All is not well with the Carolina Panthers, and it has nothing to do with recent years of putrid performance. Charlotte City Council will hear statements from the public on Monday about whether or not taxpayers believe $650M in revenue should be given to Tepper Sport Entertainment (TSE) to renovate Bank of America Stadium as part of a $1.3B proposal to upgrade the home of the Panthers.
Over 60 percent of residents polled disagree with the proposal, which would exchange the $650M for a 20-year guarantee that the team would not relocate from Charlotte. This “guarantee” gives TSE a 15-year out to leave in 2039 and pay “any outstanding debt” in exchange for the move.
It’s the latest in a back-and-forth between North Carolina residents and David Tepper, who has seemingly done everything in his power to become the most-disliked man in professional sports since purchasing the Panthers in 2018. While there’s little doubt some good has come from Tepper’s time, like the establishment of Charlotte FC in MLS and turning the stadium into a large-scale concert venue, he’s also alienated the public time and time again by making seemingly unnecessary changes that forsake tradition in name of the bottom line.
These changes include:
- Moving training camp from Spartanburg, South Carolina — which allowed lower-income fans to see the team in person, to the center of Charlotte on Panthers property to transform camp into more of a money-making venue, alienating fans.
- Removing natural grass from Bank of America Stadium and replacing it with field turf, much to the chagrin of players and fans.
- A plan to move Panthers headquarters to Rock Hill, South Carolina — which was seen as a positive move, only to have Tepper back out mid-construction and become embroiled in a legal battle with the county.
- Rumors of exploratory conversations with neighboring Kannapolis to build the stadium, if Charlotte didn’t play ball.
In short: There’s been myriad examples of why people should be wary of any deal involving Tepper that promises it will be better for them — because ultimately everything that has transpired since 2018 has only been better for David Tepper.
Where the current proposal falls short
There has been a lot of mistrust around Bank of America Stadium itself. Completed in 1996, the stadium is not yet 30 years old — but there has been a back-and-forth on whether what level of renovation the stadium actually needs.
Fans anticipated that any redesign for the stadium would include either a full or partial dome, which would allow for the city to host a Super Bowl, as well as other clear-cut amenities for fans. Instead the first stage of the revamp (and the only guaranteed changes) are largely superfluous, outside of restrooms.
There are legitimate questions why this first stage is set to cost over $650M, without really offering much to fans. It’s the Panthers’ argument that funds they’re looking for are already earmarked for tourism and development anyway, but new bathrooms and a video board doesn’t make the team more of a destination.
Essentially we’re seeing some basic infrastructure being pitched as a tourism improvement, with the veiled threat being that if these aren’t delivered then there’s no guarantee the Panthers will stay in Charlotte.
The majority of the changes people actually want come in the Tier 2 and Tier 3 development plans, both of which are at the whim of Tepper and the Panthers. There’s a very real possibility none of the most exciting elements of the redesign are realized — with taxpayers being on the hook for upfits they don’t really want.
Meanwhile, the $677M of public funds could be spent on a variety of tourism-centric public works that drastically improve the city, such as museums, public transportation, and a long-proposed rain line from Charlotte Douglas Airport — all of which would likely garner much more tourism than these changes for the Panthers.
Could the team really move over this?
Yes, absolutely. However, as we’ve seen in more recent NFL arguments over public funding it’s less about mammoth moves to different regions — and more about threats to move from outside city limits and into neighboring suburbs.
Ultimately it’s simple about finding a sucker to fit the bill, and there’s been no shortage of suckers in local government (especially outside of major cities) willing to fund pet projects for billionaires at taxpayer expense. In the case of the Panthers it would likely mean a move to wealthy neighboring areas in either North or South Carolina, both of which are part of the Charlotte suburban area.
In the grand scheme of things this would mean little to the NFL as a whole, but have a mammoth impact on the perception of the Panthers locally, who have called Uptown Charlotte home since the team’s inception.
Relocation for the Panthers has always been a risk. Tepper is the wealthiest individual owner in the NFL with a net worth of $20.6B. It would be peanuts for him to pay a relocation fee and exit the entire region if that’s what he wants, and there would be no shortage of other states willing to become the suckers to gain an NFL team.
The first salvo will be fired on Monday as the public voices their concerns. Ultimately this will help shape whether Charlotte City Council agrees to give the Panthers money, or rejects their overtures. If this funding falls through then the escalation will continue, and there’s no doubt talks of moving will be on the cards.