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splurge on BofA Stadium renovations named 2024’s ‘Worst Economic Development Deal of the Year’

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BrisbanePanther Mentor

BrisbanePanther

Posted
Posted (edited)
5 hours ago, Waldo said:

Is high cost, lack of transparency, poor returns and questionable economic justifications the Tepper Sports & Entertainment's mission statement core?

 

 

Side question...is Tepper on an island with that? I'd say no. In fact I'd say all major corporate types in the US are the same because they know the FOMO game that cities play. Remember the stupid contest amongst cities and states to get Amazon's HQ2? They probably spent billions to win the right to give Amazon billions for something that likely has dubious economic returns due to how long the development will be drawn out.

Edited by BrisbanePanther
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Sup Contributor

Sup

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8 hours ago, countryboi said:

It feels a bit disingenuous to name stadium renovations the worst development deal of the year. I mean, who else was in the category, a QuikTrip? a new McDonald's? New stadiums and renovations are in a class by themselves. They are always going to be subsidized because there's always another local government willing to court their tax dollars.

This is just how things are done in professional sports.

Not a football stadium, but the 76ers are paying for their own new arena in Philadelphia.

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electro's horse Grand Master

electro's horse

Posted
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10 hours ago, Panthercougar68 said:

They have an axe to grind with Tepper from the business world because they attacked Rock Hill too but Nashville (1.2 Billion in public money) and Western New York (850 million in public money) deals are worse if you’re attacking stadium deals.

axe to grind is a weird way to say tepper is an incompetent poo head when he's not moving numbers around a spreadsheet, as evidenced by /gestures broadly

nasheville was in 2022 so not sure what that has to do with teh worst deal this year

giving anything at all to this buffoon automatically makes it worse. public money for stadiums is always reprehensible, but at least the bills are a functioning organization. the panthers have been the worst team in professional NA sports since that cuck bought them.

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Waldo Grand Master

Waldo

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8 hours ago, BrisbanePanther said:

Side question...is Tepper on an island with that? I'd say no. In fact I'd say all major corporate types in the US are the same because they know the FOMO game that cities play. Remember the stupid contest amongst cities and states to get Amazon's HQ2? They probably spent billions to win the right to give Amazon billions for something that likely has dubious economic returns due to how long the development will be drawn out.

It literally says it pulled away from the pack so yeah it was a stand out compared to the usual level. Same as in SC. Plenty of corporate welfare in America but Tepper has shown his has those issue when he is involved.

I have no idea how it looks from the outside but businesses like Walmart and Amazon all do it a little different. The NFL does stadiums and taxes but even their deals are unique from each other. Tepper is now known for bad public deals at this point with the last one not as bad as SC but it certainly wasn't good.

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CmC2k Mentor

CmC2k

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17 hours ago, CanadianCat said:

I hate government money being spend on stadiums.. 

I hate giving billionaire's government money but if it's at least going to things that'll improve the average fan experience and keep the Panthers in charlotte then I can understand the move. Now if we do something like KC where they wanted tax payer money to build a private walkway and improved suites for VIP members and players things that the average fan will never see, use or benefit from then that I'm 100% against. 

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CBDellinger Mentor

CBDellinger

Posted
Posted (edited)

I am not in favor of giving billionaires money.  But unfortunately this is how the vast majority of these deals work.

In this case the money is coming from the hospitality and tourism fund which by state law has to be used for projects that generate tourism dollars.  They have the money in the budget, it doesn’t require a tax increase and Tepper is matching the public contribution. That’s about as good as it gets for a deal like this. 

Be thankful we aren’t dealing with KCs stadium situation.  They’ve been trying to get a deal don’t for 20 years and still aren’t close.  Arrowhead is a dump in the middle of nowhere 

Edited by CBDellinger
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