Panthers Beat Broncos in Subsidy Bowl 50

Panthers Beat Broncos in Subsidy Bowl 50 | Economics21
As anticipation for Super Bowl 50 builds, one winner has already been decided.
When it comes to what team treats its local taxpayers better, the Carolina Panthers blew out the Denver Broncos.
To determine the winner, we can compare the burdens of direct taxpayer subsidies for the teams’ stadiums.
The Broncos received $400 million (adjusted to 2016 dollars) for Sports Authority Field, or 75 percent of the total cost.
Taxpayers gifted the Panthers $165 million, or 30 percent of Bank of America Stadium’s total bill.
Here’s the breakdown for both teams.
(If your team lost in the playoffs, check out my analysis of the Bengals, Seahawks, Steelers, and Vikings here and Cardinals and Patriots here).
Denver Broncos
The Denver Broncos play at Sports Authority Field at Mile High Stadium.
Taxpayers took on a $300 million share of the $400 million cost of the stadium when construction began in 2002.
One of the ways this public financing was paid for was through a 0.1 percent sales tax that was applied to taxpayers in six Colorado counties until 2012.
Even though taxpayers funded the majority of the stadium, they are forced to split the $6 million annual profits from naming rights 50-50 with the Broncos.
Instead of the operating revenues going back to the taxpayers, Sports Authority Field’s proceeds go to the Broncos’ billionaire owners, the Bowlen family.
Carolina Panthers
The Panthers' home field since 1996, Bank of America Stadium in Charlotte, North Carolina, was billed as "privately financed," even though the city provided $40 million for land, and the county provided $10 million for building relocation.
In April 2013 the Charlotte City Council voted unanimously to give the Panthers $87.5 million to upgrade their stadium and renovate luxury suites.
In exchange for this handout, the Panthers promised to stay in Charlotte for six more years.
One of the reasons for the package's unanimous approval was a fear that the team would pack up and move to the Los Angeles area.
Maybe now that the St. Louis Rams and the San Diego Chargers are moving to Los Angeles, the commonly-used bargaining chip of threatening to move a NFL team there will finally be off the table. 
However, NFL owners are professionals at extracting public funds. 
Rumor has it that the Oakland Raiders are considering a move to Las Vegas, so it is likely that taxpayer extortion will continue.
Publicly-funded stadiums are not unique to the Broncos and Panthers.
All but two NFL stadiums received direct subsidies for their stadiums (the Jets’ and Giants’ Meadowlands and Patriots’ Gillette Stadium are the exceptions).
The NFL is by far the most valuable sports team in the world.
Team owners do not need taxpayer aid to turn a profit, yet this problem is only growing.
Public funding for stadiums completed in the 2000s was 70 percent higher than for those completed in the 1990s.
League-wide, about 70 percent of the capital cost of NFL stadiums has been provided by taxpayers, not NFL owners.
To see one other example, let’s also take a look at the stadium that will host Super Bowl 50, Levi’s Stadium.
San Francisco 49ers
Read on!