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Charlotte Council approves plan to give Panthers $125 million


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#31 Zod

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Posted 15 January 2013 - 03:49 PM

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

#32 Stroupe-a-loop

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Posted 15 January 2013 - 03:56 PM

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.

#33 fieryprophet

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Posted 15 January 2013 - 03:58 PM

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.

#34 jtnc

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Posted 15 January 2013 - 03:59 PM

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

Quote me if you're gonna call me out.

#35 Panthro

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Posted 15 January 2013 - 04:04 PM

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.

#36 fieryprophet

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Posted 15 January 2013 - 04:06 PM

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.

#37 koolkatluke

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Posted 15 January 2013 - 04:07 PM

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.


You fuging moron. Will your restaurant give jobs to 40-50,000 people not to mention give rise to 40-50 business around you? If not then Stfu.

#38 Scrumtrilescent

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Posted 15 January 2013 - 04:08 PM

It would it if was a good BBQ joint downtown. I'd help keep it in the black.

#39 R0CKnR0LLA

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Posted 15 January 2013 - 04:10 PM

would it cost taxpayers $185 million? whose the moron ffs

#40 Stroupe-a-loop

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Posted 15 January 2013 - 04:12 PM

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.


I think the Packers are the only team that has public records (being publicly held and all) and they make in the 30 million range.

#41 R0CKnR0LLA

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Posted 15 January 2013 - 04:13 PM

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.


from what I understand from the CBA they decided to split profits between owners and players right at about 50/50. With the salary cap being at $120 million that means the owners should be pulling in $100+ million on average a year. That's how I understood it at least, if you have an actual source that shows otherwise go for it but honestly the actual amount makes no difference to this discussion

#42 Stroupe-a-loop

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Posted 15 January 2013 - 04:15 PM

from what I understand from the CBA they decided to split profits between owners and players right at about 50/50. With the salary cap being at $120 million that means the owners should be pulling in $100+ million on average a year. That's how I understood it at least, if you have an actual source that shows otherwise go for it but honestly the actual amount makes no difference to this discussion



They split total revenue, not profit. Jerry has some pie charts to show you.

#43 Niner National

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Posted 15 January 2013 - 04:16 PM

The Panthers net worth is over one billion (and should get a bump from this) and make over $100 million in profit yearly...

Yeah....no. The Panthers don't make anything close to a 100 million dollar profit yearly.

MAYBE 15-20 million, MAYBE.

I don't agree with the city being so eager to throw money at the team, but your statement is just wrong. There are only a few teams in the NFL that make that kind of money and we are certainly not one of them.

#44 GAme

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Posted 15 January 2013 - 04:17 PM

I like him. He seems like he's all business, pretty much the opposite of Marty Hurney

#45 Stroupe-a-loop

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Posted 15 January 2013 - 04:17 PM

http://proplayerinsi...t-with-players/


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