The wealthy will get richer. As they typically do.
Panthers proprietor David Tepper, who’s price roughly $20 billion, will get $650 million in taxpayer cash for renovations to the crew’s 29-year-old stadium.
By way of Bret McCormick of Sports activities Enterprise Journal, Charlotte Metropolis Council voted 7-3 to approve the proposal on Monday evening. Tepper will contribute $150 million. He additionally might be accountable for value overruns.
The renovations will start in 2025 and will probably be accomplished by 2029.
“In the present day’s vote by the Charlotte Metropolis Council is the culmination of many considerate discussions with metropolis officers, native leaders, and our followers to create a shared imaginative and prescient for Financial institution of America stadium,” Tepper stated in a press release. “Nicole and I are grateful for the collaboration and help of the mission, in addition to our ongoing partnership between Tepper Sports activities & Leisure and the town.”
They need to be grateful. Metropolis council did what the voters absolutely wouldn’t have achieved.
That continues to be the largest disconnect in the case of stadium politics. Elected officers will do what voters in most jurisdictions is not going to do.
So why do the elected officers proceed to defy the desire of the folks? That’s an excellent query. One which must be answered by the seven who voted “sure” when they’re up for re-election.
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