Panthers announce plan to overhaul Bank of America Stadium: Charlotte would contribute $650 million ::

Panthers announce plan to overhaul Bank of America Stadium: Charlotte would contribute $650 million ::

The Carolina Panthers and Tepper Sports & Entertainment announced Monday plans for major renovations at Bank of America Stadium.

“This decades-old venue needs to evolve to meet the needs for the future,” a release stated on the team’s website.

“Bank of America Stadium has been a special place for our Panthers, and now Charlotte FC, fans for nearly 30 years,” Carolina Panthers Team President Kristi Coleman wrote in a news release. “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.”

According to the Panthers’ website, the team states that the city’s approximate $650 million investment does not require any new or increased taxes. It will be funded by existing hospitality and tourism tax resources, which are legally required by the state to be spent on projects to support the city’s tourism economy. The restricted funds cannot be used for other city functions like transit, education, affordable housing or public safety.

Tepper Sports is planing to pitch in about $688 million, including $117 million that was invested before Monday’s announcement. Tepper Sports is planning to spend $150 million for renovations and $421 million on future anticipated future renovation costs and capital improvements.

“Our goal is to build a collaborative partnership so that this community asset can continue to generate unique and memorable experiences for fans, as well as economic impact for the city and region for years to come,” Coleman said.

Highlights of the renovation include

  • Brand-new seats installed throughout the bowl.
  • Improved accessibility throughout the facility, designed and constructed in a way that allows individuals with a range of disabilities to have access without barriers.
  • Stadium safety and security enhancements, including illuminated wayfinding and improved lighting.
  • A reimagined South Lawn Pavilion area that can be used as a community gathering spot and outdoor classroom on game days and non-event days.
  • Upgraded restrooms throughout the stadium for better sustainability, accessibility and speed of service.
  • Enhancements to the stadium exterior to reaffirm its place as an iconic, beloved fixture of the Charlotte skyline.
  • A reduction of the impact on the environment and demand on city infrastructure through the modernization of the building systems, including mechanical, plumbing, electrical and HVAC.

“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.”

Carolina Panthers coach Dave Canales watches his team during OTAs on Monday, May 20, 2024.

The Charlotte City Council is expected to meet in the next several weeks to discuss the proposed Bank of America Renovation project.

It comes as city leaders try to sift through the Panthers’ plans to renovate their practice facility near Bank of America Stadium.

Bank of America Stadium has hosted the Panthers since 1996 and Charlotte FC since 2022.