No money for old men: State says no to Panthers funding

Zoom Zoom - Jeremy Brevard-US PRESSWIRE

The Carolina Panthers have met their first road block in securing more stadium funding.

Jerry Richardson was hoping to add more money to his Panthers' kitty (forgive the pun), by securing additional funding from the North Carolina state government for stadium upgrades. The $62.5 million, in addition to that already planned from the city of Charlotte, would help add escalators, new scoreboards, and other amenities to Bank of America Stadium. In a report today by the Charlotte Observer, governor Pat McCrory is having none of it.

The Panthers are looking for a total renovation of $250-million, and being rebuffed by McCrory was the team's second hit in a week. Lawmakers in Charlotte rejected doubling the city's food and beverage tax, instead using existing tax money. This would give the Panthers an estimated $110-million, and without any funding from the state government, it seems unlikely the organization will meet their public funding goal of more than $200-million.

Whether Richardson should ask the city and state for money at all is a political conversation not worth having in this forum. The natural fear is to assume this could potentially sour the relationship between the Panthers and the Carolinas, but with Los Angeles having stadium issues of their own, it seems unlikely that LA is a credible threat.

It's all posturing and negotiation at this point. Expect this floundering to last a little longer, before the actual business gets done and both sides can reach a funding agreement.

X
Log In Sign Up

forgot?
Log In Sign Up

Please choose a new SB Nation username and password

As part of the new SB Nation launch, prior users will need to choose a permanent username, along with a new password.

Your username will be used to login to SB Nation going forward.

I already have a Vox Media account!

Verify Vox Media account

Please login to your Vox Media account. This account will be linked to your previously existing Eater account.

Please choose a new SB Nation username and password

As part of the new SB Nation launch, prior MT authors will need to choose a new username and password.

Your username will be used to login to SB Nation going forward.

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,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

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