CHARLOTTE, N.C. — A newly released timeline gives some expectation as to when the Charlotte Panthers and Charlotte FC could get a new stadium.
By the year 2046, a new stadium for the Carolina Panthers could open, according to a Charlotte city council agenda for Monday's upcoming meeting.
"On or before April 1, 2037, the City of Charlotte and [Tepper Sports] will commence good father negotiations regarding the design and construction of a new stadium to be located in the City of Charlotte," the document reads. The documents do not indicate where the stadium would be built.
This is the first time any date for a potential new stadium has been publicly seen. These dates were included within a larger agenda item which mostly addresses known renovations to the existing Bank of America stadium. Those renovations were first announced earlier this month.
The proposed dates seem anything but certain. Instead, they seem to indicate a proposed commitment for the David Tepper-owned teams to stay in Charlotte for the long term. Tepper has long said he wants a new stadium to house his professional sports teams, live concerts and other special events.
To put the proposed timeline in context: A baby born today would be old enough to buy an alcoholic drink on the opening day of the new stadium if the proposed timeline was met.
As part of the agreement to renovate the existing stadium and commit to future talks about a new stadium, the city of Charlotte and the Tepper-owned sports teams have agreed to a 20-year non-relocation term.
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 Panthers have played at the existing stadium since 1996.
"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 earlier this month when renovation plans were first announced. "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 renovation 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.
If and when a new stadium is built, new funding sources may be sought, according to the agenda for Monday's city council meeting. Like with the renovations, new construction may also utilize hospitality funds, which are paid through taxes on tourism in the city.
Bank of America Stadium renovation highlights
As previously reported, the renovated 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 of the renovation 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."
Reporting from WCNC's Hank Lee and Kayland Hagwood contributed to this report
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