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Charlotte Group Eyeing Panthers Buy - This Thread is Informative


Jimmy

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Speaking of the state...

North Carolina will work to keep Panthers in Charlotte, governor says

Quote

 

In a visit to Charlotte Friday, Gov. Roy Cooper called the Panthers “critical to the Charlotte area and North Carolina’s economy.” Cooper also said he has begun consulting local civic and business leaders about ways the state can help keep the Panthers here.

“I want them to stay here. I don’t see any reason that a change of ownership would cause either the Panthers or the NFL to want this great team to move,” Cooper said at Cotswold Elementary, which he was visiting to discuss class sizes and teacher pay.

Panthers owner Jerry Richardson, who brought the NFL to the Carolinas in the early 1990s, last month announced that he would be selling the team at the end of the 2017 season.

The announcement of the team’s sale followed a Sports Illustrated report that alleges years of workplace misconduct by Richardson. The NFL is conducting an investigation of the alleged misconduct.

“I cannot imagine any owner that would buy this team who would want to move it. Obviously we want them to be here, and I’m open to options that local leaders and business leaders would have as we go forward,” Cooper said.

New owners could opt to move the team out of Charlotte, renovate Bank of America Stadium or build a new, bigger field if they stay, experts say. The owners could request taxpayer money from the state, county and city for renovations or new construction, as the Panthers have done in the past.

 

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I think people keep forgetting about the 500-700 million dollar relocation fee.  So any owner that has any plan to buy and possibly move the team will have to pony up at least 3 billion dollars.  That's a lot of expense to recoup. 

Look at all these new mega-domes.  They all have huge entertainment centers to help bring in enough revenue to justify the cost of the new stadium.  And most are also built by teams with long-term owners that have already recouped most, if not all, of their initial investment in the team.  So, their only real added expense is the stadium. 

And while there MAY be some city out there willing to build a new stadium (I don't think there are any truly viable cities that are willing to put up 500 million or more to build one, but for arguments sake, say there is), they will almost certainly not be willing to build an entertainment complex as well.  That would be too much of a tax burden on the residents.  So, that would put the burden on new owners who want to buy the team and build a financially viable stadium and complex at no less than 4 billion or more.

Same goes for relocation.  It's one thing to pay upwards of 700 million dollars to move the team when the team has already paid for itself, it's a completely different thing to spend that on top of the cost of buying a franchise.  The financial implications are just too great to justify moving the team.  

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5 minutes ago, Mr. Scot said:

Nobody's gonna riot over this.

Many thousands of people have many thousands of dollars invested in PSLs.  Many millions more live in North and South Carolina.  NO ONE except Felix the jackass and maybe some spineless politicians getting kickbacks want their money wasted, especially on THIS, at either the local or state levels.  The outrage is real, already, and would magnify once more became aware of the facts.

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4 minutes ago, Mr. Scot said:

Freaking fool-looky here I’ll give away the people’s money to Felix the jackass unnecessarily.  Fortunately he is only the governor, not emperor.  The state legislature in Raleigh is not giving Felix the jackass in Charlotte his absurd demands.

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Just now, Nails said:

And if not, where is the Garden of Eden overflowing with said funds that awaits in 2022 if Felix the jackass and 24 owners so chose?

Head in the sand-that’s funny.

NFL when asked about BOA stadium, said that's a discussion for later. Sale of the team comes first. So the NFL wants to upgrade it majority or replace it. NFL also wants the team to stay but wouldn't rule out moving the team over a stadium issue. I'm not saying Felix, I'm saying anyone who buys the team will want a new stadium because that's what the NFL wants. 

 

it makes too much sense as owner to not want and demand a new stadium. Team is worth 2.1b, sale price will likely be higher. So you're already out of money as the new owner. You're going to want an immediate return on that investment... A new stadium or massive renovations to BOA is going to happen and Charlotte will pay or the Panthers will be gone in 2020. 

St. Louis offered to build a new stadium and approved funding for it, same in Oakland. Toronto and London are international options. 

 San Antonio with a 70k seat dome already owned by the city and willing to spend money to upgrade it. 

 

San Diego just passed a law on voting measures so they can revote to get public funding for a new stadium. 

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4 minutes ago, Nails said:

Many thousands of people have many thousands of dollars invested in PSLs.  Many millions more live in North and South Carolina.  NO ONE except Felix the jackass and maybe some spineless politicians getting kickbacks want their money wasted, especially on THIS, at either the local or state levels.  The outrage is real, already, and would magnify once more became aware of the facts.

Nobody's gonna riot over this.  The whole notion is silly.

 

6 minutes ago, Woodie said:

I think people keep forgetting about the 500-700 million dollar relocation fee.  So any owner that has any plan to buy and possibly move the team will have to pony up at least 3 billion dollars.  That's a lot of expense to recoup. 

