Potential $1.2B Panthers stadium renovation discussion

[Brooklyn 3.0]

12 minutes ago, LinvilleGorge said:

Which causes Charlotte residents to beam with pride for a moment and contributes literally nothing else. Seems like a shitty investment of $600M if you ask me.

Yep, cities have buildings. Pretty sure we've all seen a building. I lived in CLT for 18 years and have never seen a city with a bigger inferiority complex.

[ickmule]

21 hours ago, LinvilleGorge said:

Economic studies have shown that public spending on stadium projects is a terrible "investments" and essentially amounts to a handout to billionaires. Something feels extremely grifty about the numbers involved too. Jerryworld cost $1.4B to build in '04 and was considered wildly extravagant at the time. The Falcons' new stadium cost $1.6B. You're telling me you need $1.2B just to RENOVATE our current stadium? I call BULLSHIT.

Well it is a bunch of politicians involved, so…….. It’s most likely bullshit. 

[DeeJay]

If it fails they move the team tooooo

MEXICO

[BrisbanePanther]

6 hours ago, joemac said:

Pretty crazy that every pro sports team Oakland had, just a few years ago, has either left the city, or is in the process.  The Warriors play in San Francisco now, the Raiders hauled ass the Vegas, and the A's are not far behind them.  Sucks for Oakland sports fans.

And ironically, every single one of those teams moved to or will move to privately-financed arena/stadiums. The new A's stadium in Oakland would have been privately-financed as well.

Las Vegas actually has multiple private arenas.

[BrisbanePanther]

3 hours ago, LinvilleGorge said:

What is this "pull" though? I mean, let's be honest. Charlotte isn't a tourism destination. It's just not. It's not like someone is going to see a shot of the Charlotte skyline while watching a Panthers game and say, oh wow! What an amazing city! Let's go there for our next vacation.

Funny thing that this "pull" isn't show in any actual economic studies. The most likely conclusion is that it simply doesn't exist.

Actually, but from personal experience, seeing Charlotte on TV did cause me to look more into it and eventually move there for a while. Maybe I'm highly unique and the only person who's done so, but I doubt it. Was there enough like me to justify to cost of whatever it was that got Charlotte on TV? Not sure. But we do know that have entertainment and cultural offering plays a role in being attractive for corporate relocations--particularly HQs who tend to bring their higher-paid staff.

Ironically, know what else an economist will say is uneconomic? Schools, hospitals, and libraries. Those "investments" are wholly uneconomic in the classic sense--so much so that they rely on trying to attribute quantitative monetary value to their qualitative non-monetary social benefits, which is also squishy. And it also means weirdness that most are uncomfortable with like trying to put a price tag on a life when determining the number of hospital beds or surgeon suites to help people recover quicker (which goes back to the lost productivity value of them not working) or the expected income potential of a student if the student/teacher ratio is lowered through a new school or school expansion--assuming that the student stays in the region for the 30-year term that most economic studies work within. 

That's why I go back to the simple rightness/wrongness of public dollars supporting billion-dollar industries (oh, but then again, if we follow that tether, massive road expansions also subsidize billion dollar industries if they aren't tolled so maybe we accept subsidizing one vs the other based on the perceived benefit to us individually). That may be the core issue here, but relying on economics to support the position can turn into the equivalent of "live by the three, die by the three" when taking a stance.

[pantherclaw]

On 5/4/2023 at 8:15 PM, Daddy_Uncle said:

Then why doesn't he just build new

And you think the current estimate is high...

[3838]

On 5/4/2023 at 5:37 PM, Tbe said:

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

Sorry to disagree but throwing money at schools doesn't seem to be helping.

[Daddy_Uncle]

1 hour ago, pantherclaw said:

And you think the current estimate is high...

[Barney]

 

Not sure what the right solution here is.  

Edited May 8, 2023 by Barney

[Icege]

I wonder if this is linked to the Panthers' interest in hosting the NFL Draft in 2026. Could feed into future plans (if any) to host a Super Bowl in Charlotte.

[BeenPounding]

On 5/4/2023 at 5:46 PM, 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?

It stops him from moving the team to the North part of Charlotte or even Cabarrus County.  There is land, infrastructure, and growth all up there.  Imagine what could be done on all the extra land that is located around the Speedway.  There is TONS of it.

[X-Clown]

Hey everybody GRITS has an opinion on this topic.

[CamWhoaaCam]

On 5/8/2023 at 9:27 AM, Icege said:

I wonder if this is linked to the Panthers' interest in hosting the NFL Draft in 2026. Could feed into future plans (if any) to host a Super Bowl in Charlotte.

Is Charlotte big enough to host a SB?

 

I mean they have hosted allstar games but the SB is a different beast...

[csx]

On 5/6/2023 at 1:17 AM, Brooklyn 3.0 said:

Yep, cities have buildings. Pretty sure we've all seen a building. I lived in CLT for 18 years and have never seen a city with a bigger inferiority complex.

Raleigh