CAUTION Urges Restraint for Public Funding of Panthers
Bank of America Stadium
Common Americans United to Inspire OUR Nation (CAUTION) announced today that the organization is actively encouraging its members and fellow citizens to proactively contact local and state elected officials to voice opposition to reports that public subsidies may be made available to the Carolina Panthers NFL Football franchise.
CAUTION President Dennis Peterson voiced his position on the possibility, “It is a matter of principle that government restrict it’s initiatives solely to the most limited infrastructure requirements of civil society. Providing the necessities while keeping taxes and regulations to a minimum is the correct recipe for economic growth. Providing particular benefits to one organization at the expense of another is reprehensible and beyond the scope of responsible government.”
The Carolina Panthers franchise was purchased by Mr. Jerry Richardson and his ownership group for $206 million in 1993. Today the Panthers have increased in value to $1.05 billion and are ranked by Forbes as the 13th most valuable sports franchise in America.
Despite the financial success of the Panthers, a February article in the Charlotte Business Journal quoted James Mitchell, Chairman of the Charlotte City Council’s economic development committee, discussing the possibility of public support for the Panthers, “We just know there’s a need, there’s a role for the city. They [the Panthers] would like the city to participate in some type of new development. We just don’t know what that is.”
In a November 11, 2012 posting on ESPN.com, an unnamed source told reporter Pat Yasninkas that the only scenario in which Richardson would listen to an offer to move the Panthers to another city would be if Charlotte balked at helping him with stadium renovations.
CAUTION’S Peterson continued, “There is no doubt that movement is underway to construct a specific ask for public financing. We don’t know when or to what extent that ask will be, but we do know that Mr. Richardson has engaged a sports architect, Populous, and two other firms to develop a 10-year master stadium renovation plan due by the end of the current season. It is likely that when the plan is presented, it will include a request for public money, so our timing here at making the public aware is critical.”
He concluded, “Our economy is still hurting, families are struggling to make ends meet. Providing the people’s money to a profitable billion dollar sports empire is absolutely wrong.”
The following link contains the contact information for Charlotte City Council Members. Click HERE.
As the State may become involved, contacting the Speaker of the House Thom Tillis and Senator Phil Berger, President Pro Tempore of the NC Senate, is also encouraged.
NC House of Representatives District 98 Thom Tillis REP PO Box 32186 Charlotte, NC 28232 704-248-2980 Thom.Tillis@ncleg.net
NC Senate District 26 Phil Berger P.O. Box 1309 Eden, NC 27289-1309 (919) 733-5708 Phil.Berger@ncleg.net
We must all tithe to the god of sports.
I’m one of the biggest Panthers fans I know…I’ve only not seen two games since 1996 and my collection of memorabilia and random Panthers related “stuff” I bet surpasses others. I’ve voluntarily contributed to this teams well being. The idea of being forced to subsidize them through government action is just insulting to me. Even if it does come down to the infamous “hotel motel tax”, it’s still tax money and government interference in the free market. I abhor it. This must be stopped!!
(Yes, I realize your post was in jest…I hope!) 🙂
Thanks for the “likes” everyone. Be sure to follow up with action! Contact the Charlotte City Council and state leadership and report back any responses that you receive!
the owner is in california- has been since wed night after departing the owners meeting in dallas on wednesday, he flew to LA wed night, and on sunday morning flew to SAN for the game and returned to LA after the win- my sources tell me ownership remains in CA, as of this morning- this is interesting because 1) the owner does not travel that much 2) the NFL really want to have a team in the stadium being built next to the Staples Center (in time for the SB 50 in 2016) 3) owner and partners could avoid a huge tax hit re capital gains if they sell before the end of the year 4) the number I hear to buy the team is $1,200,000,000- I’d say go to the Raider game and see ’em here while you can- IT IS WHAT IT IS– full page ads insulting ownership don’t help folks on the PSL (permanent sucker list) roster
Marcus Allen was hinting yesterday that something was up in SoCal. I thought for sure it would be the Ray-Dahs moving back and am still convinced now that Mr. Davis is dead they will be sold and move back to L.A. .
