CHARLOTTE, N.C. — Tepper Sports & Entertainment announced plans for major renovations at Bank of America Stadium Monday, saying the decades-old venue "needs to evolve" to meet the organization's needs for the future.
The stadium serves as the home for the Carolina Panthers and Charlotte FC, hosting the Panthers since 1996. Monday's proposal means the teams will stay in Uptown Charlotte without having to find a temporary location for potential new stadium construction. Charlotte City Council will meet to discuss the stadium renovation project over the next several weeks, according to a Tepper Sports & Entertainment news release.
"Bank of America Stadium has been a special place for our Panthers, and now Charlotte FC, fans for nearly 30 years," Panthers Team President Kristi Coleman said. "While Bank of America Stadium has solid infrastructure, investments are needed to ensure that our decades-old venue continues to deliver the best experience for our players, fans, and community."
The proposed plan is part of an ongoing partnership between Tepper Sports & Entertainment and the city of Charlotte. The city would pay $650 million over the term of the deal while Tepper Sports pitches in $688 million, including $117 million that was invested before the announcement, plus an estimated $571 million. That $571 million would be comprised of $421 million for capital improvements and $150 million toward the renovation itself.
Bank of America Stadium renovation highlights
The stadium will have an "inviting perimeter" with a park-like setting and exterior video boards for watch parties and other viewing opportunities. Inside, fans will experience a state-of-the-art sound system, scoreboard and video boards, as well as enhanced social areas with improved concessions and an expanded team store for Panthers and Charlotte FC fans.
Other features include:
- New seats throughout the bowl
- Improved accessibility, designed for individuals with a range of disabilities to access without barriers
- Stadium safety and security enhancements, including better lighting and wayfinding
- A reimagined South Lawn pavilion that can be used on non-event days
- Upgraded restrooms throughout the stadium for better sustainability and speed of service
- Enhancements to the stadium's exterior
"Bank of America Stadium provides our Club one of the best home pitch advantages in Major League Soccer," Joe LaBue, Charlotte FC team president, said. "It also serves as a pillar of our community that supports our mission to be a unifying force in the city."
City Councilman Malcolm Graham chairs the Jobs and Economic Development committee where the proposal was laid out Monday. He said upgrades are needed.
"It’s well over 25 years old and it’s lacking in such basic amenities," Graham told WCNC Charlotte. "For example, it only has one freight entrance and when Beyoncé came to town and had a concert at the facility she had 80 freight trucks. So, there are major renovations that we have to do. I’m cautiously optimistic. I want to hear more from the public."
According to project leaders, the city's investment won't require any new or increased taxes. Instead, it will be funded by existing hospitality and tourism taxes legally required to be spent on tourism projects.
"We went to the General Assembly last year and got an increasing of the hospitality tax," Graham said. "It expires in 2060. So, we have the capacity to do it."
Rahiem Brooks lives in Davidson and is among those who say they'd rather see a winning season than an upgraded stadium.
"I don’t know," Brooks said. "The team doesn’t win enough games right now to warrant a $650 million budget allocation. Winning would definitely change the perspective."
Matt Wohlfarth of Dilworth Neighborhood Grille agrees.
"It does look great," Wohlfarth said. "Wins would be better though."
Charlotte City Council will continue discussions on the proposal over the next several weeks. They have published a webpage where information is being shared with the public.
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