Charlotte Council approves plan to give Panthers $125 million

[Niner National]

The Panthers net worth is over one billion (and should get a bump from this) and make over $100 million in profit yearly...

Yeah....no. The Panthers don't make anything close to a 100 million dollar profit yearly.

MAYBE 15-20 million, MAYBE.

I don't agree with the city being so eager to throw money at the team, but your statement is just wrong. There are only a few teams in the NFL that make that kind of money and we are certainly not one of them.

[GAme]

I like him. He seems like he's all business, pretty much the opposite of Marty Hurney

[Stroupe-a-loop]

http://proplayerinsiders.com/the-nfl-revenue-split-with-players/

[koolkatluke]

would it cost taxpayers $185 million? whose the moron ffs

It also cost people with no kids to pay for other people with kids schooling. Or pay for a street in neighborhood that I will never go to to get fix. You talk about 185 million. How much money has he made for and brought to the city? When you realize that. Then you would understand why you should Stfu.

[R0CKnR0LLA]

lol ok revenue then

i googled and it said the packers made $43 million in 11-12 and that's the only public numbers you're going to find

as I said though the amount really has nothing to do with anything here. bottom line is JR has grown a massive amount of net worth and profits while taxpayers and and PSL owners foot the bill. At least with PSLs you had to be stupid enough to sign up for that voluntarily unlike the increased taxes I will be forced to pay... hooray for that.

[Stroupe-a-loop]

Also, to the people complaining, it is a mathematical certainty, that the Panthers have paid for 185 Million the city invested with the jobs, tourism, and merchandise that were brought here. Not to mention the taxable income of the multiple millionaires the team brought with it over the years. It's as good a use of public funds as those cats are going to make. What's the second best use of public funds lately? The light rail? Which would probably be no good without the stadium.

[CatMan72]

Best money the city has ever spent.

[Panthro]

...

The Green Bay Packers have reported a net income of $17.1 million, according to published figures from their annual report, which was released today.

That’s an $11.9 million increase from the $5.2 million in net income the organization reported in 2010. It primarily came from investments.

Unfortunately, the franchise’s operating profit increased only modestly — from $9.8 million in fiscal year 2010 to $12 million, a $2.2. million increase. The organization — and here’s more lockout rhetoric — cited rising player costs, just as they did when they released last year’s annual report, as the culprit.

Part of the issue was the costs associated with the Packers four postseason road games.

The Packers claim the thin operating profit would have been even thinner if it weren’t for the lockout.

The $2.2 million increase in operating profit – from $9.8 million last year to $12 million this year – was almost entirely due to a $2 million drop in player costs. That drop was mostly a function of the work stoppage, which prevented the team from signing any players to contracts during March, the final month of the fiscal year when the normal free-agent signing period opens.

Had there not been a work stoppage, it’s reasonable to assume the Packers would have signed another player or two in March and the operating profit would have remained stagnant, or even fallen below last year’s, despite a Super Bowl title.

Of course, that’s looking at only one part of the equation. Have the Packers factored in how much the lockout crushed the goodwill of their Super Bowl run and alienated casual fans with disposable income?

I doubt it.

Here are some other highlights of the report.

• Gross revenue rose 9.5 percent to $282.6 million, an all-time high.
  
• Expenses rose 9 percent to $270.6 million.
  
• Player costs and team expenses accounted for 72 percent of total expenses.
  
• National revenue, including the league’s television contract, rose 3.6 percent.
  
• Local or stadium revenue rose 18 percent. A significant portion of this came from an increase in Pro Shop business and an increase in ticket prices.
  

• 
  

[X-Clown]

. At least with PSLs you had to be stupid enough to sign up for that voluntarily unlike the increased taxes I will be forced to pay... hooray for that.

If it's that big of a deal to you, then grill your own cheeseburgers and you won't have that problem.

[koolkatluke]

Also, to the people complaining, it is a mathematical certainty, that the Panthers have paid for 185 Million the city invested with the jobs, tourism, and merchandise that were brought here. Not to mention the taxable income of the multiple millionaires the team brought with it over the years. It's as good a use of public funds as those cats are going to make. What's the second best use of public funds lately? The light rail? Which would probably be no good without the stadium.

Not to mention the 100,000 or so jobs that have been brought to the city because of this organization

[Panthro]

Not to mention the 100,000 or so jobs that have been brought to the city because of this organization

go on...

[teeray]

yayy we get fan misters..and personal bedpans so you never miss a minute of action!!.

Is this really just for a giant flat-screen? Vizios are real cheap at wally world and we could have one hooked to every other seat!!

My Classy upgrades will be copy-written.

Hey, if they invented a seat where I could just piss after drinking 6 beers and not miss any of the game... I would pay a little extra for that. Just no #2s.

I can't wait until we have all purpose loungers like in Wall-E.

[koolkatluke]

And to all the people bitching about the PSL. You should remember that we don't get a team without it.

[R0CKnR0LLA]

Also, to the people complaining, it is a mathematical certainty, that the Panthers have paid for 185 Million the city invested with the jobs, tourism, and merchandise that were brought here. Not to mention the taxable income of the multiple millionaires the team brought with it over the years. It's as good a use of public funds as those cats are going to make. What's the second best use of public funds lately? The light rail? Which would probably be no good without the stadium.

if they were making all that money back in the form of tax revenues already then they wouldn't need a tax increase. either way, why should money be coming out of my pocket to fun a billionaire's private business? I'm not benefiting from the any profit that JRs business make so why should I foot any of the bill?