“Charlotte City Council OK's Panthers stadium renovation plan”

BobPSU92

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See the link below. From the article:

“CHARLOTTE, N.C. -- The Carolina Panthers are staying in Charlotte for the foreseeable future.

The Charlotte City Council voted Monday night to approve a joint $800 million stadium renovation plan with the Panthers that ties the NFL team to the city for the next 20 years.

Under the policy document, the city will pay $650 million toward the renovation of Bank of America Stadium in return for Panthers owner David Tepper keeping the team in Charlotte through 2045. Tepper will pay the remaining $150 million up front.

Tepper already has invested more than $117 million in stadium upgrades and also has agreed to another estimated $421 million in potential overages for capital improvements over the term of the deal.

The city's investment would be funded by existing hospitality and tourism tax resources, which are required by the state to be spent on projects to support the city's tourism economy.”



Nice to see that they won’t be using tuition dollars.

Kraft probably read this article and said to himself, “See? We’re on the right path.”
 
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PSUJam

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Oct 7, 2021
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See the link below. From the article:

“CHARLOTTE, N.C. -- The Carolina Panthers are staying in Charlotte for the foreseeable future.

The Charlotte City Council voted Monday night to approve a joint $800 million stadium renovation plan with the Panthers that ties the NFL team to the city for the next 20 years.

Under the policy document, the city will pay $650 million toward the renovation of Bank of America Stadium in return for Panthers owner David Tepper keeping the team in Charlotte through 2045. Tepper will pay the remaining $150 million up front.

Tepper already has invested more than $117 million in stadium upgrades and also has agreed to another estimated $421 million in potential overages for capital improvements over the term of the deal.

The city's investment would be funded by existing hospitality and tourism tax resources, which are required by the state to be spent on projects to support the city's tourism economy.”



Nice to see that they won’t be using tuition dollars.

Kraft probably read this article and said to himself, “See? We’re on the right path.”
In other news, Northwestern broke ground on a new $800 million stadium that could only hold our student section.

 
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GrimReaper

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In other news, Northwestern broke ground on a new $800 million stadium that could only hold our student section.


Could PSU get someone to privately fund renovation of the student section in Beaver Stadium?
 

BobPSU92

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Oct 12, 2021
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In other news, Northwestern broke ground on a new $800 million stadium that could only hold our student section.



This is what we’re up against.

How do northwestern alums feel about this? Doesn’t it go against their academics-first ideals?
 

Midnighter

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See the link below. From the article:

“CHARLOTTE, N.C. -- The Carolina Panthers are staying in Charlotte for the foreseeable future.

The Charlotte City Council voted Monday night to approve a joint $800 million stadium renovation plan with the Panthers that ties the NFL team to the city for the next 20 years.

Under the policy document, the city will pay $650 million toward the renovation of Bank of America Stadium in return for Panthers owner David Tepper keeping the team in Charlotte through 2045. Tepper will pay the remaining $150 million up front.

Tepper already has invested more than $117 million in stadium upgrades and also has agreed to another estimated $421 million in potential overages for capital improvements over the term of the deal.

The city's investment would be funded by existing hospitality and tourism tax resources, which are required by the state to be spent on projects to support the city's tourism economy.”



Nice to see that they won’t be using tuition dollars.

Kraft probably read this article and said to himself, “See? We’re on the right path.”

 
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Midnighter

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Oct 7, 2021
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This is what we’re up against.

How do northwestern alums feel about this? Doesn’t it go against their academics-first ideals?

Um, the person/people/entity who privately funded it can do whatever they want.
 
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GrimReaper

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This is what we’re up against.

How do northwestern alums feel about this? Doesn’t it go against their academics-first ideals?

Um, the person/people/entity who privately funded it can do whatever they want.
IIRC, one version of the proposal had NU paying about $150mm. That met with some opposition from the faculty. That was largely eliminated when NU got donors to kick in the rest.
 

GrimReaper

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Whereas we have poor alumni who don’t want to support our program.

The air must smell really good in Evanston. 😞
Pretty sure PSU doesn't have an alum with a net worth close to Pat Ryan's. Would be an interesting exercise to se how many of the Top X would have to be added up to get there.
 

PSUJam

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BobPSU92

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