Potential $1.2B Panthers stadium renovation discussion

[Pantherzilla91]

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 

[Pantherzilla91]

7 minutes ago, Tbe said:

CMS schools are terrible. Let’s give them 600 mill instead.

How does that benefit me as a fan?

[Tbe]

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.

[Tbe]

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?

[jayboogieman]

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.

[Pantherzilla91]

4 minutes ago, Tbe said:

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

They get an NFL team 

[Pantherzilla91]

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 

[LordOfDaWingz]

14 minutes ago, Tbe said:

CMS schools are terrible. Let’s give them 600 mill instead.

CMS schools are terrible bc of the leadership. Give them $600 mil and it will only be seen by those who don’t need it. Used to be one of the best school systems smh. 

[The Crown and the Claw]

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

[Tbe]

8 minutes ago, Pantherzilla91 said:

They get an NFL team 

Unless Raleigh wants to give him billions to build a brand new stadium from the ground up, he has nowhere to go

[Smithers]

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.  

[Tbe]

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.

[Smithers]

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.”  

[Raleigh PF]

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?