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Article on Jerry Richardson's Succession Plans


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#106 PantherBrew

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Posted 17 January 2013 - 10:54 AM

I say the Panthers benefit from being in Charlotte more so than Charlotte benefits from the Panthers.


Then we have a fundamental disagreement.

I see it as the opposite.

Not that is really gives definite answers, and has flaws. But there is an interesting study about the economic impact of pro sports in Charlotte.

http://www.charlotte...ortsEconomy.pdf

#107 fieryprophet

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Posted 17 January 2013 - 10:54 AM

If you don't like city governments giving tax money to teams, just stick with that complaint. I can at least respect that opinion. But people calling JR cheap is total bullshit.

#108 Firefox

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Posted 17 January 2013 - 10:57 AM

And you would be wrong. The economic footprint provided to local business on game days as well as the socio-economic benefit to the city of having a professional football team as it relates to business growth and real estate sales. You could go on and on, but an NFL team provides the city and surrounding businesses with millions upon millions of dollars of revenue that the team doesn't directly see.


http://news.illinois...17stadiums.html

#109 fieryprophet

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Posted 17 January 2013 - 10:57 AM

Then we have a fundamental disagreement.

I see it as the opposite.

Not that is really gives definite answers, and has flaws. But there is an interesting study about the economic impact of pro sports in Charlotte.

http://www.charlotte...ortsEconomy.pdf


Summary: 23k jobs, and over $2 billion in related income. Per year.

#110 Panthro

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Posted 17 January 2013 - 10:58 AM

And you would be wrong. The economic footprint provided to local business on game days as well as the socio-economic benefit to the city of having a professional football team as it relates to business growth and real estate sales. You could go on and on, but an NFL team provides the city and surrounding businesses with millions upon millions of dollars of revenue that the team doesn't directly see.


So do lot's of other billion dollar businesses in CLT. Glad you are ok with corporate welfare.

#111 fieryprophet

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Posted 17 January 2013 - 11:01 AM

http://news.illinois...17stadiums.html


The Panthers stadium will cost Charlotte taxpayers a total of $210 million over a 30 year period. The stadiums mentioned in that report were funded in much higher proportions by taxpayers, often in the neighborhood of $1 billion. Their impact would obviously be much more muted in comparison to the Panthers.

#112 Floppin

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Posted 17 January 2013 - 11:02 AM

http://news.illinois...17stadiums.html


Yeah, I've read that. I've also read this :
http://www.humankine...d-Public-Policy

Here's an excerpt, that generally agrees with what that study says. But there are other parts of the book that focus on different metrics that posit the exact opposite. Point being, it depends on what factors you want to look at, as with most statistics. You can prove either point, I just happen to be in the camp that it benefits the local economy, not the other way around.


The significant investment by local governments suggests that the economic returns of sport must be quite large. Indeed economic benefits are often proffered as the justification for sport subsidies. Teams, stadiums, and events are commonly promoted as economic catalysts. For example, in 1997 a group campaigning for a new publicly funded football stadium for the San Francisco 49ers used the slogan “Build the Stadium—Create the Jobs!” (Epstein, 1997). The Oregon Stadium Campaign, a group working to bring major-league baseball to Portland, ran an ad in the local newspaper that read, “$150 million company seeks move to Oregon. Will bring jobs, development, snappy new uniforms.”

If you have read the previous chapters of this book, we hope that you are now convinced that talking about sport as big business is legitimate. Sport leagues cater to ever-expanding global markets. Wealthy individuals and powerful conglomerates buy and sell teams for hundreds of millions of dollars. Unions struggle with owners for their share of revenue, and salaries climb increasingly higher, in part because of escalating television contracts. Big business indeed, but how big is big? By many indicators, sport teams as individual firms play only minor roles within complex urban economies.

