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	<title>Cat Crave &#187; city of Charlotte</title>
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		<title>Carolina Panthers Agree to 15-year Deal with City of Charlotte</title>
		<link>http://catcrave.com/2013/02/09/carolina-panthers-agree-to-15-year-deal-with-city-of-charlotte/</link>
		<comments>http://catcrave.com/2013/02/09/carolina-panthers-agree-to-15-year-deal-with-city-of-charlotte/#comments</comments>
		<pubDate>Sat, 09 Feb 2013 07:42:46 +0000</pubDate>
		<dc:creator>Ken Dye</dc:creator>
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		<description><![CDATA[<p>Charlotte Mayor Anthony Foxx announced late yesterday that the city of Charlotte and the Carolina Panthers organization have reached a tentative agreement that will keep the team put for at least the next 15 years. A &#8220;tentative&#8221; agreement simply means the two sides have agreed in principle and are in the process of ironing out [...]</p><p><a href="http://catcrave.com/2013/02/09/carolina-panthers-agree-to-15-year-deal-with-city-of-charlotte/">Carolina Panthers Agree to 15-year Deal with City of Charlotte</a> - <a href="http://catcrave.com">Cat Crave</a> - <a href="http://catcrave.com">Cat Crave - A Carolina Panthers Fan Site - News, Blogs, Opinion and more.</a></p>]]></description>
			<content:encoded><![CDATA[<p>Charlotte Mayor Anthony Foxx announced late yesterday that the city of Charlotte and the Carolina Panthers organization have reached a tentative agreement that will keep the team put for at least the next 15 years. </p>
<p>A &#8220;tentative&#8221; agreement simply means the two sides have agreed in principle and are in the process of ironing out the details before it is made legal.</p>
<p>It&#8217;s also one less distraction for an organization that has seen a shake-up at the very top and through the coaching ranks over the past few months. The end result is that potential free agents won&#8217;t have that concern and will make the Panthers that much more attractive to sign with unlike the Rams, for instance. </p>
<p>While salary cap issues are going to prevent the team from being in any big free agent market, every team usually picks up a couple of them for depth so it might have been an issue but no more.</p>
<p>Foxx indicated the city of Charlotte would give the Panthers over $140 million in tax revenue from a 1% increase in the food and beverage tax over the next 15 years during which time the Panthers must remain within the city. </p>
<p>The city has to ratify the tax increase and it appears some portion of the tax comes from the state level. I&#8217;m guessing the &#8220;food and beverage tax&#8221; may be only on restaurants and not grocery stores but that distinction is still unclear. I&#8217;m just wondering how far down this funding reaches into the everyday lives of average people.</p>
<p>When cities that have no NFL franchise build stadiums to possibly attract a team, it complicates matters. It&#8217;s called &#8220;poaching&#8221; and is the city&#8217;s biggest problem with the issue, according to Mayor Foxx. </p>
<p>For their part, the Panthers plan on making $250 million in stadium improvements over that time. Bank of America Stadium was finished and ready for the Panthers in 1996. </p>
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