According to a report by Deadspin, leaked NFL documents have shown that, in the lead up to a potential lockout, Carolina Panthers owner Jerry Richardson and his team were turning a profit of over $110 million while Richardson claimed that the business model was broken and his team was facing hard times. Deadspin’s report shows that the Panthers are not the struggling franchise they were thought to be and that, according to a business professor from the University of Oregon, their future is “very bright.”
Deadspin reported the following despite Richardson’s claims:
The statement is for the years ending March 31, 2011, and March 31, 2012. Over the first period, as Richardson argued that the NFL’s business model was hopelessly broken and steered the owners toward a showdown to extract more money from the players, the Panthers recorded an operating profit of $78.7 million. The team had gone 2-14 on the field, but Richardson and his partners were able to pay themselves $12 million.
The report goes on to say that while Richardson and the managing partners of the Panthers were able to pay themselves $12 million, Deadspin does not know if this is typical for they do not have access to other team’s financial records. However, it is believed that Richardson was taking what was fair.