Charlotte Business Journal proposes ways to raise $2B for Panthers stadium before owner has even asked for it

The Charlotte Business Journal has an article (paywalled, but you can find your way around it if you’re clever) speculating on ways that the city could help pay for a new Carolina Panthers stadium, and it comes down to:

  • Sales and property tax revenues are probably off the table, because the city needs those to fund basic services.
  • Hotel and rental car taxes are a possibility, but problematic because they’re already 8% and 16% respectively, and if you raise them much more, people might start booking their vacations (or conventions) elsewhere.
  • Doubling the restaurant tax from 1% to 2% could raise about $40 million per year, and would only hurt people who eat food, and totally wouldn’t reduce sales tax receipts because people would have less remaining spending money as a result or anything like that.
  • Tax-increment financing, because people still think tax revenues from a new project is not real tax money for some reason.

The entire article, of course, is right in line with the traditional local-newspaper tradition of treating team owner subsidy demands as a problem to be solved by looking under the sofa cushions to see where to find a few hundred million dollars, not as a proposal to be analyzed to see if it makes any damn sense. (There is exactly bupkis on what kind of economic impact if any Charlotte would see from gifting the Panthers a new stadium, though the writer did talk to the head of the local restaurateurs’ trade group, who predictably said they would fight against any restaurant tax hike.) You might think reporters should at least wait for the local team owner to actually make a specific ask beyond just saying “hey, the public really should buy me a stadium with a roof, my old one doesn’t have a roof, roofs are cool” before proposing ways to pay for it, but that’s been a problem for a long, long time.


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