Panthers propose 10 year tether, 6 year "hard" tether

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@CBJspanberg: Panthers propose 10-yr tether for $112.5M stadium improvements. $75M from city; 6-yr 'hard' tether.

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@CBJspanberg: Economic dev committee to discuss revamped Panthers proposal in a few minutes at Govt Center.

[Stroupe-a-loop]

Look, give the team the money or don't. If a new owner really wants to move the team, they will. A "hard" tether for six years isn't going to stop it.

[SCP]

Look, give the team the money or don't. If a new owner really wants to move the team, they will. A "hard" tether for six years isn't going to stop it.

Yep. This will just determine how much it will cost the owner to move.

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@CBJspanberg: Total stadium deal would go from $300M to $147.5M. Split is 59% city, 41% Panthers. City totals $87.5M.

[Delhommey]

Expand the metro system or give a rich guy a large welfare check in hopes he doesn't take our team away.

Decisions, decisions.

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@CBJspanberg: Panthers are credited with $10M investment for maintenance costs at team-owned stadium. Also $12.5M for 5 rent-free days to city for 10 yrs

[SCP]

Expand the metro system or give a rich guy a large welfare check in hopes he doesn't take our team away.

Decisions, decisions.

What do you care for? You live in TX.

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@CBJspanberg: Annual city free events include Belk Bowl plus 4 more events each year: concerts, soccer, etc, deputy city manager says.

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@CBJspanberg: Previous proposal called for $144M from city and $63M from state. Now public reduced to $88M, all city money.

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@CBJspanberg: Panthers tether would have been 15 yrs; now is 10 years but only first 6 yrs of deal carry 'hard tether' of penalties.

[Stroupe-a-loop]

Expand the metro system or give a rich guy a large welfare check in hopes he doesn't take our team away.

Decisions, decisions.

I think Richardson has talked himself into thinking this is good for the community and ties the team here long term after he's gone. It's a "favor" to us. But seriously, if you want to be captain awesome, you could just sell a large stake of the team now to somebody who wants the team to stay here.

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@CBJspanberg: Deal leaves $11M in conv center reserve fund. Kimble calls it 'slim margin' but says city likely to seek more from state for conv ctr later.

@CBJspanberg: Projects omitted because of smaller deal include club seat/suite improvements, indoor practice field, upgrades to team store.

[SCP]

@CBJspanberg: City would split contributions into three payments to Panthers: 2014, 2016 and 2018.

@CBJspanberg: Panthers deal includes minority, women and small biz provisions. Aggregate goal is 16% for phase 1.

@CBJspanberg: Tether for team is proportional to public capital dollars contributed or $12.5M per year.