FanPost

BofA Stadium Upgrades Negotiations

In an article on the Charlotte Business Journal web site, Erik Spanberg, outlines the discussion between the Panthers and the City of Charlotte for stadium upgrades. While I suggest using the link above to read the article yourself, let's look at the important details of the proposal:

  • Total Investment $250 million
  • $125 million paid by the City of Charlotte
  • $62.5 million from the State of North Carolina
  • $62.5 million paid by the Panther's organization
  • Panthers commit to staying in Charlotte for 10 years

The city's money would come from a 1% tax on restaurant meals and bar tabs. The state has said they would not provide money for the stadium, but would be willing to provide infrastructure.

With this in mind, let's drill down a bit in terms of negotiation. As the article points out, the 1% tax would pay off the investment after 15 years, yet Richardson is only committing to 10 years.

As we all know, the Big Cat is a shrewd negotiator who will use whatever levers he can to get the deal he wants. So what pressure points does he have.

  1. As things stand, he could move the Panther's whenever he wants to. Sure, due to his ties to the community, he probably wouldn't, but because he doesn't have a lease, he could.
  2. He announced the team would be sold two years after his death. Without the the commitment to the city, the buyer could move the team anywhere.
That second pressure point is probably the most painful one he has because of the fear of the unknown. Richardson is 76, so he could live another 20+ years. He could also, heaven forbid, pass away much sooner. This makes the 10 year commitment so important.

Since I don't live in the Charlotte area, I'm not going to offer an opinion on whether the city should pay the $125 million, but I do want to know what you think. Take the poll and make your comments bellow.





The content of these posts are those of the user/fan making the post only

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

Join Cat Scratch Reader

You must be a member of Cat Scratch Reader to participate.

We have our own Community Guidelines at Cat Scratch Reader. You should read them.

Join Cat Scratch Reader

You must be a member of Cat Scratch Reader to participate.

We have our own Community Guidelines at Cat Scratch Reader. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_9341_tracker