Charlotte Council approves plan to give Panthers $125 million

[fieryprophet]

Yeah those people who overcook the $7 hot dogs inside the stadium are very thankful Mr.Richardson brought the Panthers here.

Also, those "office jobs" you speak of are not correlated to the Panthers being here. Only uneducated, and excuse the bluntness, very ignorant people truly believe the economy and city growth rate revolves around a losing NFL franchise. Come on bro.

A friend of mine owned a couple of hotels in Gastonia, and said he made over $20,000 more per home game during the season. It was a selling point when he sold them.

[Guest BlueBoy]

I guess when you have a superstar QB for the next 10+ years and a team on the brink of being a perennial playoff team the government tend to wanna give you poo for free. Makes sense.

[MadHatter]

That's what I was alluding to in my post. I think you might be thinking of another poster in this thread

Reading Comp 101

I said while TV revenue was over 100m alone I wouldn't be surprised if his yearly net income was close to nothing (if anything)

My apologies

[carpanfan96]

http://www.forbes.com/nfl-valuations/

Check forbes for information on the teams income and operating income. 269 mil in income and 11.5 mil in operating income.

The operating income is the team's earnings before interest, taxes, depreciation and amortization.

Reason for this is it cost a whole lot of money to keep the stadium kept up, pay the players, the coaching staff, the front office and everyone else that works for the Panthers.

[carpanfan96]

Yeah those people who overcook the $7 hot dogs inside the stadium are very thankful Mr.Richardson brought the Panthers here.

Also, those "office jobs" you speak of are not correlated to the Panthers being here. Only uneducated, and excuse the bluntness, very ignorant people truly believe the economy and city growth rate revolves around a losing NFL franchise. Come on bro.

Your crazy, right? The team brings in over 160 million in area profits from just 8 games each season in hotel, restaurant and bar receipts. That's not counting the additional money spent by people at other places. All of that is not even counting the other stadium events and so forth. Also there's ton's of employees that work for the Panther's as well. Also you can add to that with the fact that most of the business' in the Stadiums area rely on those 8 games a year to cut a profit. "Hotel's, Bar's, Restaurants and so forth."

Saying the team doesn't push the economy of the city around it is silly. That's a ton of profit that would be missing from that area of town if it weren't for the Panther's.

[Goondal]

as he sips Henesy out of a BoJangles cup.

I should try that

[Awesomeness!!]

JR cashin checks

[SgtJoo]

Economist Victor Matheson, who has studied the economics of sports stadiums and has pushed back on the notion that the facilities drive so much economic growth that they pay for themselves:

“The basic idea is that sports stadiums typically aren’t a good tool for economic development,” said Victor Matheson, an economist at Holy Cross who has studied the economic impact of stadium construction for decades. When cities cite studies (often produced by parties with an interest in building the stadium) touting the impact of such projects, there is a simple rule for determining the actual return on investment, Matheson said: “Take whatever number the sports promoter says, take it and move the decimal one place to the left. Divide it by ten, and that’s a pretty good estimate of the actual economic impact.”

QFT

UBS: “Independent academic research studies consistently conclude that new stadiums and arenas have no measurable effect on the level of real income or employment in the metropolitan areas in which they are located. Feasibility studies for professional sports facilities often fail to account for the substitution effect. Individuals generally maintain a consistent level of entertainment spending so money spent on sporting events typically comes at the expense of cash spent in restaurants, on travel, and at movie theaters.”

The UBS study also notes: “…sports crowd out other types of economic activity. The physical infrastructure of a city, whether it’s a private hotel or a public airport, cannot abruptly increase capacity. As a consequence, sports fans tend to displace other visitors. As a case in point, Robert Baade and Victor Matheson at the College of the Holy Cross have examined the number of visitors to Beijing during the Summer Olympics of 2008. Tourist arrivals for the month of August did not fluctuate year-over-year and the number of visitors to Beijing actually declined on an annual basis. Similar results can be found for Olympic Games held in the US and for such sporting events as the Super Bowl.”

QFT x2

[iampantherman]

yay I get to pay more taxes so a billionaire's private business gains in value

total scam just like PSLs but hey, at least he's not raping the city as much as some of the other NFL team owners are

The Federal Reserve is a scam, but few complain about that, happily accepting slavery en masse. Why should this relatively minor offense be any different?

[Kevin Greene]

So when does Charlotte get a Super Bowl?

[Firefox]

WSOC interviews Charlotte man concerned that the new tax will affect not only rich folks eating out, but also his home furnishings.

[NanceUSMC]

Nothing screams financial wisdom quite like a man with a KFC bucket as a lampshade...

[SCP]

Nothing screams financial wisdom quite like a man with a KFC bucket as a lampshade...

I think I saw this quote etched into the granite walls of a federal building somewhere.

[Vagrant]

Now, officially, the North Carolina panthers. Funded by North Carolina taxpayers. Sweet.