Bank of America Stadium renovation plan approved by city council with a $800 million budget on June 24

On June 24, the Charlotte City Council approved the renovation plans totaling $800 million for the Bank of America stadium, keeping the NFL team, the Carolina Panthers, home in Charlotte for another 20 years.

The city council’s vote, which passed 7-3 for the renovations, revealed the financial breakdown of the $800 million budget. The city of Charlotte will contribute $650 million, while Carolina Panthers owner David Tepper will cover the remaining $150 million.

According to an article by the Associated Press regarding the approved plan, the renovations are expected to be completed in 2029.

“Today’s vote by the Charlotte City Council is the culmination of many thoughtful discussions with city officials, local leaders and our fans to create a shared vision for the Bank of America Stadium,” said Tepper in a released statement.

According to the article, Tepper has already invested over $117 million in the stadium and its upgrades and has agreed to an additional $421 million for any additional capital improvements costs.

Charlotte’s investment is said to be funded by existing tourism and tax resources. The state requires these resources to be spent to reinforce the city’s tourism economy.

At the council meeting, numerous individuals spoke on behalf of the renovations in support of Charlotte, funding over half of the costs of the renovations.

“As a personal citizen, this is something I’m for. This seems like it is well thought out by the city. It seems like it’s well-supported and something you should vote for. I remember in 1996 when the stadium was built. It felt different; it had energy,” said Miller Yoho, director of communications and marketing at the Charlotte Sports Foundation.

Former Carolina Panther Jonathan Stewart also spoke at the council meeting to support the stadium renovations.

“The stadium renovations don’t just enhance fan and player experiences. They embody what the sport of football does for Charlotte. I know firsthand that Pantehrs unite people from all walks of life. Bringing them together in the spirit of sport,” said Stewart. “The fans deserve this, and the community also deserves this. The name Queen City isn’t just a title. It represents grace, strength and vision. As stewards of this city, we must uphold these qualities, leading with integrity, pursuing excellence and seizing opportunities to elevate our city.”

Claiming their space at the Bank of America Stadium in 1996, the Carolina Panthers home is considered one of the older stadiums in the league.

During the renovation period, the stadium will undergo numerous upgrades, including upgrades to the audio and visual systems, modernization of infrastructure, and addition of skyline views and spaces for community gatherings.

The current 72,000-seat stadium will also receive new seating options and accessibility improvements to accommodate fans with disabilities. The restrooms inside the stadium will also be renovated.

“For nearly 30 years, Charlotte has been home of the Carolina Panthers and, more recently, Charlotte FC. We are proud to be in the Carolinas and look forward to delivering a venue that meets the needs of our community, players and fans for years to come,” said Tepper.

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