CBJ Article on Tepper (Paywall)

[Mr. Scot]

Not sure if anybody on here has a subscription to this but it looks pretty interesting.

[Ja Rhule]

2 minutes ago, Mr. Scot said:

Not sure if anybody on here has a subscription to this but it looks pretty interesting.

I don’t need to read that article to tell you how it’s playing out.  Not good.

[top dawg]

Somebody needs to give us the goods--a synopsis of course.

[KSpan]

I daresay that if I had a multi-billion solar investment, it wouldn't take me 4 years to figure out what I don't know about it. Without reading the article though I may be responding to a headline, and perhaps article, of dubious objective accuracy.

[LinvilleGorge]

Spoiler alert...

What he doesn't know: how to run an NFL team.

[electro's horse]

thats a business paper, so that's almost certainly a fluff article Tepper paid for. 

[Panthercougar68]

4 minutes ago, electro's horse said:

thats a business paper, so that's almost certainly a fluff article Tepper paid for. 

Not really 

[Panthercougar68]

I’ll give y’all a run down after I get kid down to bed. Read it this morning.

[PNW_PantherMan]

10 minutes ago, LinvilleGorge said:

Spoiler alert...

What he doesn't know: how to run an NFL team.

[electro's horse]

i am still amazed that training facility deal fell apart

like at the very least you complete construction, then bribe enough politicians to get some tax cuts to offset the costs or something. 

[mc52beast]

What Tepper knows about being an NFL owner could be surmised in one word;

NOTHING

[Panthercougar68]

Ahem, CBJ is a good read for business stuff

Anyway, the article breaks up into various points about how Tepper has done/what he has done overall the past 4 years.

-Starts off talking about how the Panthers are now 58% up in value since Tepper bought the team but cites that is the trend across the board with NFL teams at the moment.

-Cites that Panthers were in the green for around 138 million in profit even in covid stricken times

-Cites that Tepper has followed through on promises in the way of Charlotte FC and more stadium events but the pressure is on because the Panthers have not been a consistent winner which was his promise from day 1 (completely fair we are 22-43)

-Craig Depken, a UNCC Econ/Sports business professor cites it as Tepper "learning what he doesn't know"

-Touches on the shake up in the front offices on business side with the departure of Tom Glick (Chelsea) and the undisclosed departure for Nick Kelly. Mark Hart departure has more to the story but team president Coleman stated that there is still no decision if they are going to fill Hart's spot

-Goes into the lack of speaking to the media, Patrick Rishe of Washington University stated that "the turnover and lack of media presence exacerbates other problems"

-The movement with the CEOs and the lack of media makes it seem like no on is in Charge. 

-Rishe says someone needs to not be a yes man and call out Tepper when needed.

-Marc Ganis, an NFL consultant for teams (not the Panthers), basically said the Tepper is actually learning the balance of being open to the media because he was more available to the media than a majority of the owners are across the league when he first started.

-Ganis touches on that it should be the team president speaking to the media and fans more than Tepper.

-It goes into a little background on team president Coleman and how she was a Richardson hire in 2014 and that she is starting to be more available.

Rock Hill

-Calls it the ugly mess it was but Ganis states that the current deal that has to be approved in court and by Rock Hill, York County, and the Contractors as a good first step to fixing it. States the damage will take a while to fix

-CBJ states that Tepper's scorched earth tactics are good for hedge fund managers but not building civic trust 

Bank of America Stadium

-Discusses how Tepper made his intentions clear in 2019 that he wishes to have a new stadium that can hosts events such as national titles and final 4s. Covid has tempered his expectations and has opened his mind to renovating BofA 

-Tepper admits that his roof comment "was said in haste"

-Estimates that it will be around 500 million to renovate like Hard Rock in Miami (Which their new roof protects 90% of seats from the rain) and 1.5-2 billion for a whole new stadium

-Charlotte city leaders have been more than vocal that they will be open to discussion when time arises for funding discussions.

-Councilman Malcolm Graham states that with the failure in Rock Hill and Eastland, negotiations need to be more out in the open. Graham (who has been vocal about this recently) is open to renovation money but wants transparency but also acknowledge that some aspects of negotiations have to be confidential still.

-Ganis goes on to say that now is not the time to try to negotiate a deal for stadium money and that Tepper needs to give it more time before he approaches that aspect but cites that the current clean up plan in Rock Hill is a good start. 

-Article cites that Tepper has invested 70 million in upgrades to the stadium so far out of pocket

-Ganis agrees that Tepper is right to look at possibly overhauling the current stadium.

Entertainment District

-Tepper has stated from the beginning his intention for an entertainment district by the stadium

-Tepper purchased 4.6 acres near Morehead and McNinch in December for 15.5 million and probably has his eyes on the practice fields once a practice facility has been built to make this entertainment district

-City read to step in and help but cites some delay due to new recent Spectrum Center Entertainment district deal which was agreed on years ago.

Current State of Fan

-Coleman states that PSL and ticket sales are ahead of last years pace

-Team did not raise ticket prices for this year and CBJ hints it was a "read the room" move

-Team is looking at new ways to upgrade the stadium

-More long term sponsorships have been made with Lowes, Dewalt, Harris Teeter, and others. Did mention that the Stadium name rights deal was coming up but a BofA rep stated that they could not comment on the current state of negotiations

FIN

So from what I gather it was more of a run down than anything, business side has not done bad overall with the exception of Rock Hill and CEO turnover but as stated earlier by the UNCC guy, these are learning pains

I don't expect stadium talk to start any time soon until there is a winning product on the field. The article cites how Pegula in Buffalo waited till they were a playoff team before hammering NY for tax money which will probably be a tactic here.

