The Carolina Panthers are looking to the state of North Carolina for a $60 million bailout. They’re also hoping Charlotte City Council will pass a $144 million tax hike – with the funds earmarked for the struggling franchise.
Why do the Panthers need this infusion of cash? Because owner Jerry Richardson is threatening to leave town unless Bank of America Stadium undergoes a $300 million renovation (which he maintains is necessary if Charlotte is to ever host a Super Bowl).
If you ask us, that’s a pretty expensive proposition for a team that’s produced precisely one winning season in the last seven years …
This website has made no secret of our contempt for the Panthers – and this latest effort on the part of its owner to subsidize stadium renovations with taxpayer funds is yet another reason not to like them.
“Option B” for the Panthers? Speedway Motorsports CEO Bruton Smith, who told a local radio host this week that he would be willing to buy the franchise AND pony up the money for stadium renovations himself.
“I would commit to the city … I would not ask for money,” Smith said, referring to Richardson’s reported pledge to keep the franchise in Charlotte for fifteen years if state and local governments produce a combined $204 million.
If you ask us, Smith’s deal sounds like the one North Carolina taxpayers should support.
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14 comments
Being from Spartanburg, I, like many folks, had stock in Spartan Foods, the business the Richardson had while he was trying to get the Panthers from the NFL. He stated that he was spending the time necessary to make sure that his corporation stayed solvent. Shortly thereafter, they went bankrupt.
Charlotte told George Shinn not to let the door hit him in the ass on the way out, and I hope they tell Richardson the same.
Being from Spartanburg, I, like many folks, had stock in Spartan Foods, the business the Richardson had while he was trying to get the Panthers from the NFL. He stated that he was spending the time necessary to make sure that his corporation stayed solvent. Shortly thereafter, they went bankrupt.
Charlotte told George Shinn not to let the door hit him in the ass on the way out, and I hope they tell Richardson the same.
The Bank of America stadium link seems unneccessary–it’s not even remotely relevant to this article.
That stadium is less than 20 years old. If Richardson “needs” it upgraded, then he frakked up the first time. Just say no, North Carolinians!
The Bank of America stadium link seems unneccessary–it’s not even remotely relevant to this article.
That stadium is less than 20 years old. If Richardson “needs” it upgraded, then he frakked up the first time. Just say no, North Carolinians!
The difference between Bruton Smith and Jerry Richardson is the same difference between a Plate of BBQ Ribs and a bowl of boiled chitlins
Taxpayers in North Carolina should tell Richardson the same thing he demonstrated to the stockholders of Spartan Foods, go fuck yourself
The difference between Bruton Smith and Jerry Richardson is the same difference between a Plate of BBQ Ribs and a bowl of boiled chitlins
Taxpayers in North Carolina should tell Richardson the same thing he demonstrated to the stockholders of Spartan Foods, go fuck yourself
Bruton is full of shit. He’s posturing. He asked for a ton of taxpayer subsidies to keep the speedway in Concord, from the city, county and state.
Bruton is full of shit. He’s posturing. He asked for a ton of taxpayer subsidies to keep the speedway in Concord, from the city, county and state.
I wouldn’t trust a damned thing that came out of Bruton Smith’s mouth. He’s a very old, very rich bully who simply refuses to die.
I wouldn’t trust a damned thing that came out of Bruton Smith’s mouth. He’s a very old, very rich bully who simply refuses to die.
I don’t support the public funding renovations to the stadium, but you are totally mischaracterizing the deal. Jerry Richardson is not in great health and since he fired his sons from the franchise, he has directed the executor of his will to sell the team within two years of his death. The public funding will keep the team in Charlotte rather than allowing a new owner to move the team to LA, which is clamoring for a team at the moment. The reality is that teams have the power to demand public money for upgrades now, even if it doesn’t seem right. As for Smith, I have a feeling that given the chance he too would ask for public money.
I don’t support the public funding renovations to the stadium, but you are totally mischaracterizing the deal. Jerry Richardson is not in great health and since he fired his sons from the franchise, he has directed the executor of his will to sell the team within two years of his death. The public funding will keep the team in Charlotte rather than allowing a new owner to move the team to LA, which is clamoring for a team at the moment. The reality is that teams have the power to demand public money for upgrades now, even if it doesn’t seem right. As for Smith, I have a feeling that given the chance he too would ask for public money.
I laughed when everyone ran out and bought Panther PSLs when they were first sold. “Permanent” Seat Licenses until that SOB Richardson leaves Charlotte for a new city and a new stadium. I’m amazed at how cities whore themselves out to pro teams. it’s a proven fact that stadiums DO NOT encourage revitalization or economic development. Most the jobs are low pay concession/restaurant jobs. The team owners rake in tens of millions and get the suckers, er taxpayers to build their stadiums. Twenty years later and the owner runs to another city and the taxpayers er suckers are still stuck paying for the stadium.
Charlotte is better off telling Richardson to go to hell and move, spend the hundreds of millions fixing up downtown, improving public transportation, parks, roads, and making Charlotte less thuggy (all which will have economic development benefits) than to waste another penny building or renovating a stadium that benefits only one man.
I laughed when everyone ran out and bought Panther PSLs when they were first sold. “Permanent” Seat Licenses until that SOB Richardson leaves Charlotte for a new city and a new stadium. I’m amazed at how cities whore themselves out to pro teams. it’s a proven fact that stadiums DO NOT encourage revitalization or economic development. Most the jobs are low pay concession/restaurant jobs. The team owners rake in tens of millions and get the suckers, er taxpayers to build their stadiums. Twenty years later and the owner runs to another city and the taxpayers er suckers are still stuck paying for the stadium.
Charlotte is better off telling Richardson to go to hell and move, spend the hundreds of millions fixing up downtown, improving public transportation, parks, roads, and making Charlotte less thuggy (all which will have economic development benefits) than to waste another penny building or renovating a stadium that benefits only one man.