Economic Effects of

Sports in Charlotte
and NC
DEJAUN TYSON, WILLIAM MILLER,
TRISTAN JAREMA
Economic Factors
Carolina Panthers Charlotte Hornets

HB2 Law Special Events

Hornets
THE CITY OF CHARLOTTE WAS ONLY A NATURAL SITE FOR ONE OF
THE FOUR NEW TEAMS THAT WOULD BEGIN PLAY OVER A TWO
YEAR PERIOD. THEY WERE FOUNDED AS AN EXPANSION TEAM IN
1988.
 NBA. Hornets.

History of the Hornets

NBA.com/Hornets. 1 Jan 2017.
NBA.com/Hornets

In 1988 after the growing expansion of the NBA, they were looking for new cities
to introduce into the league and become a full blown team. The City of
Charlotte was only a natural site for one of the four news teams that would
begin play over a two year period. (Fleming )
In 2001/2002 season the Charlotte Hornets planned for a move to New Orleans
following the season were arranged, after the City of Charlotte refused to give
funding to a new arena unless scandalous Owner George Shinn sold the
team.(Fleming)
Hornets transition to the Bobcats

Beginning in the 2004 season the Hornets were officially the

Bobcats. This drew much attention and this made attendance go
up at the game at their brand new arena. The next season ticket
sales were good. But then it took a turn for the worst. With a bad
team and one of the worst records in the NBA the Bobcats ticket
sales were abysmal. Making our tickets some of the
cheapest in the NBA.

Gaines, Cork. Average Ticket Prices For All

30 Teams In The NBA. Business Insider. Fan
experience. V1. 14 Feb. 2014.
http://www.businessinsider.com/average-
ticket-prices-for-all-30-teams-in-the-nba-
sports-chart-of-the-day-2013-2
Hornets transition to the Bobcats
cont.
Over the next decade from 2004-2013 had two winning seasons
and went to the playoffs twice. From cross referencing and looking
at ticket sales the worse the Bobcats, did the worse the economy
was. It was a big impact but more of a trickle down effect. For
examples since they werent doing as well people werent
spending money on the Bobcats, not coming to hotels or eating at
restaurants after games, the Bobcats didnt employ as many
people.
Bobcats worst
season.Onlyagame.Fig 1. 28 April
2012.
http://onlyagame.legacy.wbur.or
g/2012/04/28/bobcats-worst-
history
 Bobcats transition back to the
Hornets
Jordan, who bought the team, in 2010 was
slowly helping the team come back to the
level they once were in the 1990s.
Jordan alone boosted ticket sales and fan
interest back in 2010. In 2013 Jordan put a
name request change in for the Hornets to
bring back some buzz. They approved the
change in July 2013 and the change would
start next season.
As you can see ticket sales and team
revenue rose since 2014.
Hornets Arena economic impact
The Charlotte Hornets arena isnt just a place where they play
basketball it has a big economic impact for the city of Charlotte.
The Spectrum Center, previously (The Charlotte Bobcats Arena),
was built in 2005. The NBA, The Bobcats, and the City of Charlotte
all worked together to build it, since the Hornets moved to News
Orleans each party felt that Charlotte needed a new arena for
their new team. The total cost was 260 million dollars. The city
released a University of South Carolina study that said the
economic impact of the area was $263 million in 2013.
Ways the Hornets and the Spectrum
Center impact the economy
When the people attend Hornets games things that get impacted are:
Hotels
Restaurants
Parking/ Transportation (Taxis/Uber)
Other attractions
Shopping
Westin Hotel. Westin Charlotte.
Museums Westin.com.
http://www.westincharlottehotel.com/

Parks/Whitewater center
Spectrum Centers other economic
impacts for CLT
In addition to the Hornets games the Spectrum Center uses the arena
for
Concerts
Circus
Ticketmaster. Checkers.
Ticketmaster/carolinacheckers.
Wrestling http://s1.ticketm.net/tm/en-
us/dbimages/200905a.jpg
Carolina Checkers
Democratic National convention in 2012
While these arent directly the Hornets team, the arena is part of the
team and boosts the Charlotte economy immensely with all of these
different shows and performances.
 Effects professional sports has on the
Charlotte area.
Table E.1 shows that in 2011 over 4,700,000 persons
either attended events or participated in amateur
youth tournaments within the Charlotte MSA. Direct
spending on sports events, video production, and youth
tournaments was $1,094,814,607 during the year.

