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Revised Panthers stadium deal ensures only six more years in Charlotte

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The good news is that the Panthers and the City of Charlotte have worked out a revised deal to upgrade the team’s stadium.  The bad news is that, instead of a 15-year commitment in exchange for public funds, the team will agree to stay for only six years.

According to the Associated Press, the new plan reflects a reduced public contribution to $87 million, due to the refusal of the North Carolina legislature to increase the local prepared food and beverage tax, or to provide any state funds.

The deal reportedly contains a clause that makes it, as a practical matter, a 10-year commitment.  The team, however, could leave after six years “without many difficulties.”

A vote by the City Council to approve the deal is expected on Monday.

Owner Jerry Richardson doesn’t plan to move the team.  But the 76-year-old owner who received a heart transplant in 2009 has directed the team to be sold within two years after his passing.  The next owner could decide to relocate the team, and the under the revised deal it could happen sooner than previously believed.

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29 Responses to “Revised Panthers stadium deal ensures only six more years in Charlotte”
  1. ravens513 says: Apr 20, 2013 11:16 AM

    Love to hear all of the issues with Jacksonville and Charlotte support. To think Tagliaboo told Baltimore to build a museum, after the NFL turned down their expansion bid. Bet if they could do it again baltimore an d St. Louis would have expansion teams.

  2. tooz72 says: Apr 20, 2013 11:17 AM

    LA Panthers vs LA Jaguars

  3. MyTeamsAllStink says: Apr 20, 2013 11:20 AM

    Looks like Charlotte is getting a new stadium whether they want it or not.Gotta love how the NFL bullies its fans and the cities it plays in and we keep coming back like a battered wife.

  4. finleye says: Apr 20, 2013 11:23 AM

    as long as the next owner isn’t a fraud

  5. jagsfan1 says: Apr 20, 2013 11:24 AM

    Onl 6?!!!
    Oh NO – what are we all going to DO?

  6. rhinojr says: Apr 20, 2013 11:35 AM

    Yet another reason for me to NOT renew my tickets. Richardson is a jack ass and the city council a bunch of wimps for not demanding more of the panthers.

  7. gbar22 says: Apr 20, 2013 11:39 AM

    I’m tired of constantly reading these articles about nfl teams bullying their respective cities. I used to be one of those fans that understood a joint venture in building a stadium or an arena but the more and more I see teams holding cities hostage when they report they will be making 15 billion in profits in a few years I just can’t support this. It’s vulgar and I say let the teams walk then. No more money for nfl stadiums. Welfare for the rich.

  8. 16to87 says: Apr 20, 2013 11:39 AM

    Heart transplant failure, Richardson now a robot ATM zombie who only takes cash in.

  9. Gordon says: Apr 20, 2013 11:40 AM

    I always laugh about these stories. Where is a team going to move? I’m convinced no team is moving to LA because the NFL them loses their leverage against cities.

    What other city can support a team? They’re not moving to Vegas. Cities just need to stand their ground and call a team’s bluff.

  10. thedownwardspiral says: Apr 20, 2013 11:42 AM

    Nobody cares. It’s the Panthers for crying out loud.

  11. harrisonhits2 says: Apr 20, 2013 11:44 AM

    Another city gets a crap deal from the NFL.

  12. joetoronto says: Apr 20, 2013 11:45 AM

    Teams like the Panthers, Jags, Bills, Bengals, etc will either move to a big city or disappear completely.

    It’s inevitable.

  13. mrpresident2 says: Apr 20, 2013 11:51 AM

    Says the jaguars fan^

  14. gonavybeatarmy says: Apr 20, 2013 12:07 PM

    Any city or state that steals money from the poor taxpayers to build or improve a stadium for a rich guy is corrupt. It’s welfare the rich.

  15. SparkyGump says: Apr 20, 2013 12:28 PM

    If the NFL and it’s owners want to continue their hostage taking, fine, call their bluff and let them move. If enough cities and states stand up to these corporate bullies, they’ll knock it off and work WITH localities rather than trying to milk taxpayers for all their worth.

