Panthers ownership and the city of Charlotte unveiled a proposal for renovations to Bank of America Stadium on Monday.
Under the terms of the proposal, Tepper Sports & Entertainment and the City of Charlotte would share the costs of the work. The city would pay $650 million through “existing hospitality and tourism tax resources” while Panthers ownership, which also owns the Charlotte FC soccer club, would invest at least $688 million. That figure includes $117 million that has already been spent on the stadium, $150 million plus overages toward the renovation, and $421 million in capital improvements over the term of a deal that is set to run through 2045.
“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,” Panthers team president Kristi Coleman said in a statement.
According to the release from the team, members of Charlotte’s city council will be meeting in the coming weeks for further discussion of the plan.
