The Carolina Panthers had a profit of $112 million in the years ending March 31, 2011 and March 31, 2012.

Owner Jerry Richardson was amongst the hardliners in urging his fellow owners to "take back our league" by demanding a more management-friendly collective-bargaining agreement.

Richardson argued that the NFL had a broken business model.

Over the first priod, the Panthers brought in an operating profit of $78.7 million despite a 2-14 record. Richardson and his partners paid themselves $12 million.

During the following year, the Panthers had an operating profit of $33.3 million.