Look at all these new mega-domes.  They all have huge entertainment centers to help bring in enough revenue to justify the cost of the new stadium.  And most are also built by teams with long-term owners that have already recouped most, if not all, of their initial investment in the team.  So, their only real added expense is the stadium. 

And while there MAY be some city out there willing to build a new stadium (I don't think there are any truly viable cities that are willing to put up 500 million or more to build one, but for arguments sake, say there is), they will almost certainly not be willing to build an entertainment complex as well.  That would be too much of a tax burden on the residents.  So, that would put the burden on new owners who want to buy the team and build a financially viable stadium and complex at no less than 4 billion or more.

Same goes for relocation.  It's one thing to pay upwards of 700 million dollars to move the team when the team has already paid for itself, it's a completely different thing to spend that on top of the cost of buying a franchise.  The financial implications are just too great to justify moving the team.  

  If it's relocation out of market, yeah.  Moving down the road a piece is okay.

Ultimately I'm pretty sure Charlotte is gonna bend over and give the Panthers anything they ask, but a stadium just across the border where taxes and operating costs are lower would certainly be intriguing.

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2 minutes ago, carpanfan96 said:

NFL when asked about BOA stadium, said that's a discussion for later. Sale of the team comes first. So the NFL wants to upgrade it majority or replace it. NFL also wants the team to stay but wouldn't rule out moving the team over a stadium issue. I'm not saying Felix, I'm saying anyone who buys the team will want a new stadium because that's what the NFL wants.

it makes too much sense as owner to not want and demand a new stadium. Team is worth 2.1b, sale price will likely be higher. So you're already out of money as the new owner. You're going to want an immediate return on that investment... A new stadium or massive renovations to BOA is going to happen and Charlotte will pay or the Panthers will be gone in 2020. 

St. Louis offered to build a new stadium and approved funding for it, same in Oakland. Toronto and London are international options. 

 San Antonio with a 70k seat dome already owned by the city and willing to spend money to upgrade it.

San Diego just passed a law on voting measures so they can revote to get public funding for a new stadium. 

Agree in general but there's no way in hell Jerry Jones and Bob McNair allow another team in Texas.

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26 minutes ago, Nails said:

The Superdome was over 3 decades old when the worst natural disaster in US History struck nearly 13 years ago and devastated New Orleans and the dome.  Yet there we’ll be tomorrow afternoon.

BOA should be the home of the Panthers for many years to come.

The saints were also about to be bought and moved to Toronto before Katrina. They became a rally point for the state, so the state agreed to renovate the stadium and spent 41m public. Feema spent 115m. 

There was discussions and even an offer of over 1b that was declined but the two sides were still talking about the sale and relocation of the saints. 

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3 minutes ago, Mr. Scot said:

Agree in general but there's no way in hell Jerry Jones and Bob McNair allow another team in Texas.

That's the only thing stopping it, plenty of people live around or near the city. Dome already built and the city doesn't mind spending to upgrade it for a NFL team. Hell no one in Texas cares about public funding because they get it. Hell the Cowboys got 300m of public funding for a practice facility in Frisco. lol

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4 minutes ago, carpanfan96 said:

The saints were also about to be bought and moved to Toronto before Katrina. They became a rally point for the state, so the state agreed to renovate the stadium and spent 41m public. Feema spent 115m. 

There was discussions and even an offer of over 1b that was declined but the two sides were still talking about the sale and relocation of the saints. 

Saints were talking San Antonio, weren't they?

The Bills are the team people always talk about moving to Toronto/

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1 minute ago, Mr. Scot said:

Nobody's gonna riot over this.  The whole notion is silly.

 

  If it's relocation out of market, yeah.  Moving down the road a piece is okay.

Ultimately I'm pretty sure Charlotte is gonna bend over and give the Panthers anything they ask, but a stadium just across the border where taxes and operating costs are lower would certainly be intriguing.

I don't buy the whole moving within the market idea at all.  I truly don't believe there is much validity in it.  Don't doubt there are investors that may want to do that, I just don't think it has any legs.

Regardless, that would be a whole different conversation.  And there would be some very real issues with the move that go beyond finances.  But if a new owner has the funds and is willing to pony up that much, more power to him.    

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4 minutes ago, Mr. Scot said:

Saints were talking San Antonio, weren't they?

The Bills are the team people always talk about moving to Toronto/

Nope, this was pre Katrina in 2001 but Tom Benson was in talks with Paul Godfrey on the sale and relocation of the Saints. Talk also about them moving to San Antonio but it never got as serious as them moving to Toronto in 2001.

The Bills have been the most recent team linked to Toronto though. 

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