Current:Home > BackPanthers, city seek $800M stadium renovation deal to keep team in Charlotte for 20 years-LoTradeCoin
Panthers, city seek $800M stadium renovation deal to keep team in Charlotte for 20 years
View Date:2025-01-14 12:30:38
CHARLOTTE, N.C. (AP) — The Carolina Panthers and the City of Charlotte have proposed a partnership deal that would include an $800 million renovation to Bank of America Stadium and keep the NFL team here for 20 years.
The renovation would include a fixed $650 million investment from the city and another $150 million from Panthers owner David Tepper.
Tepper has already invested more than $117 million in the stadium prior to June and would also pay another $421 million in potential overages for capital improvements over the term of the deal, the team said Monday in a news release.
The city’s investment does not require any new or increased taxes.
Charlotte City Council members are expected to meet over the next several weeks to discuss the Bank of America Stadium renovation project.
“Bank of America Stadium has been a special place for our Panthers, and now Charlotte FC, fans for nearly 30 years,” Panthers team president Kristi Coleman said in the release. “While Bank of America Stadium has solid infrastructure, investments are needed to ensure that our decades-old venue continues to deliver the best experience for our players, fans, and community.”
The city’s share would be funded by existing hospitality and tourism tax resources, which are legally required by the state to be spent on projects to support the city’s tourism economy.
“This renovation is about modernizing the stadium to deliver elevated experiences while preserving the overall character and location that fans have known and loved for decades,” Coleman said.
Bank of America Stadium opened in 1996.
The enhancements will include upgraded video and audio systems, modernized infrastructure, redesigned concourses, unique social areas with skyline views, and exterior spaces for community gatherings and programming.
Other important elements include new seating installed throughout the bowl, improved accessibility throughout the facility, designed and constructed in a way that allows individuals with a range of disabilities to have access without barriers. Restrooms would also be upgraded.
The south lawn pavilion area would be reimagined as a community gathering spot and outdoor classroom on game days and non-event days.
“Today was a first step in what will be a series of conversations with public officials,” Coleman said. “Our goal is to build a collaborative partnership so that this community asset can continue to generate unique and memorable experiences for fans, as well as economic impact for the city and region for years to come.”
The stadium also serves as home for Major League Soccer’s Charlotte FC and regularly plays host to college football games and concerts.
“Bank of America Stadium provides our Club one of the best home pitch advantages in Major League Soccer,” Charlotte FC president Joe LaBue said. “It also serves as a pillar of our community that supports our mission to be a unifying force in the city.”
___
AP NFL: https://apnews.com/hub/NFL
veryGood! (64194)
Related
- Amazon Best Books of 2024 revealed: Top 10 span genres but all 'make you feel deeply'
- A man convicted this month of killing his girlfriend has escaped from a Pennsylvania prison
- Dodge Charger SRT Hellcat is 60 times more likely to be stolen than any other 2020-22 vehicle
- Hurricane, shooting test DeSantis leadership as he trades the campaign trail for crisis management
- A pair of Trump officials have defended family separation and ramped-up deportations
- Alabama lawmaker’s assistant charged in scheme to misuse grant money
- Minnesota regulators vote to proceed with environmental review of disputed carbon capture pipeline
- 2 students stabbed at Florida high school in community cleaning up from Hurricane Idalia
- US Open finalist Taylor Fritz talks League of Legends, why he hated tennis and how he copied Sampras
- Hyundai and LG will invest an additional $2B into making batteries at Georgia electric vehicle plant
Ranking
- Man found dead in tanning bed at Indianapolis Planet Fitness; family wants stricter policies
- Influencer Ruby Franke’s Sisters Speak Out After She’s Arrested on Child Abuse Charges
- Friends Almost Re-Cast This Actress Over Lack of Chemistry With David Schwimmer
- ESPN networks go dark on Charter Spectrum cable systems on busy night for sports
- Groups seek a new hearing on a Mississippi mail-in ballot lawsuit
- Activists prepare for yearlong battle over Nebraska private school funding law
- UEFA Champions League draw: Group stage set for 2023-24 tournament
- It’s joy mixed with sorrow as Ukrainian children go back to school in the midst of war
Recommendation
-
Bohannan requests a recount in Iowa’s close congressional race as GOP wins control of House
-
Hawaii cultural figures lead statewide 'healing' vigil following deadly wildfires
-
Influencer Ruby Franke’s Sisters Speak Out After She’s Arrested on Child Abuse Charges
-
Stock market today: Asian shares trade mixed ahead of a key US jobs report
-
Disney Store's Black Friday Sale Just Started: Save an Extra 20% When You Shop Early
-
Food ads are in the crosshairs as Burger King, others face lawsuits for false advertising
-
Rifle slaying of a brown bear in Italy leaves 2 cubs motherless and is decried by locals, minister
-
ESPN goes dark for Spectrum cable subscribers amid Disney-Charter Communications dispute