Not All As It Seems?

Bank of America Stadium could receive over $200M in publicly financed renovations

The NFL Panthers on Thursday said that the team “made $66.5 million during the 2010 and 2011 seasons, after an audit of the team was published” by Deadspin, according to a front-page piece by Steve Harrison of the CHARLOTTE OBSERVER. The audit showed that the team’s “net income for those two seasons was just under $100 million,” and a net income of “nearly $72 million for the year ending in March 2011, after the team went 2-14.” The Panthers said that the team’s profitability “is much lower,” and its “cash flow -- before taxes -- for those two seasons was $66.5 million.” The Panthers said the figures are an “isolated snapshot … during an unusual time as the ...