"WHAT ABOUT RHULE"

yes it mentions how he's on the hot seat but this is THE BUSINESS JOURNAL NOT ESPN lol

 

 

 

 

Edited September 3, 2022 by Panthercougar68

[Carl Spackler]

13 minutes ago, Panthercougar68 said:

Ahem, CBJ is a good read for business stuff

Anyway, the article breaks up into various points about how Tepper has done/what he has done overall the past 4 years.

-Starts off talking about how the Panthers are now 58% up in value since Tepper bought the team but cites that is the trend across the board with NFL teams at the moment.

-Cites that Panthers were in the green for around 138 million in profit even in covid stricken times

-Cites that Tepper has followed through on promises in the way of Charlotte FC and more stadium events but the pressure is on because the Panthers have not been a consistent winner which was his promise from day 1 (completely fair we are 22-43)

-Craig Depken, a UNCC Econ/Sports business professor cites it as Tepper "learning what he doesn't know"

-Touches on the shake up in the front offices on business side with the departure of Tom Glick (Chelsea) and the undisclosed departure for Nick Kelly. Mark Hart departure has more to the story but team president Coleman stated that there is still no decision if they are going to fill Hart's spot

-Goes into the lack of speaking to the media, Patrick Rishe of Washington University stated that "the turnover and lack of media presence exacerbates other problems"

-The movement with the CEOs and the lack of media makes it seem like no on is in Charge. 

-Rishe says someone needs to not be a yes man and call out Tepper when needed.

-Marc Ganis, an NFL consultant for teams (not the Panthers), basically said the Tepper is actually learning the balance of being open to the media because he was more available to the media than a majority of the owners are across the league when he first started.

-Ganis touches on that it should be the team president speaking to the media and fans more than Tepper.

-It goes into a little background on team president Coleman and how she was a Richardson hire in 2014 and that she is starting to be more available.

Rock Hill

-Calls it the ugly mess it was but Ganis states that the current deal that has to be approved in court and by Rock Hill, York County, and the Contractors as a good first step to fixing it. States the damage will take a while to fix

-CBJ states that Tepper's scorched earth tactics are good for hedge fund managers but not building civic trust 

Bank of America Stadium

-Discusses how Tepper made his intentions clear in 2019 that he wishes to have a new stadium that can hosts events such as national titles and final 4s. Covid has tempered his expectations and has opened his mind to renovating BofA 

-Tepper admits that his roof comment "was said in haste"

-Estimates that it will be around 500 million to renovate like Hard Rock in Miami (Which their new roof protects 90% of seats from the rain) and 1.5-2 billion for a whole new stadium

-Charlotte city leaders have been more than vocal that they will be open to discussion when time arises for funding discussions.

-Councilman Malcolm Graham states that with the failure in Rock Hill and Eastland, negotiations need to be more out in the open. Graham (who has been vocal about this recently) is open to renovation money but wants transparency but also acknowledge that some aspects of negotiations have to be confidential still.

-Ganis goes on to say that now is not the time to try to negotiate a deal for stadium money and that Tepper needs to give it more time before he approaches that aspect but cites that the current clean up plan in Rock Hill is a good start. 

-Article cites that Tepper has invested 70 million in upgrades to the stadium so far out of pocket

-Ganis agrees that Tepper is right to look at possibly overhauling the current stadium.

Entertainment District

-Tepper has stated from the beginning his intention for an entertainment district by the stadium

-Tepper purchased 4.6 acres near Morehead and McNinch in December for 15.5 million and probably has his eyes on the practice fields once a practice facility has been built to make this entertainment district

-City read to step in and help but cites some delay due to new recent Spectrum Center Entertainment district deal which was agreed on years ago.

Current State of Fan

-Coleman states that PSL and ticket sales are ahead of last years pace

-Team did not raise ticket prices for this year and CBJ hints it was a "read the room" move

-Team is looking at new ways to upgrade the stadium

-More long term sponsorships have been made with Lowes, Dewalt, Harris Teeter, and others. Did mention that the Stadium name rights deal was coming up but a BofA rep stated that they could not comment on the current state of negotiations

FIN

So from what I gather it was more of a run down than anything, business side has not done bad overall with the exception of Rock Hill and CEO turnover but as stated earlier by the UNCC guy, these are learning pains

I don't expect stadium talk to start any time soon until there is a winning product on the field. The article cites how Pegula in Buffalo waited till they were a playoff team before hammering NY for tax money which will probably be a tactic here.

"WHAT ABOUT RHULE"

yes it mentions how he's on the hot seat but this is THE BUSINESS JOURNAL NOT ESPN lol

 

 

 

 

Thanks for the recap. Reads like a puff piece with 10% objectivity to water it down a bit. 

[raleigh-panther]

I guess it could be worse. 

it could be the one of these owners:  Miami, DC, Cleveland 

his chase of Watson I found pretty unforgivable…but that’s me 

the other things are either annoying or extremely disappointing