Bank of America Stadium Renovation

[kermit]

Didn't see an appropriate topic, apologies if I missed it.

Sounds like a long shot to me but it appears that the possibility of state money for the Bank of America stadium refurbishment project.

http://www.bizjourna...-11-08&page=all

It appears that Thom Tillis thinks its a good idea....

earlier in the week CBJ wrote about getting funding from Gaston and Cabarrus counties for the project as well

http://www.bizjourna...r-carolina.html

$100 million (the number that keeps comming up) is going to be really expensive..... (the price of a streetcar extension)

[Spartan]

I think this is a fascinating topic. I support using public funds for sporting arenas (like the BB&T Ballpark and TWC Arena) because the presence of pro sports is a revenue generator, supporting businesses etc. However, I'm not sure how I feel about using public funds for upgrades. Obviously it's important that the Panthers stay in Charlotte, but it seems like the NFL is not short on money. Seems like Mr Richardson could finance the upgrades on his own.

[tozmervo]

but those psl owners need escalators. it's in our economic best interest.

[HopHead]

I actually have no problem with using some public money to help finance the stadium upgrades. This is the NFL. It's far and away America's most popular sports league and generates tons of revenue and exposure for the city and Carolinas. Also keep in mind that a Super Bowl bid is on the minds of the city and franchise. They will need to make these kinds of upgrades (bigger and better scoreboard, escalators, etc) to have any shot, in addition to addressing the hotel rooms. Yes, $100M or so is a lot of money. But it's chump change compared to what it would take to build a new stadium and it's not quite as big as the renovation Kansas City did to their stadium a few years ago. I think it was to the tune of $200+ million and was completely financed by the public. I agree that I would rather see it privately financed, but Richardson knows full well that just about everything that's been built is done with public funds. So why wouldn't he follow suite and look to get some public assistance? If Charlotte and the state doesn't, someone else will.

[15895]

If they use State funds, They need to be really discreet about it. One of the first things under a Mecklenburg ran Raleigh refurbishing the Panthers Stadium would probably make the rest of the state crap themselves.

[southslider]

Is either party or any politician ever fiscally responsible? Populist wings on both sides should unite to fight this corporate welfare.

[carolinagarnet]

Charlotte can't really take a hard line on this since they just heavily subsidized the Knights Stadium and built the Time Warner Arena. While spending local money on upgrades feels improper, it would be worth it if we could draw a Super Bowl and other larger events to the improved stadium.

[ah59396]

The unfortunate fact is if there is any sport we should be subsidizing, regardless of whether the team has the money or not, it would have to be the NFL. The Panthers are our bread and butter.

[Niner National]

If they use State funds, They need to be really discreet about it. One of the first things under a Mecklenburg ran Raleigh refurbishing the Panthers Stadium would probably make the rest of the state crap themselves.

Wasn't the RBC center built with state funds?

[kermit]

^ I think they rationalized that by having NCSU basketball as a tenant.

Perhaps the loophole here is to have the 49ers play in BofA (<-- a joke)

[mad_park]

The Florida Marlins renamed themselves the Miami Marlins as a condition of getting local $$$ for a new stadium - any chance Charlotte will request similar as part of providing any local funds?

[HopHead]

^I suppose they could do what the Marlins did, but to me that makes no sense. The Panthers has always been billed as "Carolina's" team. No need to change that.

[Niner National]

^ I think they rationalized that by having NCSU basketball as a tenant.

Perhaps the loophole here is to have the 49ers play in BofA (<-- a joke)

That cannot have been the reason because state funding is not allowed to be spent on college athletics programs.

It can be loaned as a bond, but it cannot outright pay for it.

[southslider]

The unfortunate fact is if there is any sport we should be subsidizing, regardless of whether the team has the money or not, it would have to be the NFL. The Panthers are our bread and butter.

NFL plays the fewest games of any major league sport. Fewer games means less economic impact.

[Guest]

NFL plays the fewest games of any major league sport. Fewer games means less economic impact.

The Stadium holds 4 times as many people as NBA or Hockey, and people are more likely to spend money at bars, restaurants, grocery stores, and convenience stores than other sports just celebrating the culture of Professional Football. Also it is wildly popular and garners ratings unlike any other sport, and sells merchandise unlike any other sport.. There is a reason that 80% of the most valuable sports franchises are NFL.

73,000 average attendance for 8 games is 584,000 people.

15,000 average for bobcats for 41 games is 615,000 people.

Not too big of a difference if you ask me.

