Potential $1.2B Panthers stadium renovation discussion

[Lame Duck]

City discussed $1.2 billion framework for Panthers stadium renovations 

https://www.wsoctv.com/news/local/city-discussed-12-billion-framework-panthers-stadium-renovations/GPQZECP3AZAWHBQSMPQ5CZTEA4/

The Charlotte City Council discussed the future of Bank of America Stadium in a closed session on January 31. 

>>At 6 p.m., Channel 9′s Joe Bruno will break down how the city and the Panthers will arrange funding for the stadium.

In that meeting, city leaders discussed a potential framework of a $1.2 billion project with $600 million in public funds. The discussion was meant to brief Charlotte City Council on what a potential deal could look like.

Edited May 4, 2023 by Lame Duck

[Jon Snow]

If this goes down I sure hope it ends better than the Rock Hill fiasco. 

[rebelrouser]

Billionaire bilks city out of 600 million right before major recession; still refuses to install real grass.  

[Stumpy]

7 minutes ago, rebelrouser said:

Billionaire bilks city out of 600 million right before major recession; still refuses to install real grass.  

Counteroffer: Tepper gets dick and the city spends that money to build out the light rail, since we know they have that money to spend now.

Also, use whatever ridiculous multidecade accounting plan they tried to sell you on as the framework to lock in that multibillion dollar tax value until 2073!

Edited May 4, 2023 by Stumpy

[WUnderhill]

But no tax cuts!

[Purrnicious]

As long as my PSL's don't become worthless because of a new stadium and they don't put a dome on the current stadium I don't care. 

[LinvilleGorge]

Economic studies have shown that public spending on stadium projects is a terrible "investments" and essentially amounts to a handout to billionaires. Something feels extremely grifty about the numbers involved too. Jerryworld cost $1.4B to build in '04 and was considered wildly extravagant at the time. The Falcons' new stadium cost $1.6B. You're telling me you need $1.2B just to RENOVATE our current stadium? I call BULLSHIT.

[LinvilleGorge]

2 minutes ago, Purrnicious said:

As long as my PSL's don't become worthless because of a new stadium and they don't put a dome on the current stadium I don't care. 

I don't see how they're gonna spend the equivalent of damn near top dollar for a modern new stadium and NOT put a dome over BOA. There's gonna be serious fat involved in the project to line the appropriate pockets, but damn... you're still going to have to do some MAJOR work to justify 10 figures of spending on paper.

[Pantherzilla91]

Great news! I’m fine with my tax dollars going to this rather than some social crap. Ties the Panthers to the city!

[Jon Snow]

4 minutes ago, LinvilleGorge said:

Economic studies have shown that public spending on stadium projects is a terrible "investments" and essentially amounts to a handout to billionaires. Something feels extremely grifty about the numbers involved too. Jerryworld cost $1.4B to build in '04 and was considered wildly extravagant at the time. The Falcons' new stadium cost $1.6B. You're telling me you need $1.2B just to RENOVATE our current stadium? I call BULLSHIT.

Have you seen the cost of materials and labor in the construction industry lately?! A new stadium like Jerry World would cost over $3B today.  I would have to see the details of this "renovation" being proposed before I have an educated opinion on this venture.  

[kungfoodude]

10 minutes ago, LinvilleGorge said:

Economic studies have shown that public spending on stadium projects is a terrible "investments" and essentially amounts to a handout to billionaires. Something feels extremely grifty about the numbers involved too. Jerryworld cost $1.4B to build in '04 and was considered wildly extravagant at the time. The Falcons' new stadium cost $1.6B. You're telling me you need $1.2B just to RENOVATE our current stadium? I call BULLSHIT.

[jayboogieman]

The city would be much better off to invest that money in infrastructure, mental health help, the homeless, education, or lots of other things than giving it to Tepper, especially just for a renovation. If he threatens to move the team over it, tell him bye.

Edited May 4, 2023 by jayboogieman

[Tbe]

1 minute ago, Pantherzilla91 said:

Great news! I’m fine with my tax dollars going to this rather than some social crap. Ties the Panthers to the city!

CMS schools are terrible. Let’s give them 600 mill instead.

[TheSpecialJuan]

Do it or Tepper walks and takes the team with him