Panthers owner: We don’t have to pay for stadiums, we’re the phone company

First it was Miami Dolphins CEO Mike Dees saying only taxpayers are stupid enough to spend money on stadiums, now it’s Carolina Panthers owner Jerry Richardson being maybe just a bit too honest about why he’s demanding public subsidies to renovate his privately built-and-owned stadium:

Asked Wednesday why the team couldn’t pay its own way, Richardson said, in short, because they don’t have to. NFL teams, he said, “are so coveted, they don’t have to pay. There are only 32.”

In other words, “We’re a monopoly, so like it or lump it.” Lily Tomlin couldn’t have said it better.

6 comments on “Panthers owner: We don’t have to pay for stadiums, we’re the phone company

  1. This may be one of the best articles you’ve linked to. Don’t you understand the estate tax, Neil?!? His kids would owe more money than 10,000 Charlottans make in a year!

    Even though the way he’s going about it may be gauche, Richardson does have some leverage here. If he offered the team for sale right now, he’d probably get a higher offer from someone looking to move a team than he would from someone committed to staying. If the city and state give him some free money in exchange for agreeing to stay for 15 years, then that would remove the threat of an immediate move.

  2. The estate tax is 35% of the estate with first $5+ million untaxed. This means that 99.87% of households are not subject to the tax and of the 0.13% that are are taxed at an effective rate of under 15%. On top of this there are a wide range of exemptions to the estate tax that any decent accountant knows making the tax easy to avoid for any determined individual.

    There is a lot of intentional misinformation surrounding this tax and good people do not spread misinformation. Richardson is spreading misinformation in a lot of ways.

  3. FMS:

    Thanks for the clarification re: the Estate Tax. Thankfully, I’ll never be troubled by it (wait…).

    I don’t want to give today’s sporting robber barons a pass for what is appalling and disgraceful behaviour, but I will repeat once more that we should be less appalled at these assholes asking for money from widows and orphans than we are at politicians who pass laws that forcibly extract that money for them.

  4. “Move the team to where exactly?”

    San Antonio, TX. Wait……that won’t work. The Alamodome would only be temporary. A new football-only stadium would have to be built in San Antonio and that’s not going to happen.