  16. citizenstrange says: Apr 20, 2013 12:35 PM

    There is just something so crazy wrong about giving $87 million of taxpayer money to a BILLIONAIRE to upgrade a stadium that does not come close to selling out because the team is so bad to keep them there for only 6 more years.

  17. mtheparrothead says: Apr 20, 2013 12:51 PM

    Please provide one piece of evidence referencing a jaguars move. Iron clad contract, owner investing millions in the stadium city, stout attendance, and fan support. Yeah. Thought so.

  18. lennydpocketqb says: Apr 20, 2013 1:19 PM

    Panthers in play for London.

  19. jagsfan1 says: Apr 20, 2013 2:07 PM

    The whole Jags to LA thing is one of the most ridiculous….old…and unfunny/unclever things to get posted.
    1) Yes we stink
    2) 0 Blackouts last year….and we came in roughly 22nd in attendance…with a 2-14 team
    3) so the joke is – Jags stink/can’t fill stadium…so we are moving to a city with an even WORSE track record as an NFL city? Is that the joke?
    4) Say what you want but having not 1 but 2 teams pack up and leave on you is worse than any perceived attendance problems we may have
    4) Yes we stink

  20. i10east says: Apr 20, 2013 2:08 PM

    @ravens513

    The “BAL & STL vs CAR & JAX” expansion derby thing is very old now.Can’t you get over that by now? Then again, I’ll probably be very bitter too if I lived in a crime ridden hellhole like Baltimore. See ya in the next CAR or JAX story my friend.

  21. smalltownqb says: Apr 20, 2013 2:10 PM

    The Panthers consistently rank 6th in attendance. The team is going nowhere. Bluff needs to be called.

  22. scwildcat87 says: Apr 20, 2013 2:24 PM

    The Panthers have had over 100 straight sellouts and is ranked as one of the most lucrative teams by Forbes. So yeah keep up the smack talking because we’re one of the small market teams.

  23. toybkshr says: Apr 20, 2013 3:52 PM

    Or you could be a Jets season ticket holder: spend thousands for a license to spend more thousands, to watch what?

  24. panthers34 says: Apr 20, 2013 4:30 PM

    Panthers are not wanting for ticket sales. 90 % of the stadium is sold out due to PSL’s, the rest sell out close to the season. Training Camp is always packed, and this is with a four year streak of missing the playoffs.

  25. dallascowboysdishingthereal says: Apr 20, 2013 4:46 PM

    I commend the state of NC for making a stand in refusing to pour valuable funds from tax payers into Jerry Richardson’s entrepreneurial venture. If they move the team in 6 years (not likely), then good riddance.

  26. kevingreene160sacknoHOFclub says: Apr 20, 2013 6:28 PM

    Sources say Ryan Kalil has taken out a full page ad in the Charlotte Observer to guarantee the team will stay until at least 2033.

  27. jeremy84848 says: Apr 20, 2013 6:30 PM

    Contrary to what uninformed “big market” fans might be posting here, the Panthers are one of the most lucrative teams in the NFL, and currently have a 106-game sellout streak that stretches back over a decade. When the team’s financials leaked a few weeks ago, analysts noted that Carolina had one of the most stable, financially robust franchises in the league. And yet here’s our reward for the fan support of a small market team — being bullied and threatened with relocation.

    And please, can the franchise stop bragging about how the stadium was built without the use of public money? Does that mean that Richardson footed the bill? No, it was funded through the sale of PSLs — PSLs sold to the very longtime fans being threatened.

  28. kidder95 says: Apr 20, 2013 10:40 PM

    Go ahead and move. Enjoy LA. These idle threats have become boring. Charlotteans needs to focus on real issues.

    NFL/NBA and real life… I’m not sure the coincide.

  29. tigerboye says: Apr 21, 2013 10:24 AM

    some could argue that Carolina hasn’t had a team for years…

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