Carolina Panthers Facilities

[Mgelbach]

Just for the sake of conversation, did Jerry Richardson have to pay taxes on the 2.2 billion dollars that he sold the team for? If so where did that money go, and could that be used to help pay for the new stadium IF the city/state ends up putting up some money?

[InSouthPark]

7 minutes ago, JHart said:

He is trying to get investment from the city/state just like other owners do, I'll give him that. However, stadiums do not generate significant revenues for the cities they occupy and cities end up subsidizing multi-billion dollar franchises. 

Panthers generated $636 Million ANNUAL economic impact in Charlotte from a UofSC 2012 study.   That sounds sizable.   Add NCAA, MLS, and concerts and you are talking a billion+ a year in short term future. 

[kermit]

16 minutes ago, Mgelbach said:

Just for the sake of conversation, did Jerry Richardson have to pay taxes on the 2.2 billion dollars that he sold the team for? If so where did that money go, and could that be used to help pay for the new stadium IF the city/state ends up putting up some money?

Maybe $100 million in capital gains tax to the state (but probably more like $50mill). Nothing paid locally.

The state is not going to peel that cash off of the general fund.

I could get behind the city receiving an equity share in the team in return for a stadium investment. Being ‘Packers light’ would be pretty cool for fans and it would certainly reduce future angst about the team moving.

[JHart]

1 hour ago, InSouthPark said:

Panthers generated $636 Million ANNUAL economic impact in Charlotte from a UofSC 2012 study.   That sounds sizable.   Add NCAA, MLS, and concerts and you are talking a billion+ a year in short term future. 

I've seen that study thrown out by politicians seeking funding for stadium improvements but haven't been able to find the actual study showing that. I would imagine even if that number is correct, it would be total revenues even slightly related to the Panthers at all, with much smaller actual dollars in profits or potential taxes for the city. We would need to compare that to the future value of over $800,000,000 in public funding for a stadium..

[sakami]

Jacksonville is planning to create an entertainment district with luxury housing, a hotel and office building at TIAA Bank Field. I’m trying to imagine how the $50MM would go over here...

https://www.news4jax.com/news/local/jacksonville/deal-reached-on-450-million-development-near-tiaa-bank-field?utm_source=facebook&utm_medium=social&utm_campaign=snd&utm_content=wjxt4

[urbanlover568]

On 8/1/2019 at 1:16 PM, Mgelbach said:

Just for the sake of conversation, did Jerry Richardson have to pay taxes on the 2.2 billion dollars that he sold the team for? If so where did that money go, and could that be used to help pay for the new stadium IF the city/state ends up putting up some money?

I think the stadium went through a major renovation for the DNC. I hate when billion dollar companies take the taxpayer behind the woodshed. There was a certain owner who tried to Bink Tampa out of money and they failed. Rather spend that on homeless or help the horrible public school system or the disadvantaged veterans. 

[CLT>]

The one sad thing about a new stadium would be the dome. Football is actually nice to see outside. If I wanted A/C and amenities I stay home and watch it on the couch. And yes I know they have retractable roofs now, but ones like M-B Stadium in Atlanta are a joke, save the money and don't even build an opening. I get that a SB or Final Four is in the mix, but still, right now, BofA is probably the nicest place in the NFL to sit outside and watch a game.

[Spartan]

On 8/1/2019 at 10:39 AM, carolinaboy said:

As an outsider non-resident I ask this question......Is there real need to replace the stadium? Seems like it's not that old. Is the owner threatening to leave if the City/County don't help with construction costs? Why doesn't he borrow the money and pay it back (like everyone else) or just pay for it in cash?

So... the short answer is no. It's a great stadium in almost every way imaginable.  Its in great condition, its well maintained, the seats are all in good shape, they just added new escalators to make it easier for out of shape Americans to get to the upper deck, they just added massive new digital scoreboards, and they just got $115m in tax breaks for 75-100 jobs to move the HQ to South Carolina, which is purely symbolic. Just file this whole new stadium discussion in the folder for "obscenely rich guys who gotta spend money to outdo other obscenely rich guys." 

