Panthers, metropolis search $800M stadium renovation to maintain staff in Charlotte for 20 extra years

The Carolina Panthers and the Metropolis of Charlotte have proposed a partnership deal that would come with an $800 million renovation to Financial institution of America Stadium and maintain the NFL staff there for 20 years.

The renovation would come with a hard and fast $650 million funding from town and one other $150 million from Panthers proprietor David Tepper.

Tepper has already invested greater than $117 million within the stadium previous to June and would additionally pay one other $421 million in potential overages for capital enhancements over the time period of the deal, the staff mentioned Monday in a information launch.

The town’s funding doesn’t require any new or elevated taxes.

Charlotte Metropolis Council members are anticipated to satisfy over the following a number of weeks to debate the Financial institution of America Stadium renovation undertaking.

“Financial institution of America Stadium has been a particular place for our Panthers, and now Charlotte FC, followers for practically 30 years,” Panthers staff president Kristi Coleman mentioned within the launch. “Whereas Financial institution of America Stadium has stable infrastructure, investments are wanted to make sure that our decades-old venue continues to ship one of the best expertise for our gamers, followers, and neighborhood.”

The town’s share can be funded by current hospitality and tourism tax sources, that are legally required by the state to be spent on tasks to assist town’s tourism financial system.

“This renovation is about modernizing the stadium to ship elevated experiences whereas preserving the general character and placement that followers have identified and liked for many years,” Coleman mentioned.

Financial institution of America Stadium opened in 1996.

The enhancements will embody upgraded video and audio techniques, modernized infrastructure, redesigned concourses, distinctive social areas with skyline views, and exterior areas for neighborhood gatherings and programming.

Different necessary components embody new seating put in all through the bowl, improved accessibility all through the power, designed and constructed in a means that enables people with a spread of disabilities to have entry with out boundaries. Restrooms would even be upgraded.

The south garden pavilion space can be reimagined as a neighborhood gathering spot and out of doors classroom on recreation days and non-event days.

“In the present day was a primary step in what will likely be a collection of conversations with public officers,” Coleman mentioned. “Our aim is to construct a collaborative partnership in order that this neighborhood asset can proceed to generate distinctive and memorable experiences for followers, in addition to financial impression for town and area for years to return.”

The stadium additionally serves as dwelling for Main League Soccer’s Charlotte FC and usually performs host to school soccer video games and live shows.

“Financial institution of America Stadium gives our Membership among the best dwelling pitch benefits in Main League Soccer,” Charlotte FC president Joe LaBue mentioned. “It additionally serves as a pillar of our neighborhood that helps our mission to be a unifying power within the metropolis.”

Reporting by The Related Press.