Mayor Vi Lyles | City of Charlotte website
Mayor Vi Lyles | City of Charlotte website
Charlotte City Council is considering allocating funds to renovate and update Bank of America Stadium. The council is also contemplating extending the lease of Tepper Sports & Entertainment (TSE), which owns the Carolina Panthers and Charlotte FC, and operates the stadium, including hosting concerts and other large-scale events.
Bank of America Stadium, which opened in 1996, is one of the oldest stadiums in the National Football League (NFL) and has undergone several renovations since its inception. Any money used for renovations would come from a special fund created by sales taxes on hotel rooms and prepared food and beverages. The city is legally required to spend these funds on projects that support the tourism economy, including sports facilities' renovations and maintenance.
At a Jobs & Economic Development Council Committee meeting on June 3, 2024, City of Charlotte staff presented a proposal to the committee, other council members, and the public. The proposal includes:
- $650 million city investment for facility improvements and modernization from 2025-2029.
- City funds capped at $650 million.
Additionally:
- $688 million TSE investment:
- $150 million for facility improvements and modernization plus cost overruns from 2025-2029.
- An estimated $421 million for capital improvements plus operations and maintenance through 2045.
- $117 million for facility improvements completed between 2018-2024.
The total stadium investment amounts to $1.3 billion from 2018 to 2045. This plan includes a 20-year non-relocation agreement for both the Carolina Panthers and Charlotte FC.
The presentation can be viewed on the city's YouTube channel, with materials provided at the meeting accessible online. A list of frequently asked questions is available below this summary. Additional materials will be posted as they become available. Feedback can be shared through a field at the bottom of this page; any information provided may be shared with Charlotte City Council and is subject to public records requests.
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