Table E.2 shows that total spending (including direct,

indirect, and induced effects) on sports events, video
production, and youth tournaments was $2,188,207,639
during the year.
Hornets come full circle

In addition to boosting the economy the Hornets come full circle and
give back to the local Charlotte community through their Charlotte
Hornets foundation. They give back to:
Veterans
Local schools
Teachers
The under privileged
Jarema, Tristan.
Screenshot from the
Hornets Foundation.
Hornets.com. 1 Jan. 2017.
http://www.nba.com/horn
ets/charlotte-hornets-
foundation-0
House Bill 2 (HB2 Law)
North Carolinas
newest law solidifies
states role in defining
discrimination.
- Michael Gordon
Wtvd. "Charlotte Schools Defying HB2 with New Bathroom Policy." ABC11 Raleigh-
Durham. N.p., 21 June 2016. Web. 02 May 2017.
What is the HB2 law?
A law that prevents transgender or gay people from
using government-run bathrooms corresponding to
the gender with which they identify (Gordon)
It was passed on March 23rd, 2016

"HB2: North Carolina's Most

Ridiculous Law Yet." Odyssey.
N.p., 04 Apr. 2016. Web. 02 May
2017.
 Backlash of the HB2 law
Many people such as homosexuals and
transgender people feel they are being
discriminated against
Major companies are moving business out of the
state of North Carolina (Bonesteel)

Board, The
Editorial.
"Mississippi's 'HB2 "Why the HB2 Boycott of
Law' Falls, NC's North Carolina Is Working."
Should Be next." Facing South. N.p., 08 June
Newsobserver.
N.p., n.d. Web. 02
May 2017.
2016. Web. 02 May 2017 .
Economic Loss due to HB2 law
The NBA, NCAA, and
ACC all pulled their
tournaments out of
North Carolina

The total revenue lost

from these
organizations adds up
to 197.4 million
dollars

(Data via Forbes)

(Via Forbes)
Economic Loss cont.

Many other
companies removed
business operations
from North Carolina
Some include Paypal,
Costar, and Adidas
(Associated Press)
Jurney, Corinne. "North
Carolina's 'Bathroom Bill' Has
Flushed Away $600 Million In
Business And Could Dash
Governor's Re-election Hopes."
Forbes. Forbes Magazine, 14 (Graphic via Forbes)
Dec. 2016. Web. 02 May 2017.
Special Events
North Carolina hosts sport events, conventions, and
concerts
Includes CIAA weekend, NBA All- Star weekend
(formerly), and NCAA Basketball tournaments

DressupNation.com.
"Charlotte Entertainment."
Pinterest. N.p., 31 July 2014.
Web. 23 Apr. 2017.
Benefits of Special Events
Some events lead
to increase in local
business

Includes
restaurants, hotels,
bars, and other
types of businesses

Committee, City Council Economic Development.

CIAA Economic Impact Trends (n.d.): 1-9. (Charlotte Regional Visitors Authority)
Charlotte Regional Visitors Authority, 09
Mar. 2017. Web. 20 Apr. 2017.
The Carolina Panthers

Who?
-Charlottes professional football
team
-Play in the NFC South division
Where?
-Bank of America Stadium,
Downtown Charlotte
When?
-Since 1993

Fig. 9 Carolina Panthers logo

Source: panthers.com
 History of the Carolina Panthers
Majority owner Jerry Richardson
had a dream in 1987
Charlotte was awarded the Panthers in 1993
First game was in 1995
Fig. 10 Jerry Richardson
Source: panthers.com

