Official announcement from Charlotte City Council or media coverage

Charlotte City Council Approves $800M Bank of America Stadium Renovation with $650M Public Funds in 7-3 Vote

Jun 25, 2024, 11:21 PM

The Charlotte City Council has approved a significant $800 million renovation plan for the Bank of America Stadium, home to the Carolina Panthers and Charlotte Football Club. The council voted 7-3 in favor of the plan, which includes $650 million in public funds sourced from a city tourism tax and $150 million from Tepper Sports & Entertainment, which will also cover any cost overruns. The project aims to start in 2026, following a 10- to 12-month design phase, and will tie the Panthers to the city for the next 20 years. Despite some opposition from council members and the public regarding transparency and the high cost, the proposal was passed after a three-hour meeting where notable figures like former Panthers running back Jonathan Stewart spoke in favor of the renovations. Panthers owner David Tepper was a key proponent of the project.