Mecklenburg County manager says no to public funding for Panthers

[USDepartmentOfSavagery]

1 hour ago, LinvilleGorge said:

Tepper will get his money. And the city of Charlotte will tell it's residents that it can't afford to provide for basic municipal needs because of budget constraints. We live in an oligarchy larping as a democracy and we have for awhile now.

They’ll just throw tens of millions into the dysfunctional CATS light rail nightmare 

[Raleigh PF]

With the hundreds of millions of dollars the NFL makes every year, they should designate a small percentage towards a stadium renovation/replacement fund for the teams. It really wouldn't take much out of the owner's pockets to fund improvements and new stadiums if they understand that it improves their profitability to do so. 

Problem is, most owners don't want to own a stadium. That's a lot of upkeep for a facility they only use 10-12 times per year.

[LinvilleGorge]

44 minutes ago, Raleigh PF said:

With the hundreds of millions of dollars the NFL makes every year, they should designate a small percentage towards a stadium renovation/replacement fund for the teams. It really wouldn't take much out of the owner's pockets to fund improvements and new stadiums if they understand that it improves their profitability to do so. 

Problem is, most owners don't want to own a stadium. That's a lot of upkeep for a facility they only use 10-12 times per year.

Why spend the money yourselves if you can fleece local municipalities out of it?

[Panthercougar68]

There is a reason Dave and Vi Lyles are seen together a lot and not the county manager.

[ChibCU]

5 hours ago, LinvilleGorge said:

Tepper will get his money. And the city of Charlotte will tell it's residents that it can't afford to provide for basic municipal needs because of budget constraints. We live in an oligarchy larping as a democracy and we have for awhile now.

More so a plutocracy, but general idea is the same.

[NAS]

Sorry but city will have to contribute, there is a huge economic benefit associated with the Panthers that cannot be ignored.  However, I don't think the City should contribute more than 25-30% of the cost.  

The rest should be covered by Tepper and the state of NC. 

 

 

[Basbear]

[TheSpecialJuan]

9 hours ago, SaltAndPepper said:

https://pantherswire.usatoday.com/2023/07/09/panthers-mecklenburg-county-david-tepper-funding-bank-of-america-stadium/

 

 

Big ole Big Daddy Tepper isn't going to be happy about this, I imagine.

Step forward those who would serve. For and army will be raised. The powerful will be ripped from their decadent nests, and cast out into the cold world that we know and endure. Courts will be convened. Spoils will be enjoyed. Blood will be shed. The police will survive, as they learn to serve true justice. This great city... it will endure. 

[Khyber53]

If it is such a great, then Tepper could do it all himself and really reap some incredible rewards.

But, honestly, part of what makes it such a money maker for guys like him is that we rubes foot half or more of the bill, then pay for all the tickets, the hotdogs, the parking, the tshirts, the commemorative bath mats...

Yeah, let's stop with the corporate welfare, especially for a billionaire's toy.

I mean, hey, we enjoy it, they enjoy it. Let's not sully it with tax monies.

Now if he wants to cut a deal with us like 51% of the franchise, guaranteed home in Charlotte and a heavier split in all revenues... maybe we could talk. But he won't. He likes us as suckers.

[BrisbanePanther]

If public funding is involved, I think it could be reasonable for the city to re-route some public funding to Tepper for the things that he claims that the stadium generates.

Example--all tax collected from spending at certain establishments within a small radius (say 2-5 miles) of the stadium on game days/event days that's above and beyond the trendline goes to repaying stadium debt (so, all restaurants, hotels, bars, retail, etc). It's basically a moving TIF tied directly to stadium performance. And if the stadium is rebuilt as-is with no roof (cheaper, but also a limit on events), maybe the deal is for 30 years and if it's with a roof (more expensive, but unlimited events), then it's 50 years. They could host 8 Final Fours, get into the College Football Championship rotation, and more int'l soccer matches and probably make all they need. The city is better off too since it would still capture everything beyond the radius.

[CmC2k]

If Tepper wants any taxpayer money, then the least he could do is return us back to a natural grass playing field. Despite all the disagreements and animosity, we have towards each other sometimes returning to a natural grass field is the one thing universally agreed upon and wanted by the fanbase, players, and media. 

[panthers55]

Seems most of the city's money that they have earmarked for Bof A is from the tourist taxes on food and hotel stays. It isn't taxing city or county residents unless they start talking out  bonds the city has to pay back. What am I missing?

 

[LinvilleGorge]

5 hours ago, NAS said:

Sorry but city will have to contribute, there is a huge economic benefit associated with the Panthers that cannot be ignored.  

Except that every legit financial study conducted has found that public investment into professional athletic stadium provides a terrible ROI. 

https://better-cities.org/economic-prosperity/sports-stadium-subsidies-fair-or-foul/

[NAS]

1 hour ago, LinvilleGorge said:

Except that every legit financial study conducted has found that public investment into professional athletic stadium provides a terrible ROI. 

https://better-cities.org/economic-prosperity/sports-stadium-subsidies-fair-or-foul/

Probably true if you look at it from a stadium perspective only, but what’s the ROI on having the Panthers team in Charlotte and in NC?   Hypothetically speaking if Tepper moved the team to a city that is willing to subsidize a new stadium, do you really believe there wouldn’t be a substantial  economic hit to Charlotte and the Carolinas?