The Carolina Panthers and the city of Charlotte have announced a US$800 million public-private partnership agreement to renovate Bank of America Stadium and keep the team in its current market for the next 20 years.
The renovations would include a fixed investment of $650 million from the city as well as an additional $150 million from Panthers owner David Tepper.
Tepper has already invested more than $117 million in the stadium before June, and it would also pay an additional $421 million to cover potential cost overruns on renovations over the life of the agreement, the team said Monday via communication channel.
The City’s investment will not require a tax increase or new tax.
The Charlotte City Council is scheduled to meet in a few weeks to discuss the Bank of America Stadium renovation project.
Bank of America Stadium officially opened in 1996.
Among the improvements that would be made to the stadium are the installation of new scoreboards and a state-of-the-art sound system, new modern infrastructure, more attractive passageways, terraces with panoramic views of the city as well as outdoor spaces favoring the holding of festivals and other events.
This stadium is also the home of Major League Soccer’s Charlotte FC and regularly hosts American college football matches and concerts.
2024-06-03 12:42:00
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