David Tepper makes it clear that he won’t be buying his own stadium

Seattle Seahawks v Carolina Panthers
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Panthers owner David Tepper is taking a “when in Rome” approach to his desire to finagle a new coliseum for his football team.

I’m not building a stadium alone, Tepper said Tuesday, via the Associated Press. “The community is going to have to want it. If I’m [paying] a third, the community is [paying] a third and eventually in the future, and it could be a long way out, the PSL owners are [paying] a third, that’s a partnership. And if people don’t want it, they don’t want it. I’m not going to force it on anybody.”

He won’t have to force it on anybody. He’ll just have to move the team to a place where the people want it.

Tepper didn’t say it, because he didn’t have to. “At some point that building will fall down,” Tepper said of the team’s current stadium, which opened in 1996. Before it does, Tepper will build a new one. Whether that’s in Charlotte or elsewhere will depend on whether, and where, he can find a place that lets him pay only 33.3 cents of every dollar.

For now, one thing is clear: If the next stadium is built in Charlotte, it won’t have a roof.

“There is no way in hell I would build a domed stadium in Charlotte, especially after COVID,” Tepper said.

Time will tell whether Tepper’s comment eventually becomes, “There is no way in hell I would build a stadium in Charlotte.” Ultimately, that depends on whether Charlotte and its citizenry will be willing to kick in 66.6 cents.

31 responses to “David Tepper makes it clear that he won’t be buying his own stadium

  1. These guys are so entitled. Living off the working man. Make a billion dollars, presumably skirt the taxes through loopholes, and now that he has his team , he can make us pay for his business expenses. Regardless of political affiliation, this should make us all angry.

  2. What a joke. When he bought the team he said he will not move the team.
    If he wants the taxpayers to fund it, will they get the profits?

  3. Following the greedy owner playbook to a T(epper).

    Guess that rules out moving the team to St. Louis. That’s ok, he can move the Panthers to Jacksonville. I’m sure the fine folks in Florida will build him a stadium after Shad Khan moves the Jaguars to London

  4. Ah, capitalism. Why should the owners pay for something when they can have someone else pay for it and still take the money?

  5. Partnership is when all parties benefit. What does the greater Charlotte and NC community get?

  6. I wish my neighbors would pay 2/3 to construct my business facilities, I’m obviously in the wrong business! Don’t feed me that stuff about it making the community huge gobs of money either. The average Joe has X amount of $$$. You’re just siphoning Joe’s $$$ from other businesses throughout the region to you. Kind of low for a man worth $14.5 billion to be looking for handouts IMO.

  7. What a jerk. The taxpayers owe you nothing you’re a very rich person build it yourself.

  8. so the richest owner in the NFL wants tax payers dollars to fund his private business…just say NO!!!

  9. “Partnership is when all parties benefit. What does the greater Charlotte and NC community get?”
    ____________

    A “study” is no doubt in the works to explain how those part-time, seasonal, minimum-wage jobs at the stadium somehow pump eleventy quatrillion dollars into the local economy.

  10. I live in Charlotte, and what he is saying is that the SC legislature will give him the cash and tax breaks he wants. No one in Charlotte is going to approve cash for this guy. He’s taking his show down I-77.

    Nobody wants to pay to see Sam Darnold anyway!

  11. There’s no conclusive evidence that having an NFL team in your city does much positive, especially financially. They leach HUGE off the city – the govt and the people – and basically don’t give much back other than a weekly entertainment performance for a few months a year. The people of Charlotte shouldn’t be too upset if the Panthers left.

  12. I think it wrong that he asks the tay payers to pay, however I would have my anger pointed at city/state offices if they allow this to happen. Studies have shown that having these stadiums offers no real local economic impact. However, A new facility now can add $30 million annually to a team’s revenues for a few years after the stadium opens. If the city/state are involved in funding – they should be involved in all the revenue that comes with it. Including concerts and all other venues.

  13. zeke2517 says:
    June 9, 2021 at 10:36 am

    Ah, capitalism. Why should the owners pay for something when they can have someone else pay for it and still take the money?

    —————————————————————————

    The government paying for something for a private business is the antithesis of capitalism.

  14. Does the municipality that contributes 1/3 of the cost receive 1/3 of the profits, David?

  15. If I’m the city, I am publicly willing to offer cover 100% of the costs associated with the stadium build/maintenance and I enter in a long term lease agreement with the team (20-30 years) and take that 33% that they’re “willing” to put towards a new stadium for it’s use during Football season. Any income that’s generated by events/use of the stadium before and after goes directly to the city and to the benefit of it’s citizens.

