Carolina Panthers Had $112 Million Profit Over Two Years

Jcool · 2013-03-07T13:48:48-08:00

In 2010 and 2011, as the NFL prepared for and staged a lockout of its players, Carolina Panthers owner Jerry Richardson was among the hardest of the hardliners, urging his fellow owners to "take back our league" by demanding a more management-friendly collective-bargaining agreement. Meanwhile, according to an audited financial statement obtained by Deadspin, Richardson's Panthers were making more than $100 million in profit over the fiscal years covering those two seasons. The statement is for the years ending March 31, 2011, and March 31, 2012. Over the first period, as Richardson argued that the NFL's business model was hopelessly broken and steered the owners toward a showdown to extract more money from the players, the Panthers recorded an operating profit of $78.7 million. The team had gone 2-14 on the field, but Richardson and his partners were able to pay themselves $12 million. Over the following year, after the owners had won their lockout and reduced the players' share of league revenue from 50 percent to 47 percent, the Panthers brought in $33.3 million in operating profit. Richardson began lobbying for public subsidies to renovate his 17-year-old stadium. The team went 6-10. The pro football business was very good in Carolina in those two years, even if the pro football wasn't. That much is evident from the document, which can be found at the bottom of the post and which offers a rare look inside an NFL club's books. http://deadspin.com/5988893/leaked-nfl-documents-while-owner-cried-hardship-carolina-panthers-had-112-million-profit-over-two-years?utm_campaign=socialflow_deadspin_twitter&utm_source=deadspin_twitter&utm_medium=socialflow

Mar 7, 2013 at 7:32 PM

TheRickestRick
Veteran
Posts: 10,450

Interesting, but such a small sample of financials is misleading. It would be nice to obtain the past 10-20 years to see if the profit is consistent or situational, ie: they loaded profits into the years in question to shelter profits from previous and future years.

Mar 7, 2013 at 8:10 PM

NC49erfan82
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Posts: 12,658

And they still suck!!! Screw the Carolina Panthers!

Miles, From North Carolina

Mar 7, 2013 at 11:09 PM

H41L5ATAN
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Posts: 4,417

Well I mean with Charles Johnson's contract and all...

Mar 8, 2013 at 10:48 AM

Young2Rice
Veteran
Posts: 71,764

Now we know why the players fought so hard.

These owners get paid millions off the bodies of the players. The only thing the owner is good for is lobbying on how to screw the little guy. Me, you, and players don't mean s**t compared to the all mighty dollar.

Mar 8, 2013 at 4:07 PM

Overkill
Moderator
Posts: 11,901

lol, somebody can't read financial statements...

Mar 8, 2013 at 4:57 PM

susweel
Hall of Nepal
Posts: 122,101

Originally posted by Young2Rice:
Now we know why the players fought so hard.

These owners get paid millions off the bodies of the players. The only thing the owner is good for is lobbying on how to screw the little guy. Me, you, and players don't mean s**t compared to the all mighty dollar.

don't hate the owner, hate the game.

Jul 24, 2013 at 7:20 AM

zillabeast
Veteran
Posts: 20,042

Jerry paid the hackers

Jul 24, 2013 at 8:33 AM

Dr_Bill_Walsh
Veteran
Posts: 20,589

great, thanks OP, you know you've just invited more idiot panther fans to come on here and spout off irrelevant statistics about how they're so superior to CA/SF and brag about some ugly-ass all black uni that they wore when they got their ass handed to them by old man Manning and the Broncos last year....I mean, these are the same tireless, numbers crunching fans that produced these inciteful graphics:

Jul 24, 2013 at 9:22 AM

blizzuntz
Veteran
Posts: 56,151

Is there something wrong with them making about $56 million a year as an owner?

I mean, some QBs alone make almost half that. And that is one player alone.

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Carolina Panthers Had $112 Million Profit Over Two Years