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 workforce there for 20 years.
The renovation would come with a set $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 workforce 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 subsequent a number of weeks to debate the Financial institution of America Stadium renovation mission.
“Financial institution of America Stadium has been a particular place for our Panthers, and now Charlotte FC, followers for practically 30 years,” Panthers workforce 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 the very best expertise for our gamers, followers, and neighborhood.”
The town’s share can be funded by current hospitality and tourism tax assets, that are legally required by the state to be spent on tasks to assist town’s tourism economic system.
“This renovation is about modernizing the stadium to ship elevated experiences whereas preserving the general character and site that followers have recognized and beloved for many years,” Coleman mentioned.
Financial institution of America Stadium opened in 1996.
The enhancements will embrace upgraded video and audio methods, modernized infrastructure, redesigned concourses, distinctive social areas with skyline views, and exterior areas for neighborhood gatherings and programming.
Different essential components embrace new seating put in all through the bowl, improved accessibility all through the power, designed and constructed in a manner that enables people with a variety of disabilities to have entry with out obstacles. 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.
“Right this moment was a primary step in what might be a collection of conversations with public officers,” Coleman mentioned. “Our purpose 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 influence for town and area for years to come back.”
The stadium additionally serves as dwelling for Main League Soccer’s Charlotte FC and recurrently performs host to varsity soccer video games and live shows.
“Financial institution of America Stadium gives our Membership the most effective 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 drive within the metropolis.”
Reporting by The Related Press.
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