[Guest]

The Stadium holds 4 times as many people as NBA or Hockey, and people are more likely to spend money at bars, restaurants, grocery stores, and convenience stores than other sports just celebrating the culture of Professional Football. Also it is wildly popular and garners ratings unlike any other sport, and sells merchandise unlike any other sport.. There is a reason that 80% of the most valuable sports franchises are NFL.

73,000 average attendance for 8 games is 584,000 people.

15,000 average for bobcats for 41 games is 615,000 people.

Not too big of a difference if you ask me.

PS. Average cost of ticket to panthers is 63.00 vs. 33 for bobcats, easily surpassing in gross ticket revenue.

Edit: also the bobcats are worth 270 million vs. the panthers 1.07 billion!

[southslider]

^If they have that many ticket sales and estimated worth, then why do they need a taxpayer handout? Sounds like a losing proposition, just like the team.

[ah59396]

^If they have that many ticket sales and estimated worth, then why do they need a taxpayer handout? Sounds like a losing proposition, just like the team.

You're obviously missing the point. We aren't discussing the merits of if the team can afford the refurbish, it's likely they can. Nor are we discussing the teams record, which plays zero factor in this discussion. If you honestly believe the Panthers don't have a dramatic impact on our economy, from ticket sales, to parking, to hotels, to restaurants, to visibility for the city, to merchandise and their sales in local stores, you obviously aren't paying attention.

The point is, IF the panthers ask for city money, and if the city gives money to sports teams based upon the prior premise of "economic impact" (see bobcats and knights) then the panthers are BY FAR the most deserving. Without question.

[Missmylab4]

I really wish the city would pursue a Super Bowl. If Indy can house one there is no reason to think by 2017 maybe a year or two later we couldn't. I hope the panthers dome the renovation so weather can't play a factor in our selection. Perhaps some more retail at the base of the stadium would be nice as well. To liven up the dead zone the stadium creates.

[mad_park]

^I suppose they could do what the Marlins did, but to me that makes no sense. The Panthers has always been billed as "Carolina's" team. No need to change that.

I think it makes sense from the City of Charlotte's perspective if we are the party paying for the bulk of the upgrades. How much is South Carolina being asked to kick in? Also, by the time these upgrades are complete, the franchise will have been in the "Carolinas" for 20 years...if they haven't converted old Falcons, Cowboys, and Redskins fans by that point then they likely never will. Being the "Charlotte Panthers" will also help with the name recognition that the city leaders desire (eg: no more "Charlotte, NC").

[uptowner]

Changing the name to "The Charlotte Panthers" would be an enormous score for Charlotte. There is tremendous undeniable value to Charlotte. Consider "naming rights" value for a stadium alone. Now compare that to naming rights for an NFL franchise. The real value to the city could far exceed 100 million. This could be a bargain and a "no brainer" for the city.

[ah59396]

Changing the name to "The Charlotte Panthers" would be an enormous score for Charlotte. There is tremendous undeniable value to Charlotte. Consider "naming rights" value for a stadium alone. Now compare that to naming rights for an NFL franchise. The real value to the city could far exceed 100 million. This could be a bargain and a "no brainer" for the city.

I hope they never change to the Charlotte Panthers. In my opinion it makes the franchise appear unstable and desperate. The Panthers are supposed to be a team for everyone in "The Carolina's" to root for. It's why they have training camp in Spartanburg and not Concord. Also, the original Panther head logo is shaped like the states of NC and SC put together.

Carolina Panthers is becoming an established name in the NFL now, no reason to muck it up.

[Urbanity]

^ I disagree wholeheartedly that it would make the franchise appear either unstable or desperate. Simply would seem either a business move and/or that Charlotte has arrived as its own namesake.

That said - I prefer it as the Carolina Panthers myself. I've always like it and the symbol for the city/team at the border of both Carolinas.

[DEnd]

^ I disagree wholeheartedly that it would make the franchise appear either unstable or desperate. Simply would seem either a business move and/or that Charlotte has arrived as its own namesake.

That said - I prefer it as the Carolina Panthers myself. I've always like it and the symbol for the city/team at the border of both Carolinas.

The Panthers don't need any help in appearing desperate.

It needs to stay the Carolina Panthers.

[49er]

I would hate to see a name change. We finally have a generation of kids that grew up rooting for the Carolina Panthers. Name changes like this have a way of screwing up team loyalty. On the flipside, I've always supported UNCC changing to University of Charlotte due to the confusion with UNC.

If the stadium refurb makes us a better team, I'm all for it! I doesn't seem to have helped the cowgirls though.