Obama might hold his convention speech at Bank of America stadium to raise more money from potential donors. Credit: Wikimedia Commons
Today, Bloomberg reports that President Barack Obama’s re-election campaign is considering moving his speech on the final day of the Democratic National Convention to Bank of America Stadium in Charlotte, North Carolina.
But it’s not because of sell-out crowds. It’s to sell more skyboxes to moneyed donors:
The almost 74,000-seat home of the Carolina Panthers professional football team would also have room for the convention to sell more floor passes close to the stage. Planners for the event are struggling to meet a $36.6 million fundraising goal…
Obama’s advisers are aware of the political downside of the president delivering his nationally televised acceptance in a stadium named for a bank that considered imposing a fee that he said would have “mistreated” customers, [Obama’s advisors] said.
That would be outweighed by the chance to lure more big- dollar contributors, including corporate foundations, to cover the convention’s costs…
The Charlotte host committee is apparently having trouble fundraising because it is prohibited from taking donations from corporations and lobbyists, a practice that was allowed in past years.
Bank of America, which is based in Charlotte, was at the heart of the 2008 financial crisis and needed a $45 billion bailout. The Obama administration has had a mixed relationship with the bank, recently criticizing it for charging debit card users a $5 monthly fee.
Still, the promise of money talks.
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Bloomberg: Obama May Move Convention Speech to Bank of America Stadium
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