Side note: I do agree they need a training facility. No issues with that - but there is a lot of land right next to the stadium that they could buy and expand on rather than move to South Carolina. And I say all of this as a proud SC native who supports the "two states, one team" motto for the Panthers.

[thateasta]

Smart move by Tepper.  Now S.C. has skin in the game.  He will now ask BOTH states to contribute to a new stadium.  Spread the cost.  Again, smart move.

[urbanlover568]

1 hour ago, thateasta said:

Smart move by Tepper.  Now S.C. has skin in the game.  He will now ask BOTH states to contribute to a new stadium.  Spread the cost.  Again, smart move.

Why should people like I have to contribute to this? They can't backup their figures and make enough that they can do it themselves. Why are we giving blank welfare checks to billionaires!?  This is insane! There are dying veterans on the street that fought for this country and we do this!

[eastsider]

1 hour ago, thateasta said:

Smart move by Tepper.  Now S.C. has skin in the game.  He will now ask BOTH states to contribute to a new stadium.  Spread the cost.  Again, smart move.

He can ask all he wants but there is no way a single dime comes from the state of South Carolina for a stadium built in Charlotte.

[atlrvr]

It already has.

[eastsider]

Which stadium has South Carolina contributed to?

[atlrvr]

I guess, I'm saying money is pretty fungible.  S.C. gave $120mm to the Panthers already for some practice facilities and less than 100 jobs.  Those incentives are part of the overall Panther facility financing package.

[thateasta]

Bingo.  All Tepper has to do is make vague references about how the Panthers would love to stay in the region, but may be forced to explore other options without new a new stadium.  S.C. will not want there investment to go belly up.  So, they will find some way to contribute.

[urbanlover568]

5 hours ago, thateasta said:

Bingo.  All Tepper has to do is make vague references about how the Panthers would love to stay in the region, but may be forced to explore other options without new a new stadium.  S.C. will not want there investment to go belly up.  So, they will find some way to contribute.

Basically extorting the taxpayer.

[AuLukey]

Okay. Let’s make this clear, I’m not for a new stadium. I love BoA Stadium. It’s definitely one of my favorites. I’ve sat in just about every section over the last twenty-five years. There isn’t a bad seat in the house. Is it on par with the newest, shiniest, billboardiest? No; at least not in the same way. I once heard Eagles fans complaining before a game about how the admission process is awful. I can’t argue there; there aren’t enough gates for sure. But that’s it.

Now, as far as how Tepper is going about this. He’s doing well to keep away from strong-arming so far. He’s suggesting hotel and rental car taxes get raised to help fund the stadium. That’s doable; Charlotte definitely has much lower rates on those than most peer cities. That would not directly impact residents as a whole. Another source could be raising property taxes within the loop. Would this be enough to pay that off? Nope, bonds would have to be paid on over time.

State level, that money is a drop in the bucket through bonds. There is a tourism fund for these types of things. This won’t take away from other programs. This state spends money on ornate bridges to nowhere and claims the ornamentation as a tourism draw. Would this impact publicly supported museums and such? Absolutely. But when was the last time Charlotte got a state-funded facility like that?

Again, not for it; but let’s wait to see how this all plays out before we turn on Tepper.

[urbanlover568]

1 hour ago, AuLukey said:

Okay. Let’s make this clear, I’m not for a new stadium. I love BoA Stadium. It’s definitely one of my favorites. I’ve sat in just about every section over the last twenty-five years. There isn’t a bad seat in the house. Is it on par with the newest, shiniest, billboardiest? No; at least not in the same way. I once heard Eagles fans complaining before a game about how the admission process is awful. I can’t argue there; there aren’t enough gates for sure. But that’s it.

Now, as far as how Tepper is going about this. He’s doing well to keep away from strong-arming so far. He’s suggesting hotel and rental car taxes get raised to help fund the stadium. That’s doable; Charlotte definitely has much lower rates on those than most peer cities. That would not directly impact residents as a whole. Another source could be raising property taxes within the loop. Would this be enough to pay that off? Nope, bonds would have to be paid on over time.

