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Potential $1.2B Panthers stadium renovation discussion

Lame Duck

By Lame Duck,
in Carolina Panthers

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Pantherzilla91 Community Regular

Pantherzilla91

Posted
Posted
4 minutes ago, jayboogieman said:

The city would be much better off to invest that money in infrastructure, mental health help, the homeless, education, or lots of other things than giving it to Tepper, especially just for a renovation. If he threatens to move the team over it, tell him buy.

What an ignorant post 

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Tbe Grand Master

Tbe

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1 minute ago, TheSpecialJuan said:

Do it or Tepper walks and takes the team with him 


No he won’t. This isn’t Oakland. The NFL won’t let a top 10 population state not have a team. 
 

Given Tepper blew his reputation in SC, he doesn’t have any options unless Raleigh wants to give him money.

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Tbe Grand Master

Tbe

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Just now, Pantherzilla91 said:

How does that benefit me as a fan?

You don’t matter. How does giving 600 million of Meck co and Charlotte city tax dollars to a multi-billionair benefit tax payers?

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jayboogieman Grand Master

jayboogieman

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5 minutes ago, TheSpecialJuan said:

Do it or Tepper walks and takes the team with him 

And? He can afford to renovate the stadium or even build a new one himself and it wouldn't really hurt his worth. Raising taxes for this or shifting money away from other programs hurts the citizens of the city.

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Pantherzilla91 Community Regular

Pantherzilla91

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3 minutes ago, jayboogieman said:

And? He can afford to renovate the stadium or even build a new one himself and it wouldn't really hurt his worth. Raising taxes for this or shifting money away from other programs hurts the citizens of the city.

Glad you don’t care about the team 

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The Crown and the Claw Enthusiast

The Crown and the Claw

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22 minutes ago, jayboogieman said:

The city would be much better off to invest that money in infrastructure, mental health help, the homeless, education, or lots of other things than giving it to Tepper, especially just for a renovation. If he threatens to move the team over it, tell him bye.

*NO INSIDER INFO ON THIS TOPIC*
 

However I did want to clear up misconceptions like this one. City/County Governments have entertainment and tourism budgets earmarked specifically for projects like these. They CANNOT use that money for things such as schools or other infrastructures. It is a completely different pool of resources and does not impact in any way the other budgets

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Smithers Grand Master

Smithers

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25 minutes ago, Jon Snow said:

Have you seen the cost of materials and labor in the construction industry lately?! A new stadium like Jerry World would cost over $3B today.  I would have to see the details of this "renovation" being proposed before I have an educated opinion on this venture.  

For reference, the recently announced new Titans stadium is 2.1B.  A renovation cost this high must include something extravagant.  

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Tbe Grand Master

Tbe

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Just now, Smithers said:

For reference, the recently announced new Titans stadium is 2.1B.  A renovation cost this high must include something extravagant.  


It also includes new practice facilities like what was scrapped in Rock hill.

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Smithers Grand Master

Smithers

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Just now, The Crown and the Claw said:

*NO INSIDER INFO ON THIS TOPIC*
 

However I did want to clear up misconceptions like this one. City/County Governments have entertainment and tourism budgets earmarked specifically for projects like these. They CANNOT use that money for things such as schools or other infrastructures. It is a completely different pool of resources and does not impact in any way the other budgets

Spot on.  I work in local govt mgmt - tourism dollars are governed by state law.  Occupancy tax revenues (likely in the hundreds of millions in Charlotte) come from taxes on hotel stays.  That money can only be spent on tourist and entertainment related expenses that put “heads in beds.”  

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Raleigh PF Rising Star

Raleigh PF

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The NFL pulled in just over 18 BILLION last year in revenue. You would have to think that taking a percentage of that money and setting it aside for "Infrastructure" would be a prudent course of action.

Let's say they take 5% off the top. That's about $900,000,000 per year they could set aside. Surely they would be able to collect enough money to provide "loans" to NFL teams who would pay them back, meanwhile writing off a good chunk of that on their taxes. Kinda seems like a win-win just waiting to be exploited.

And then there's depreciation.

What am I missing?

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