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Article on Jerry Richardson's Succession Plans

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http://profootballtalk.nbcsports.com/2013/01/16/report-richardson-plans-to-have-team-sold-after-he-dies/



TL;DR version: Plans on having team sold within 2 years after his death. This is why he wants stadium upgrades, to tie the team to the Carolinas.
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the PFT article is actually referencing this article: [url="http://www.bizjournals.com/charlotte/blog/queen_city_agenda/2013/01/jerry-richardson-sale-plans-could-tip.html?page=all"]http://www.bizjourna...p.html?page=all[/url]

excerpt:
[quote]
[color=#444444][font=Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]The city of Charlotte has ample motivation for making a deal with the [url="http://www.bizjournals.com/profiles/company/us/nc/charlotte/carolina_panthers/3328062"]Carolina Panthers[/url] — and it starts with succession plans for majority owner [url="http://www.bizjournals.com/charlotte/search/results?q=Jerry%20Richardson"]Jerry Richardson[/url]. A source close to the team tells me that Richardson, 76 years old and four years removed from heart-replacement surgery, has mandated the NFL franchise be sold two years after his death.[/background][/size][/font][/color]

[color=#444444][font=Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]The revelation marks the first time details have been disclosed about the Panthers’ fate beyond the life of Richardson, the founding owner. Mark and Jon Richardson, his sons, worked as Panthers executives before [url="http://www.bizjournals.com/charlotte/search/results?q=Jerry%20Richardson"]Jerry Richardson[/url] [url="http://www.bizjournals.com/charlotte/blog/queen_city_agenda/2009/09/investor_says_big_cat_running_the_show.html"]forced them out in 2009[/url]. Until then, everyone assumed Mark and Jon Richardson would own and operate the team after their father’s death. Since then, Richardson and the Panthers have declined to disclose succession plans.[/background][/size][/font][/color]

[u][i][b][color=#444444][font=Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]And what does all of this talk about ownership have to do with taxpayer money helping pay for renovations at Bank of America Stadium? Simple, really. [/background][/size][/font][/color][color=#0000ff][size=4][background=rgb(255, 255, 255)]The Panthers need to be tied to the city before anyone not named Richardson becomes the owner of the franchise.[/background][/size][/color][/b][/i][/u]

[color=#444444][font=Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]An easy way to do that is to commit to the stadium overhaul the Panthers have been working on for much of the past year. The price tag: $125 million from the city, most likely through an additional 1 percent tax on restaurant meals and bar tabs. City Council heard a presentation from Richardson Monday night during a closed session, and, based on the few remarks offered by a handful of witnesses, he seems to have made a convincing argument.[/background][/size][/font][/color]
[/quote]JR isn't going to let the panthers leave charlotte.

he's tying charlotte to the panthers.

[quote]
[color=#444444][font='Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]
There is a legitimate sentiment when critics wonder why a man who has made tens of millions of dollars, if not more, from his private football business can’t pay for his own upgrades. The short answer is: Because he doesn’t have to.[/background][/size][/font][/color][color=#444444][font='Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]
From the $375 million renovation at Kansas City’s NFL stadium to the $975 million home of the Minnesota Vikings breaking ground next fall, taxpayers have repeatedly shown a willingness to use their money to keep their sports franchises happy. It may be irrational, immoral or ill-conceived, but the prominence and power of sports teams, especially those in the NFL, remains substantial. And no politician wants to be the one who let the home team get away on his or her watch.[/background][/size][/font][/color][color=#444444][font='Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]
.[/background][/size][/font][/color][color=#444444][font='Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]
.[/background][/size][/font][/color][color=#444444][font='Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]
.[/background][/size][/font][/color][color=#444444][font='Helvetica Neue', Helvetica, Arial, sans-serif][size=4][background=rgb(255, 255, 255)]
[url="http://www.bizjournals.com/charlotte/search/results?q=Marc%20Ganis"]Marc Ganis[/url], a Chicago-based consultant to pro sports teams, has told me several times in recent months that anything under $200 million would be a steal for taxpayers here to keep the NFL franchise. In smaller pro-sports cities, Ganis says, higher tax subsidies come with the territory. Charlotte (but not the fans who paid seat-license fees) largely escaped that the first time around, but now the choice is simple: Cut a deal for $125 million with Richardson and keep the team or risk the whims of another owner who may or may not want to spend his Sundays uptown.[/background][/size][/font][/color]
[/quote]
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Posted · Report post

At least he want's the panthers to stay after his death

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Any other Carolina big wigs you think would step up to the plate at that point?

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[quote name='Proudiddy' timestamp='1358342958' post='2099398']
Any other Carolina big wigs you think would step up to the plate at that point?
[/quote]me

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Posted · Report post

But really this is a good thing

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[quote]Any other Carolina big wigs you think would step up to the plate at that point?[/quote]


I think Felix Sabates is already a partial owner of the team (?maybe). He'd need a group to get that kind of $ together though, I'd think.

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[quote name='CardiacCats' timestamp='1358343165' post='2099401']
But really this is a good thing
[/quote]

I agree

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[quote name='catfang' timestamp='1358343200' post='2099402']
I think Felix Sabates is already a partial owner of the team (?maybe). He'd need a group to get that kind of $ together though, I'd think.
[/quote]
He was the first guy I thought of... Him and the NASCAR guys, but idk if I'd like that.

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[quote name='Proudiddy' timestamp='1358342958' post='2099398']
Any other Carolina big wigs you think would step up to the plate at that point?
[/quote]


emily maynard. shes much better to look at then the big cat. i love her

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[quote name='Proudiddy' timestamp='1358343458' post='2099408']
He was the first guy I thought of... Him and the NASCAR guys, but idk if I'd like that.
[/quote]

Not sure about that either. On the other hand, that kind of scenario would be an owners group who lets their GM do his job and run the team, the way it should be.

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As long as we don't end up with a Jerry Jones/Mike Brown/Daniel Snyder sort of owner I'm fine.

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