The modernization project approved by the city’s Legislature includes improvements to seats and social areas, with work scheduled to begin in 2026
The City Council of Charlotte, North Carolina, approved on the 2ndth fair (June 24, 2024) an $800 million renovation plan for Bank of America Stadium, home of the Carolina Panthers. The agreement guarantees the permanence of the team NFL in the city for another 20 years, after extensive negotiations.
The majority of the funding, $650 million, will come from hospitality tax funds, while Panthers owner David Tepper will contribute the remaining $150 million. Tepper has also committed to covering any additional costs, having already invested more than $117 million in stadium improvements.
Renovations will include modernizing sound and video systems, updating restrooms, new seating and creating social areas with views of the Charlotte skyline. An area of the south lawn pavilion will be transformed into a community gathering place. Construction is scheduled to begin in 2026 and complete by 2029.
The board’s approval, by a 7-3 margin, came despite concerns about the speed of the process and confidence in Tepper given the history of unrealized projects. However, most recognized the importance of the stadium and the team to the city’s economy and identity.
The agreement also extends the connection of Charlotte FC, an MLS soccer team, also owned by Tepper, with the city for another 15 years, with conditions for the subsequent five years that require Tepper Sports & Entertainment to pay off outstanding debts if teams be moved out of Charlotte.
#Charlotte #Council #Approves #Million #Renovation #Panthers #Stadium