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Charlotte “unlikely” to contribute taxpayer money for new Panthers headquarters

TheSpecialJuan
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Mr. Scot Grand Master

Mr. Scot

Posted
Posted
11 minutes ago, ChapelHeel80 said:

Tepper is turning into a nightmare owner. What have we gotten ourselves into here? 

Technically, the NFL got us into it.

As I recall, sentiment around here generally favored Ben Navarro.

Would he have been better? Don't know, but so far Tepper is horse sh-t.

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ChapelHeel80 Explorer

ChapelHeel80

Posted
Posted
5 minutes ago, Mr. Scot said:

Technically, the NFL got us into it.

As I recall, sentiment around here generally favored Ben Navarro.

Would he have been better? Don't know, but so far Tepper is horse sh-t.

Fair. None the less. This hasn't been a good journey. 

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4Corners Grand Master

4Corners

Posted
Posted
17 minutes ago, ChapelHeel80 said:

Tepper is turning into a nightmare owner. What have we gotten ourselves into here? 

I wouldn’t go that far. I don’t think he is going to embarrass the city or team by being a pervert, racist shithead, or criminal like some of the other owners in the league. 

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4Corners Grand Master

4Corners

Posted
Posted
6 minutes ago, Mr. Scot said:

Technically, the NFL got us into it.

As I recall, sentiment around here generally favored Ben Navarro.

Would he have been better? Don't know, but so far Tepper is horse sh-t.

Someone correct me if I’m wrong, but wasn’t Navarro vetted and the other owners came to the conclusion to exclude him because they didn’t like the way he became a billionaire? Something along the lines of predatory lending and buying up debts off companies and suing the poo out of the the delinquents and taking everything that they had? 

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SizzleBuzz Grand Master

SizzleBuzz

Posted
Posted (edited)

Navarro didn't have the requisite funds to transact for a team in the National Football League🤦‍♂️...

...maybe he could handle a soccer team 🤣.

Also, given the hate so many have for Tepper and his pedigree of being a former Goldman Sachs yankee hedge-fund owning billionaire with a plaque of brass balls (a gift from a grateful client BTW)...

...you'd really despise Navarro once learned how he made the money he does have (and don't be fooled, he's a yankee transplant just like Tepper).

Edited by SizzleBuzz
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SizzleBuzz Grand Master

SizzleBuzz

Posted
Posted (edited)
13 minutes ago, 4Corners said:

Someone correct me if I’m wrong, but wasn’t Navarro vetted and the other owners came to the conclusion to exclude him because they didn’t like the way he became a billionaire? Something along the lines of predatory lending and buying up debts off companies and suing the poo out of the the delinquents and taking everything that they had? 

☝️👆🤔🧐👊

(that and he didn't have the money)

Edited by SizzleBuzz
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Billy Love Mentor

Billy Love

Posted
Posted
3 minutes ago, SizzleBuzz said:

Navarro didn't have the requisite funds to transact for an NFL team🤦‍♂️.

Also, given the hate so many have for Tepper and his pedigree of being a former Goldman Sachs yankee hedge-fund owning billionaire with a plaque of brass balls (a gift from a grateful client BTW)...

...you'd really despise Navarro once learned how he made the money he does have (and don't be fooled, he's a yankee transplant just like Tepper).

If I remember correctly, Navarro put together an investment group and an offer that was reported to be higher than the Tepper offer. The NFL didn't like Navarro being in the "collections business" and preferred the lower offer from a single individual. 

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1of10Charnatives Mentor

1of10Charnatives

Posted
Posted
2 hours ago, SizzleBuzz said:

The city of Green Bay has no claim to any of the revenues or profits (nor do they participate in the losses for that matter) generated by the Packers.

The Packers have a long-term joint-lease with the city and stadium-authority that requires them to make payments in order to conduct operations within Lambeau Field.  They also have certain financial obligations as it goes to field and stadium maintenance.  Also, from time to time they do contribute cash when the city/stadium-authority makes upgrades to or expands Lambeau.

The Packers also have a charitable foundation from which they make hundreds of cash grants (generally less than $10k per) to a wide swath of local organizations — the aggregate of all contributions is slightly less than $2 million, foundation financials here:  https://apps.irs.gov/pub/epostcard/cor/391577137_201903_990PF_2020112517457883.pdf

The Packers are very well run and are almost always profitable but those net-earnings are retained/reinvested by the Packers, they are not turned over to the city.

 

 

4D7E0C83-AE66-42AA-AD97-E987FD25BC85.jpeg

Do the profits get paid to a private owner or owners? 

No. That is the germane point here. Thanks for clearing up details, but for purposes of our discussion, my point was costs socialized while profits are privatized is the problematic model.

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SizzleBuzz Grand Master

SizzleBuzz

Posted
Posted (edited)
14 minutes ago, Billy Love said:

If I remember correctly, Navarro put together an investment group and an offer that was reported to be higher than the Tepper offer. The NFL didn't like Navarro being in the "collections business" and preferred the lower offer from a single individual. 

Who were the partners in the "investment group"...?

Edited by SizzleBuzz
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