Fig. 11 Carolina Panthers

logos
Source: sportslogos.net
 Carolina Panthers revenue

Fig. 12 Graph showing the Revenue of the Carolina Panthers over the past 15 years
Source: statista.com Carolina Panthers Revenue from 2001 to 2015
 The Panthers Economic Impact

Panthers economic impact:

$636 million annually
(U of SC study)
Economic impact in Mecklenburg
county: $512 million annually
(U of SC study)
Panthers named Economic Growth Champion

Received in 2016, given

to the NFL franchise with
the most growth economically.
Inaugural year for the
award

Fig. 13 Executive Danny Morrison accepting the award

Source: Charlotte Chamber Economic Growth Champion
Bank of America Stadium

College football game

- NC vs SC
ACC Championship
Belk Bowl
MLS games
-Impact of FC Bayern
Munich
and FC internazionale
Fig. 14 Bank of America Stadium
Source: si.com ACC extends deal with Bank of America Stadium for league title game
How the Panthers help the City
Hotels
-40% increase in revenue
Local businesses
-Bars
-Restaurants

Fig. 16 Westin hotel

Source: portmanusa.com
Fig. 15 Epicenter in Downtown Charlotte
Source: tripadvisor.com
Conclusion

Charlottes professional sports teams and the stadium/arena they play

in both have a positive impact on the economy. Without these teams
and what they bring, Charlotte wouldnt make nearly as much money
as it does. The HB2 law is something that negatively impacted both
Charlottes and North Carolinas economy as a whole. This law made
companies pull their businesses from NC. Because of this, Charlotte lost
hundreds of millions of dollars that it couldve potentially made.
Overall, the city benefits economically from its sports teams and the
sporting events that takes place here.
Works Cited
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18 April. 2017. 4
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Works Cited cont.
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Works Cited cont.
EndPlay. "Study: Charlotte Sports Industry Has $2.1 Billion Economic Impact."WSOC. N.p., 28
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Silber, Chad. "The Carolina Panthers' Effect on the Economy." Mansfield News Journal. N.p., 28
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Works Cited (images)

(Slide 3) Is Hugo coming home to Charlotte?- Rebranding the

Charlotte Bobcats to the Charlotte Hornets. Dilemma X. Fig 2.2. 17
April. 2013.
(Slide 7) Growth in Revenue of the Charlotte Bobcats. Statista. 1
Jan 2017. www.statista.com
(Slide 8) Short, John. Spectrum Center. Charlotteagenda. V1. Fig
1. 18 Aug. 2016. https://www.charlotteagenda.com/63111/one-
welcome-new-spectrum-center-overlord/
Works Cited(images)

Couldnt fit all of the MLA citation of my pictures on the slides.

Hornets slides
(Slide 5) Costa, K.L. Bobcat Logo.NBAballnationblogspot. 20 April. 2014.
http://nbaballanationtezscorner.blogspot.com/2014/04/bobbing-for-
wins-can-bobcats-upset-heat.html
(Slide 6) NBA. Bobcat Logo. Bobcat Wallpapers. 1 Jan.2013. Fig 1.
NBA.com/Hornets
(Slide 6) Wagner, Laura. The Evolution Of The Michael Jordan Crying
Face Meme. NPR. 31 Mar. 2016. http://www.npr.org/sections/thetwo-
way/2016/03/31/472330783/the-evolution-of-the-michael-jordan-crying-
face-meme
Works Cited(Images)

(Slide 9) Johnson, Evan. Uber logo. MountainTimes. 28 Dec.2016.

http://mountaintimes.info/ride-share-app-uber-debut-killington/
(Slide 9) Simon Properties. South Park Mall. Simon Properties.
http://www.simon.com/mall/southpark/about
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http://northcarolinamotorsportsassociation.org/wp-
content/uploads/2012/07/CharlotteMSASportsEconomy.pdf