Panthers' financial leak comes at bad time for Jerry Richardson
It’s no surprise NFL teams were making money heading into and coming out of the NFL lockout.
No one ever suggested they were losing money.
But a report by Deadspin this afternoon details that the Carolina Panthers and Jerry Richardson, a hard-line owner during the lockout process, made $112 million profit over 2010 and 2011. Deadspin has plenty of documents it says backs all this up.
It is rare that NFL financial information like this leaks out and it’s problematic for Richardson because of the timing. The Panthers are working to secure public funding for refurbishing of Bank of America Stadium from the state of North Carolina. The club already has the city of Charlotte on the hook for some money and now Richardson and the Panthers are looking to reach into state coffers.
The problem is North Carolina, like pretty much every other state, is in a financial crunch and it’s difficult for lawmakers to hand money over to sports franchise owners. That is why the timing of this matter is only going to harm Richardson and laterally it could do damage to the Miami Dolphins, who are also seeking public aid for stadium assistance.
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Brad Biggs covers the Bears for the Chicago Tribune