State level, that money is a drop in the bucket through bonds. There is a tourism fund for these types of things. This won’t take away from other programs. This state spends money on ornate bridges to nowhere and claims the ornamentation as a tourism draw. Would this impact publicly supported museums and such? Absolutely. But when was the last time Charlotte got a state-funded facility like that?

Again, not for it; but let’s wait to see how this all plays out before we turn on Tepper.

I think if he wants it, he can pay for it. The previous panther owner spoke at a event I was at and it was all about him and his wealth. I like the team, but they can pay for it if they want it. I think investing in other companies and veterans and other people that are here ALL the time and not play only 8 days a year is better. 

[cltcane]

2 hours ago, AuLukey said:

Another source could be raising property taxes within the loop.

Over my dead body.

[CLT>]

13 hours ago, AuLukey said:

Okay. Let’s make this clear, I’m not for a new stadium. I love BoA Stadium. It’s definitely one of my favorites. I’ve sat in just about every section over the last twenty-five years. There isn’t a bad seat in the house. Is it on par with the newest, shiniest, billboardiest? No; at least not in the same way. I once heard Eagles fans complaining before a game about how the admission process is awful. I can’t argue there; there aren’t enough gates for sure. But that’s it.

Now, as far as how Tepper is going about this. He’s doing well to keep away from strong-arming so far. He’s suggesting hotel and rental car taxes get raised to help fund the stadium. That’s doable; Charlotte definitely has much lower rates on those than most peer cities. That would not directly impact residents as a whole. Another source could be raising property taxes within the loop. Would this be enough to pay that off? Nope, bonds would have to be paid on over time.

State level, that money is a drop in the bucket through bonds. There is a tourism fund for these types of things. This won’t take away from other programs. This state spends money on ornate bridges to nowhere and claims the ornamentation as a tourism draw. Would this impact publicly supported museums and such? Absolutely. But when was the last time Charlotte got a state-funded facility like that?

Again, not for it; but let’s wait to see how this all plays out before we turn on Tepper.

Look a few years down the road for a big bond package with funding for a new stadium, new Discovery Place, Convention Center Expansion, and whatever projects get on the drawing board between now and then. CoC won't use property taxes for it. Tepper also knows if it's pitched too soon it will be a failure.

[CarolinaDaydreamin]

11 hours ago, cltcane said:

Over my dead body.

That won't happen. Charlotte has already been prepping for the Panthers getting a new stadium. The 87mil they gave already was with the expectation of a new stadium in 10 years or so. I don't think asking and receiving 200-300m from the city is unreasonable. I would hope the state could contribute even more. 

[eastsider]

34 minutes ago, CLT> said:

Look a few years down the road for a big bond package with funding for a new stadium, new Discovery Place, Convention Center Expansion, and whatever projects get on the drawing board between now and then. CoC won't use property taxes for it. Tepper also knows if it's pitched too soon it will be a failure.

Sounds like the 2001 arena bundle 2.0 lol

[King of the Queen City]

The new practice bubble.

View of the skyline from the potential future stadium site with the current stadium in the foreground.  Even if we keep and upgrade the current stadium, this site would make a nice entertainment district.

[DavieNative]

I would love for Tep and the Panthers to stay put. They own the stadium and it's a great OUTDOOR football venue like it was intended to be played. Not like he has a problem selling tickets right now. Fix up memorial for MLS or BoA and keep it rolling. Charlotte has a good thing going with the most wealthy owner in the league. No need to screw the city and the fans and get money and move it to SC. That's a George Shinn and Bruton Smith move. 

[urbanlover568]

5 hours ago, CarolinaDaydreamin said:

That won't happen. Charlotte has already been prepping for the Panthers getting a new stadium. The 87mil they gave already was with the expectation of a new stadium in 10 years or so. I don't think asking and receiving 200-300m from the city is unreasonable. I would hope the state could contribute even more. 

I don't think asking and receiving 200-300m from the taxpayers is unreasonable