Panthers Reveal Plans for Bank of America Stadium Renovations
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The Carolina Panthers revealed plans for renovations to Bank of America Stadium during a Monday afternoon announcement. These renovations, anticipated to commence in 2025 and potentially conclude in 2029, aim to modernize the decades-old venue to meet future demands.
According to WBTV, a spokesperson for the team emphasized the necessity for the stadium’s evolution, highlighting a proposed long-term agreement between Tepper Sports & Entertainment and the City of Charlotte to facilitate the upgrades. The envisioned enhancements encompass improving the fan and player experience, upgrading infrastructure, and ensuring the venue remains a hub for sports and entertainment in the years ahead.
Crucially, officials underscored that this substantial investment would not burden taxpayers with new or increased taxes. Instead, the project’s funding will be drawn from existing hospitality and tourism tax resources, mandated by the state for projects supporting the city’s tourism economy.
The overall investment by Tepper Sports & Entertainment is estimated to surpass $688 million, with an initial investment of $117 million by June 2024. Additionally, the City of Charlotte commits a fixed investment of $650 million over the duration of the agreement.
