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.

30 responses to “Revised Panthers stadium deal ensures only six more years in Charlotte

  1. 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. 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.

  3. 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.

  4. 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.

  5. 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.

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

    It’s inevitable.

  7. 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.

  8. 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.

  9. 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.

  10. 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.

  11. 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

  12. @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.

  13. 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.

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

  15. 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.

  16. 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.

  17. 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.

  18. 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.

  19. 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.

  20. You guys keep talking about attendance. A franchise moving has nothing to do with attendance. See Cleveland Browns. The questions becomes overall value and TV deals.

    If the new owner of the Panthers sees a better market to grow in Portland…guess what it will be the Portland Panthers. I know from experience. I live in St. Louis and this city supported a doormat of a franchise after the GSOT years. sellout after sellout watching piss poor football year in and year out was the order of the day in St. Louis.

    Stan Kroneke had the best lease in sports with a $250,000 a year lease! He could find that money in between his coach cushions.

    Only over the last few seasons where it became apparent he was trying to high tail it to LA did attendance drop off. These guys don’t care about the fans. Game day money is pocket change. So if you think becasue you are selling out your stadium every Sunday that a franchise won’t move on you had better think again.

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