Because the current system of professional sports allows pro sports team owners to hold cities hostage, Carolina Panthers owner Jerry Richardson was able to extract $87.5 million from the people of Charlotte to renovate his 17-year-old stadium. The gift came with only a six-year promise from Richardson to stay in town. That means the people of Charlotte are paying $116.50 per resident to see the team for another six years. Read more here.
Shouldn’t that gift to Richardson at least come with a promise from him that he won’t black out fans? Or further raise ticket prices?