Charlotte considering ways to fund renos at Bank of America Stadium

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North Carolina Construction News staff writer

Charlotte City Council is considering funding renovations at the Bank of America Stadium. events.

Bank of America Stadium, which opened in 1996, is one of the oldest stadiums in the National Football League (NFL) and has undergone several renovations since it opened.

Any money used to renovate the stadium would come from a special fund created by sales taxes for hotel rooms and prepared food and beverage (i.e. restaurants). The city is legally required to spend these funds on projects to support the tourism economy, which includes sports facilities renovations and maintenance.Tepper Sports & Entertainment has proposed a partnership with the city to update a long- Bank of America Stadium and modernize infrastructure.

“Bank of America Stadium has been a special place for our Panthers, and now Charlotte FC, fans for nearly 30 years,” said Kristi Coleman, Carolina Panthers team president. “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.”

Charlotte City Council will be discussing the renovation project over the next few weeks to decide how the project 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.

“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,” said Coleman.Highlights of the renovation:

  • perimeter with a park-like setting and exterior video boards for watch parties and other viewing
  • new sound system, scoreboard, and video boards
  • expanded Team Store

There will also be new seats installed throughout the bowl with improved accessibility throughout the facility, safety and security enhancements including illuminated wayfinding and improved lighting.

A reimagined South Lawn Pavilion area will be designed as a community gathering spot and outdoor classroom on game days and non-event days.

The renovations are expected to reduce the site’s environmental impact and decrease on city infrastructure by modernizing mechanical, plumbing, electrical and HVAC.

“Bank of America Stadium provides our Club one of the best home pitch advantages in Major League Soccer,” said Joe LaBue, Charlotte FC team president. “It also serves as a pillar of our community that supports our mission to be a unifying force in the city.”

A fixed investment of $650 million is needed from the City of Charlotte over the term of the deal, along with $688+ million from Tepper Sports & Entertainment, including $117 million that was invested prior to June 2024 and an estimated $571 million ($150 million towards the renovation plus potential overages, and an estimated $421 million for capital improvements over the term of the deal).

For the project, TSE will implement a minority-owned and small business enterprises strategy that aligns with Charlotte Business Inclusion program priorities and needs. Through the launch of a proactive campaign and recruitment events, TSE is committed to enriching the candidate pool while enhancing capacity and identifying target categories for apprenticeship programs.

1 COMMENT

  1. Why are they not building a retractable domed stadium? This leaves Charlotte behind other NFL cities and also takes them out of the running for the superbowl in my opinion. Keep the current stadium for soccer games and other events that can be held outside.

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