Quote:
Originally Posted by SuperUnknown
Anyway, even if the Panthers weren't playing there, chances are such an asset would turn a profit of $10M per year anyway.
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Actually, from
the actual report (table 1), net income for the arena was:
1999: $15.325 million
2000: $12.674 million
2001: $12.305 million
2002: $7.387 million
2003: $5.148 million
2004: $6.497 million
2005: $1.024 million
2006: $11.710 million
2007: $9.576 million
2008: $8.257 million
AOC's fiscal year-end date is September 30. Guess what was so special about FY 2005?
I'm not saying you're wrong, but the actual numbers suggest that the only year without the Panthers was also by far the worst year. Don't forget that AOC pockets net profits from food/merchandise, suites and club seats for Panthers games too.