Tag: David Tepper

Arena Stadium

Isn’t it great when sports owners announce upgrades to their arena while contributing little to nothing themselves?

In Utah, the Smith Entertainment Group owns the local NBA and NHL teams. In order for this group to get almost a billion dollars from taxpayers to pay for upgrades to the current arena, the Group pledged to pay $3B dollars of their own money on upgrading the arena and renovations outside the venue. Only problem? Nobody knows any details about this pledge to pay $3B dollars. Can he walk away from this? Is it…

William Neilson Jr.
Stadium

The Carolina Panthers want $800 million from taxpayers, seem to be using the playbook from their last failed deal

In late 2018, David Tepper bought the Carolina Panthers. His first big project was to build a brand new team headquarters and training camp in Rock Hill, South Carolina. The $800 million deal was announced in 2019 and gave the team an absurd amount of tax credits and property tax savings. As ESPN put it, South Carolina leaders “cheered the investment, offering incentives and relishing getting a piece of the NFL team”. After construction of…

William Neilson Jr.
Arena

Charlotte continues to hand over public money to whatever sports team needs it. Next up, the Hornets!

Last week, Michael Jordan decided to cash out as majority owner of the Charlotte Hornets. The new owners will have an upgraded arena thanks to the city council, last week, voting to spend $215 million dollars in taxpayer money for Spectrum Center upgrades. For these upgrades, the team extended its lease until 2045. Included in this deal is not just arena upgrades. The new agreement includes plans to build a $60 million dollar practice facility.

William Neilson Jr.
Stadium

Charlotte taxpayers will be paying for a new stadium shortly

South Carolina House member John Ray Bradford stated that by keeping certain hospitality taxes in place until 2060, people should be happy because they are “not increasing any taxes”. Except, without this extension, locals would have paid less at hotels, bars, restaurants, etc… in the future. He also claimed that the city would have more confidence going to banks with more taxpayer money? Or something. My confidence is always sky-high whenever I see my “local…

William Neilson Jr.