  16. when is 25 years old for a building? if it is falling apart maybe don’t hire the cheap contractors lol unreal

  17. Well, he made his fortune by playing with other people’s money, so why is his wanting to build a stadium with other people’s money a surprise?

  18. boogiewstu says:
    June 9, 2021 at 10:38 am
    Partnership is when all parties benefit. What does the greater Charlotte and NC community get?
    __________

    The citizens of Charlotte and North Carolina get plenty. They get a new, state of the art facility that will attract much more to the community than just a football team. They get the headline concerts and other entertainment that will not come to 25 year old facility. They get the many businesses that will open in proximity to the new stadium, which will bring jobs, tax revenue and many other benefits. They get the prestige of having a facility typical of a first class city, thus attracting upwardly mobile young professionals to live there.

    It is extremely shortsighted to be reflexively opposed to public financing for stadiums and arenas, just as it equally shortsighted to be opposed to taxes for ambulance services, libraries, and schools.

  19. As a resident in the Charlotte area, I say screw him! Pay for it yourself! There is nothing wrong with that stadium, its the team that stinks. Don’t let the door hit you in the butt on your way out! Jerk

  20. Are we as a country REALLY that inept that a Stadium opened in 1996 is now considered “out-of-date” and poorly-built?

  21. boogiewstu says:
    June 9, 2021 at 10:38 am

    Partnership is when all parties benefit. What does the greater Charlotte and NC community get?
    ===================================================================================

    Well, how about an economic impact of $650 million per year? How about jobs – team employees, stadium employees, hotels, bars, restaurants? Is that enough? I promise you if they left, it would hurt. If a new stadium costs $1.5 billion, and he wants 1/3 ($500 million) from state/local government, it would be difficult to explain to the people who’d lose their jobs why you wouldn’t consider it.

  22. Not everyone can be Robert Kraft. Other than some public funds for infrastructure upgrades around it, Kraft built his stadium/complex on his own dime and did so without fleecing fans with PSLs. This should be the model Tepper and other owners follow.

  23. This is the same con Kroenke tried (well, not really) in St. Louis. The city built a new stadium for the team that opened in 1995, and were willing to build another one to keep the team. They weren’t even done paying off the first one – and probably still aren’t. I guess the only positive in that situation is that Kroenke paid for his new stadium all by himself.

    As @joshgordonsbong says, why is a new stadium needed? I can maybe understand some kind of renovation after 25 years, but why does it need to be discarded? Talk about waste!

    And how about this crazy thought: why can’t he finance it and pay for it himself? This kind of strong-arming by super-wealthy owners is just ugly, greedy manipulation. As many have mentioned – he wants to pay 1/3, but HE will get ALL of the benefits of a new stadium. And his first quote about this topic is a veiled threat to move the team?

    What a jerk.

  24. Name another industry where the taxpayers have to foot the bill for a company’s buildings. A skyscraper is built by developers and used everyday with high salaried workers, bringing on lots of tax revenue. A stadium is used a few times a year and the vast majority of workers are minimum wage and part time.

  25. granadafans says:
    June 9, 2021 at 12:00 pm
    Name another industry where the taxpayers have to foot the bill for a company’s buildings. A skyscraper is built by developers and used everyday with high salaried workers, bringing on lots of tax revenue. A stadium is used a few times a year and the vast majority of workers are minimum wage and part time.
    ___________

    Multiple businesses and industries are frequently granted tax incentives to open/build in a new area or to expand existing facilities. Cities and states bid against each other all of the time; waiving property, sales and other taxes trying to attract businesses. That skyscraper you mentioned most likely had any property taxes waived for 25-50 years.

    A state of the art stadium is used much more frequently than a few times a year. On the other hand, an antiquated 25 year stadium that lacks any modern amenities is probably not used very much.

  26. St Louis still isn’t done paying for that new Rams stadium they built in the 90s. The idea that stadiums “pay for themselves” is nonsense spread by team owners.

  27. Fascinating how most everyone here is claiming there’s no economic benefit from having a stadium or a football team in town.
    Meanwhile, down in Atlanta, everyone is crying about how much business, money & jobs will be lost because MLB is taking one (1) game away (All-Star Game).

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