Many professional sport teams have annual revenues that exceed $100 million. Average annual revenues are approximately $155 million in the NFL, $130 million in MLB, $95 million in the NBA, and $70 million in the NHL (Zimbalist, 2003). These numbers may seem large, but some comparisons can provide perspective. If you are enrolled in a state university, chances are that your school takes in more revenue and spends more than the closest professional sport team. For example, Portland State University has a budget of nearly $200 million, more than twice that of the Portland Trailblazers. For another comparison, consider this: In 2003 the average Costco wholesale store had annual sales of $113 million, exceeding the revenues of most sport teams (Heylar, 2003). Few would expect a big-box warehouse store to be a major player in an urban economy, yet they are typically bigger businesses than sport teams. Of course, the local warehouse store does not have devoted fans who wear Costco hats, paint their faces in Costco blue and red, and follow the successes and failures of the store on the nightly news. We will discuss those benefits (consumption benefits) in the next chapter, but for now let us focus on the role of sport teams in the local economy.



#113 Panthro

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Posted 17 January 2013 - 11:02 AM

The Charlotte economy grew.....and we got some sports franchises


correlationz!!!

#114 Floppin

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Posted 17 January 2013 - 11:03 AM

So do lot's of other billion dollar businesses in CLT. Glad you are ok with corporate welfare.


Almost all billion dollar businesses get public funds of some sort or another. Glad you don't complain about public welfare except when it's against the Panthers because you have beef with the way that the team has been playing.

#115 Panthro

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Posted 17 January 2013 - 11:05 AM

Point being Charlotte was growing at a rapid rate before the sports teams located here.

Charlotte provided an area of the country where a sports franchise could flourish.

One has more to do with the success than the other

#116 Panthro

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Posted 17 January 2013 - 11:08 AM

Almost all billion dollar businesses get public funds of some sort or another. Glad you don't complain about public welfare except when it's against the Panthers because you have beef with the way that the team has been playing.

I'm actually not ok with it.

Glad you are ok with it because omgz you love the Panthers.

#117 Floppin

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Posted 17 January 2013 - 11:09 AM

Point being Charlotte was growing at a rapid rate before the sports teams located here.

Charlotte provided an area of the country where a sports franchise could flourish.

One has more to do with the success than the other


This doesn't discount the fact that it's a symbiotic relationship, as such the city is willing to provide funds to maintain a healthy business relationship. Simply allowing the Panthers to exist is not a valid argument.

#118 Panthro

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Posted 17 January 2013 - 11:14 AM

This doesn't discount the fact that it's a symbiotic relationship, as such the city is willing to provide funds to maintain a healthy business relationship. Simply allowing the Panthers to exist is not a valid argument.


The city already invests in the areas around the stadium and improving the city's infrastructure. Hell building a baseball stadium with public funds is a better use of money. There is no ROI and there is no cost justification. This is a shake down the Panthers are performing based on the fears of Shinn/Hornets v2.0

I have no issue with the ticket holders paying for the renovations in this case.

#119 Floppin

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Posted 17 January 2013 - 11:15 AM

I'm actually not ok with it.

Glad you are ok with it because omgz you love the Panthers.


Meh, I thought I remembered you arguing for bailout and certain "corporate welfare" programs in the TB. Perhaps, I'm mistaken.

Regardless, this isn't a "corporate welfare" case. The Panthers aren't failing and aren't asking to be bailed out. They have asked for the city, based on mutual benefit, to share part of the renovation cost of the stadium. You realize that the city isn't paying the entire bill right, the team is putting in a large portion as well - generally equal to the City's portion?

#120 Floppin

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Posted 17 January 2013 - 11:17 AM

The city already invests in the areas around the stadium and improving the city's infrastructure. Hell building a baseball stadium with public funds is a better use of money. There is no ROI and there is no cost justification. This is a shake down the Panthers are performing based on the fears of Shinn/Hornets v2.0

I have no issue with the ticket holders paying for the renovations in this case.


Well, no. That's just the spin that you want to put on it. The City wants the team here, and they jumped a chance to tie the team, financially, to the city. This wasn't the main motivation behind the deal though.


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