The Charlotte City Council has approved a $650 million allocation of public funds for the renovation of Bank of America Stadium. The proposed upgrades, estimated to cost a total of $800 million, will be partially funded by David Tepper, owner of the Carolina Panthers NFL team who will contribute approximately 20%, or $150 million.
The planned renovations include enhancements to stadium facilities and concessions, as well as improvements to the sound system and video display boards. With a seating capacity for 75,000 spectators, this 28-year-old stadium is set for an impressive facelift.
Funding from the city’s portion will come from tax revenue specifically designated for tourism-related projects. Neither Mecklenburg County nor the state are involved in this funding plan.
A portion of these funds will also go towards constructing a new practice fieldhouse on twelve acres located on South Cedar Street adjacent to the stadium.
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