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NFL Panthers PSL Owners Publish Letter To Owner Richardson
Published December 17, 2012
A group calling itself the "Perturbed Panther PSL Owners Federation" writes an open letter to NFL Panthers Owner Jerry Richardson in the form of a full-page ad in today's Charlotte Observer. The group states it is "writing to call a regrettable personal foul on the most tenured and venerable member of the Carolina Panthers organization – YOU!" It adds that PSL owners in '95 paid $368M (2012 dollars) to build the team's home stadium, and compares the team's business model to that of a "Pyramid Scheme."
The letter goes on to state, "As business executives for many years ourselves, we know that if the Panthers were a company accountable to its public investors, with a perennial performance record that resembled your win-loss record, its board of directors would have a crisis on their hands. ... We are convinced the Panthers true potential and, worse, our community pride are being forfeited in favor of squeezing out more profits. We want you to run this team like a competitive enterprise rather than a monopoly" (CHARLOTTE OBSERVER, 12/17).
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The letter goes on to state, "As business executives for many years ourselves, we know that if the Panthers were a company accountable to its public investors, with a perennial performance record that resembled your win-loss record, its board of directors would have a crisis on their hands. ... We are convinced the Panthers true potential and, worse, our community pride are being forfeited in favor of squeezing out more profits. We want you to run this team like a competitive enterprise rather than a monopoly" (CHARLOTTE OBSERVER, 12/17).
