Voters have officially chosen not to give a $2 billion handout to the billionaire owners of the Kansas City Chiefs and Royals.

[csx]

12 minutes ago, Move the Panthers to Raleigh said:

Hopefully more cities follow suit. When is Charlotte up for this?

Our stadium isn't publically owned. Theirs is. So a bit more fair for them to invest in a revenue stream. 

We definitely shouldn't because Tepper owns the stadium and gets all the revenues 

[Khyber53]

13 hours ago, MHS831 said:

Can't figure out where these billionaires got the idea that the common worker should pay their taxes and expenses. 

 

And the tickets and the parking and the jacked up concessions and the merchandise...

Hmmm, I think I figured out how they are billionaires.

[Riverboat Ron]

I’m sure if they gave them the $2Billion it would trickle down eventually. lol.

[thunderraiden]

13 hours ago, LinvilleGorge said:

Good. Every economic study that I'm aware of that has looked into the issue has concluded that use of public funds for sports stadiums is a terrible investment.

Ehh, they never do a study on the town after they leave, pretty poor studies that dont include a lot of datapoints and are limited in scope to be honest and they often leave out a lot, the size of the city is def going to impact economic calculations, as well as the absence of the team, and lack of tax income from their employees . However we can see from St Louis that they are losing $115M a year since the Rams left based on their lawsuit settlement a couple years ago with the NFL. https://www.cnbc.com/2021/11/24/nfl-and-rams-reach-more-than-700-million-settlement-in-st-louis-relocation-case-report-says.html
 

$1 billion in public funds over 20/30 years for $115M per year in return isn't a bad deal. St Louis was already falling off a cliff population growth wise when the Rams left but by God if their decline hasn't sped up instead of slowed down since they left.

Sure, if you are a major metropolitan area, tell the NFL to shove it up their ass, but if you're a small or medium sized city, tread with caution.

[PanthersATL]

14 hours ago, LinvilleGorge said:

Good. Every economic study that I'm aware of that has looked into the issue has concluded that use of public funds for sports stadiums is a terrible investment.

This is a good read that seems to explain things a bit

https://www.stlouisfed.org/publications/regional-economist/april-2001/should-cities-pay-for-sports-facilities

[LinvilleGorge]

33 minutes ago, thunderraiden said:

St Louis was already falling off a cliff 

This is the key part.

[electro's horse]

16 hours ago, OneBadCat said:

Same way the became billionaires. Stole it. 

listen tepper worked very hard moving numbers around a spreadsheet to get the money on paper to buy up deliquent debt for pennies on the dollar that the government cleared for massive profits and if you have a problem with this well then you're not an AMERICAN

[electro's horse]

seriously panthers fans should try to make something out of the horror show this team has become and examine the systems that permit a moron like david tepper to make enough fake fun bucks to buy the team and run it into the ground. 

"Well he made a lot of money so....."

to quote Dorothy Parker, "If you want to know what God thinks about money, look who he gave it to." 

[Donald LaFell]

16 hours ago, LinvilleGorge said:

Good. Every economic study that I'm aware of that has looked into the issue has concluded that use of public funds for sports stadiums is a terrible investment.

I mean just look at South End and Noda Development vs 1st Ward. 

im willing to pay for a stadium if the city owns it and largely benefits from it. Also if it dictates if the owner can move the team or not. It never feels worth it. 

[t96]

18 hours ago, OneBadCat said:

Same way the became billionaires. Stole it. 

True of many, not all.