NFL.

I don't no why you people find this concept so goddamn confusing, it's all part of the CBA negotiations that makes the salary cap a percentage of general revenues. We know what the salary cap is, therefore you can extrapolate what the league revenue is overall, divide it by 32 teams, and viola, you find out that it's nowhere near as profitable as you imagine. When you are required to spend a portion of your revenues on salaries, and then you have the expenditures associated in maintaining the franchise, front office, operations, scouting, etc., and then thrown in the revenue sharing if you exceed certain thresholds, then you're working with a fixed amount of income no matter how you dice it. That's why a team like the Bengals runs a barebones office, because that's how Mike Brown maximizes his profits on a set amount of revenue.

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