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Charlotte Council approves plan to give Panthers $125 million


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#61 Panthro

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Posted 15 January 2013 - 04:33 PM

So, one of the the most successful teams in the entire NFL only made $12 million in profit? See, ROCKnROLLA, your math is wrong.

Yeah but companies do not necessarily need to be profitable to be considered successful.

#62 R0CKnR0LLA

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Posted 15 January 2013 - 04:35 PM

And to all the people bitching about the PSL. You should remember that we don't get a team without it.


that's the thing, from a business stand point WE don't get the team. If the city of Charlotte and PSL owners got stock and shared revenue from their investments I would have no problem with it, but they don't. JR owns it, keeps the profits and net worth while everyone else foots the bill.

#63 NanceUSMC

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Posted 15 January 2013 - 04:35 PM

...



So Dwight Freeney (19M), Elvis Dumervil (18.9M) and Peyton Manning (18M) make more than the Packers did last year?

That's interesting to say the least...

#64 fieryprophet

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Posted 15 January 2013 - 04:36 PM

Yeah but companies do not necessarily need to be profitable to be considered successful.


I was referencing RR's retarded statement that the Panthers make $100 million a year in profit.

#65 Stroupe-a-loop

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Posted 15 January 2013 - 04:36 PM

if they were making all that money back in the form of tax revenues already then they wouldn't need a tax increase. either way, why should money be coming out of my pocket to fun a billionaire's private business? I'm not benefiting from the any profit that JRs business make so why should I foot any of the bill?


The people in city hall will raise your taxes for whatever reason they can think of. They know the team will pay for itself, that's why they didn't hesitate to write the check. And they know they can use it as an excuse to raise taxes, which makes it a double bonus. A win-win for the dudes in city hall.

#66 fieryprophet

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Posted 15 January 2013 - 04:37 PM

that's the thing, from a business stand point WE don't get the team. If the city of Charlotte and PSL owners got stock and shared revenue from their investments I would have no problem with it, but they don't. JR owns it, keeps the profits and net worth while everyone else foots the bill.


Do you demand an ownership stake in McDonald's? ConAgra? Apple? They all get various government freebies, and you spend your money with them, and yet they keep all the profits. It's the way the world works.

#67 Panthro

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Posted 15 January 2013 - 04:38 PM

So Dwight Freeney (19M), Elvis Dumervil (18.9M) and Peyton Manning (18M) make more than the Packers did last year?

That's interesting to say the least...


nope

#68 koolkatluke

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Posted 15 January 2013 - 04:38 PM

lol ok revenue then

i googled and it said the packers made $43 million in 11-12 and that's the only public numbers you're going to find


as I said though the amount really has nothing to do with anything here. bottom line is JR has grown a massive amount of net worth and profits while taxpayers and and PSL owners foot the bill. At least with PSLs you had to be stupid enough to sign up for that voluntarily unlike the increased taxes I will be forced to pay... hooray for that.


Panthro (what a stupid fuging name) I was talking about the comment of being stupid to sign up for the PSL.

#69 Stroupe-a-loop

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Posted 15 January 2013 - 04:42 PM

Look, if the city was actually worried about this being a scary investment, they would not have done it this quickly or easily. They are making money off the team being here. Even with this investment. Period. If it were some contentious public financing deal like the Vikings, New Jersey Nets, or New York Islanders just went through, I would be worried. But it was not, at all, so clearly it's not a public burden.

#70 MHS831

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Posted 15 January 2013 - 04:44 PM

Good. Landowners do not pay. Ticketholders do not pay. When all is said and done, the community will have invested about $200 million in the stadium over a 16 year period. Robbery? Outrageous! Nope. A bargain. Compare that to other NFL cities.

If you remember what downtown was like before the stadium opened, you can feel pretty good about the return on the investment. Because the money will come from voluntary spending of disposable income spent at institutions that have long profited from the stadium, feel good that taxes did not increase and ticket prices were not raised. Drunk people will pay for it.

#71 Panthro

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Posted 15 January 2013 - 04:45 PM

Look, if the city was actually worried about this being a scary investment, they would not have done it this quickly or easily. They are making money off the team being here. Even with this investment. Period. If it were some contentious public financing deal like the Vikings, New Jersey Nets, or New York Islanders just went through, I would be worried. But it was not, at all, so clearly it's not a public burden.


True they would have avoided a secret closed door meeting to pass it if they thought there could be trouble

#72 Niner National

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Posted 15 January 2013 - 04:45 PM

lol ok revenue then

i googled and it said the packers made $43 million in 11-12 and that's the only public numbers you're going to find


as I said though the amount really has nothing to do with anything here. bottom line is JR has grown a massive amount of net worth and profits while taxpayers and and PSL owners foot the bill. At least with PSLs you had to be stupid enough to sign up for that voluntarily unlike the increased taxes I will be forced to pay... hooray for that.

Yes, but in 2010, the Packers profit was only $9.8 million. Numbers can go up quite a bit when you're making deep playoff runs. You can't look at a single season and say "LOOK HOW MUCH MONEY THEY MAKE EVERY YEAR."

Profit margins in the NFL are very thin at the team level.

#73 koolkatluke

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Posted 15 January 2013 - 04:48 PM

that's the thing, from a business stand point WE don't get the team. If the city of Charlotte and PSL owners got stock and shared revenue from their investments I would have no problem with it, but they don't. JR owns it, keeps the profits and net worth while everyone else foots the bill.


There is only one sports organization compared to 100's and 1000's others that runs like that.

#74 MHS831

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Posted 15 January 2013 - 04:48 PM

True they would have avoided a secret closed door meeting to pass it if they thought there could be trouble

We can pretend to know the details...but this is true--somebody was going to pay for it--one way or another.

#75 R0CKnR0LLA

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Posted 15 January 2013 - 04:50 PM

Yes, but in 2010, the Packers profit was only $9.8 million. Numbers can go up quite a bit when you're making deep playoff runs. You can't look at a single season and say "LOOK HOW MUCH MONEY THEY MAKE EVERY YEAR."

Profit margins in the NFL are very thin at the team level.


OK so JR is "only" making 8 figures a year and owns what? 40%? of a business that has grown to be worth over 1 billion... while taxpayers and PSL owners foot the bill and continue to pay to increase it's net worth. Wow, must be rough.


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