Panthers deal approved unanimously

[SCP]

Still don't feel like this means the panthers are here to stay... In reality this means nothing once JR dies, right?

This deal basically buys us 6 years to negotiate a better deal when the political climate might be a little friendlier. JRs shares in the team will go to the highest bidder after he passes. It could be a local purchase or it could be somebody with their sights set on bringing a team to city "X". But at least it buys us 6 years. See JRs quote about him being the best tether.

[CatMan72]

Here's a pic I took of JR addressing the city council (sorry for the quality):

[Delhommey]

Well, I'm glad y'all finally got the the large welfare check to the rich guy so he could give you a non-binding promise to not move the team.

[MadHatter]

Well, I'm glad y'all finally got the the large welfare check to the rich guy so he could give you a non-binding promise to not move the team.

The amount of tax dollars spent on the stadium is a fraction of what most cities have invested in their stadiums and teams....not even close.

There is a valid arguement that tax dollars should not go to companies as incentives to move to a city or to not leave a city. But, as long as this is norm, it is the price to play the game.

The amount of tax dollars invested is a fraction of amount of tax revenue that the team generates.

[CatMan72]

Well, I'm glad y'all finally got the the large welfare check to the rich guy so he could give you a non-binding promise to not move the team.

The first 6 years is very much a binding agreement, a local judge could issue an injunction requiring the Panthers to continue playing all of their games in Charlotte until the end of the 6 year term.

If the Panthers leave after that the city can buy the stadium for 1 dollar and offer it to another franchise for free.

Sounds like a pretty good deal to me under the circumstances... the USC study determined that the Panthers are worth 512 mil a year to the Mecklenburg County alone, an 87 mil dollar investment to secure 512 mil dollars of revenue for the next six years.

[CatMan72]

I do hope they add a clause to this contract that would also require the team to leave the name "Panthers" in Charlotte if they leave.

[Delhommey]

The first 6 years is very much a binding agreement, a local judge could issue an injunction requiring the Panthers to continue playing all of their games in Charlotte until the end of the 6 year term.

If the Panthers leave after that the city can buy the stadium for 1 dollar and offer it to another franchise for free.

Sounds like a pretty good deal to me under the circumstances... the USC study determined that the Panthers are worth 512 mil a year to the Mecklenburg County alone, an 87 mil dollar investment to secure 512 mil dollars of revenue for the next six years.

It's been shown time and again that large investments in sports stadiums are losing investments, so to show otherwise would be pretty revolutionary. Most likely this study involved the same data massaging you find on these pro-sports team papers.

I'm not saying having a sports team has no value. Things like parks and children have enormous value while making little to no economic sense whatsoever. Just please stop trying to sell these stadium shakedowns as economic wins for the city, county, or state. They're not and never will be.

[CatMan72]

It's been shown time and again that large investments in sports stadiums are losing investments, so to show otherwise would be pretty revolutionary. Most likely this study involved the same data massaging you find on these pro-sports team papers.

I'm not saying having a sports team has no value. Things like parks and children have enormous value while making little to no economic sense whatsoever. Just please stop trying to sell these stadium shakedowns as economic wins for the city, county, or state. They're not and never will be.

I didn't break down the study conducted by USC, but I can't imagine the amount of massaging you'd have to do to get from zero financial benefit to 512 mil.

Let's say the benefit is only 200 million, that's still a pretty good return on investment for the city/county.

[Delhommey]

http://www.fieldofschemes.com/2013/04/01/4822/nine-out-of-ten-economists-agree-sports-stadium-subsidies-are-dumb/

[CatMan72]

http://www.fieldofsc...idies-are-dumb/

I didn't read the full article it linked to, but that focuses on what happens to the money that folks spend in the stadium and a very loose association the Rays made with how much money they bring in via tourism.

There are many more streams of revenue a team could be responsible for, including the amount of state income tax the players pay (as an example).

I'm going to search for a copy of the USC study so I can see how they arrived at their conclusions, if there was any "fuzzy math" going on I'll be the first to admit it.