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re: Panther's Financials Leaked, $112mil In Profits 2010-2012
Posted on 3/7/13 at 8:11 pm to molsusports
Posted on 3/7/13 at 8:11 pm to molsusports
We don't disagree. Like I said, if they are taking home money every year as well as the asset appreciating they are getting something like 15 percent return....which is amazing. If that's the case, I concede the point.
0
Posted on 3/7/13 at 8:14 pm to Tiger n Miami AU83
Is the 60MM depreciation the stadium?
Posted on 3/7/13 at 8:16 pm to BBONDS25
No, I think the stadium was only listed at $57MM. And it would be depreciated over 31 years so no way that much relates to the stadium. Didn't look like their fixed assets took a big jump either in 2012. Maybe they included amortization of contracts or something in there. I dunno, I already closed the link.
Netflix time for me.
Netflix time for me.
Posted on 3/7/13 at 8:28 pm to Tiger n Miami AU83
It is, its purely amortization of contracts. Simplistically, signed more people (higher capitalized asset aka "Player Contracts - net") and thus higher amortization expense on the I/S.
Posted on 3/7/13 at 8:47 pm to molsusports
quote:
because the ownership of the panthers had been pleading poverty
Um, they are taking care of their investors. They don't have skin in the game for the heck of it. They are there to make a profit. Of course they are not making enough money. If you are an investor, there is no such thing as enough money.
Posted on 3/7/13 at 9:31 pm to SabiDojo
quote:
They are there to make a profit. Of course they are not making enough money. If you are an investor, there is no such thing as enough money.
that's great, and in the case of a pure business with no government assistance I'd agree but... the argument gets pretty unethical IMO when the public is financing a lot of that substantial profit
Posted on 3/7/13 at 9:34 pm to molsusports
quote:
that's great, and in the case of a pure business with no government assistance I'd agree but... the argument gets pretty unethical IMO when the public is financing a lot of that substantial profit
Welcome to America.Posted on 3/7/13 at 9:41 pm to SabiDojo
Actually, it's blatantly clear from those financials that virtually all of their profit is from the decidedly non capitalistic revenue sharing agreement. I don't like the public financing of stadiums at all, I'm just saying.
Posted on 3/7/13 at 9:54 pm to lighter345
quote:
Well that was pre lockout, so probably at least double that.
And again I don't care about the money or who's making it. Just don't like the fact the owners were saying the system was broken when a small market losing team was doing just fine.
That's just a stupid point of view. The owners never said they were losing money. They said that the landscape had changed and they weren't making as much as they were when the original deal was struck.
It's always funny watching people get upset when people make money.
Posted on 3/7/13 at 10:06 pm to BBONDS25
quote:
Thats 3.734% return a year. Is that supposed to be outrageous?
That is not how ROI math works.
Posted on 3/7/13 at 10:23 pm to molsusports
quote:
the argument gets pretty unethical IMO when the public is financing a lot of that substantial profit
Governments at every level do this. I'd be interested to see the cost-benefit analysis for the city of Charlotte when they decided to put up the $144M. It is likely a huge windfall for the tax payers.
Posted on 3/7/13 at 10:26 pm to lighter345
Wow they keep a lot of liquid assets, then again, players do like to be paid that year.
This post was edited on 3/7/13 at 10:28 pm
Posted on 3/7/13 at 10:30 pm to Jcorye1
3.5 fricking million a year for stadium naming rights?
Posted on 3/7/13 at 10:31 pm to Jcorye1
Considering they have a net working capital deficit of $63 million (or even just a gross working capital deficit of ~30mm) on $300 million asset base, I'd beg to differ.
Posted on 3/7/13 at 10:33 pm to kfizzle85
quote:
Considering they have a net working capital deficit of $63 million (or even just a gross working capital deficit of ~30mm) on $300 million asset base, I'd beg to differ.
I'm not going to lie, I'm half buzzed and just gawking at the numbers.
Posted on 3/7/13 at 10:37 pm to slackster
quote:
It is likely a huge windfall for the tax payers.
I think you mean that it may be a windfall for the local governments. I doubt the individual tax payers received a check or anything in the mail.
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