i think the raiders are stuck in Oak for a while ’cause of their lease? the panthers are the only franchise that could move at any time, to any city- and there is nothing anyone can do- If they move it will be fun to see the uptown folks cry- But I pity PSL owners,
If the city uses tax money that it collects from hotel/motel and restaurants, what would be the problem? That is what those taxes are meant to cover, things like the arenas, convention center, etc. Why not pitch in on the stadium with some of that tax money if it makes sure the Panthers stay in Charlotte. You may not go to games but that stadium, team, and Jerry Richardson bring a lot of income to businesses in the city as well as the same restaurants where the tax could be added.
so we have to pay tax to a billionare to keep the team here? the hotel motel tax and food tax already go to “attractions”- so you’d have to raise the restaurant food tax to pay for it. “why not pitch in?” because the team should pay for their own facility. Why should an elderly couple eating out once a week, have their tab jacked up, for the benefit of a team that is worth close to a billion dollars?
If jerry has enough dough to overpay three over the hill running backs, he can cough up money for a stadium.
Roger,
There are actually exhaustive studies showing that professional sports doesn’t actually bring any net gain economically to a community. Entertainment money will be spent on one thing or another. If not Panthers tickets then movies, bowling, etc. So, as a Panthers fan who has been to numerous games, I would be sad for the team to leave, but it wouldn’t hurt our economy.
If a group of restaurants and hotels want to voluntarily pool their resources and fund the costs of other businesses (what swell guys!), that would be totally their prerogative. When government gets involved, and forces a tax on even those businesses that don’t want to participate, taxes the people who may like to eat out but don’t give a hoot about football (or nascar, etc), and obviously there is a bureaucracy that has to handle everything which costs money, this is just a bad plan. (And a run on sentence…lol)
Additionally, it distorts the market. Because of such a tax, the perceived cost of going to an event sponsored by it is lower. That puts those projects at an unfair advantage to the other entertainment options which receive no such subsidy.
I’d much rather pay more for my ticket (assuming the money was needed by Richardson to upgrade the stadium, which I don’t think really is) than allow more tax money to be used…whether it be hotel motel tax, property tax rebates, whatever. Let the users pay and let the free market dictate costs. Don’t subsidize a guy for his expenses and then let him reap all the profit from it. That’s just wrong.
Thanks for responding with a logical and thoughtful comment. I disagree, but enjoy the discussion.
If the team has been sold this week, look for an announcement AFTER the Raider game- Letting the cat out of the bag (my bad) b4 the OAK game would make things a wee bit awkward for ownership during the game. (who I am told got back from LA late yesterday afternoon) Merry Christmas everybody! yours humbly and loyaly, as always- Taxpayer
World Class no more….Boo Hoo hoo. The Can’thers aren’t going anywhere. The Chargers or Raiders or both will move to L.A. .
I agree they aren’t going anywhere. Would hate it if they did, but principle is principle. The Hornets left, but we got another team. Our market is too valuable. Re: Panthers are 13th most valuable sports franchise. I have no worries and no regrets.
hope you are right, you to Mr. Hine but what keeps them here?
In the perfect world, what keeps them here is a realization that “crony capitalism” is frowned upon and no further civic entities will play the tax bonus game. Heaven forbid free markets must reign.
Since that isn’t a realistic goal yet (plenty of misinformed urban planners will play this game that everyone loses) I offer this.
The Panthers will stay because *they are the 13th most profitable francise*! Why risk that? We have the population, the dedication, the growing fan base, etc. The team may stink now, but so did the Patriots for decades. It comes in cycles.
We haven’t had a TV blackout for years. The San Diego Chargers game we just played (and won!) their local fans couldn’t watch. Our games are sold out, mostly due to PSL owners. That was a terrific business move. With sold out games, there is no reason to move!