Panthers, David Tepper Get Approval for $650M Renovations to Bank of America Stadium
June 25, 2024
The home of the Carolina Panthers will be seeing an overhaul soon.
Per Alex Zietlow of the Charlotte Observer, the Charlotte City Council approved a $650 million renovation plan for Bank of America Stadium on Monday by a vote of 7-3. Panthers owner David Tepper reacted to the news with a statement saying he's "proud" to remain in Charlotte for the foreseeable future:
Per ESPN, the approval of the stadium renovation comes with an agreement that the Panthers will stay in Charlotte through 2045. Tepper, who has already invested $117 million in stadium upgrades, will make a payment of $150 million upfront to complete the cost of the plan. He also agreed to pay another $421 million in potential overages.
Earlier this month, the Panthers gave fans a first look at renderings for their proposed upgrades to Bank of America Stadium:
Carolina Panthers @PanthersThis is our home. This is our future. Welcome to the Crown Jewel of the Queen City. <br><br>We are excited to unveil a first look at the proposed renovation of Bank of America Stadium.<a href="https://twitter.com/hashtag/KeepPounding?src=hash&ref_src=twsrc%5Etfw">#KeepPounding</a> <a href="https://t.co/n1JfPUK0QA">pic.twitter.com/n1JfPUK0QA</a>
The upcoming renovations include upgraded video and audio systems, new seats, redesigned concourses and modernized infrastructure. The stadium's exterior will be redone into a community gathering spot. There will also be improved accessibility throughout the stadium to allow individuals with disabilities to have access without obstacles.
The Panthers have called Bank of America Stadium their home since 1996, their second season as an NFL franchise. The stadium's most recent renovation came in 2021 in preparation for Charlotte FC's inaugural season the following year.
The Panthers have struggled since Tepper purchased the team in 2018 and are coming off a 2-15 finish to the 2023 season. Tepper has hired six head coaches in his tenure and the team has a combined record of 31-68 under his leadership. Carolina fans will certainly be hoping to have something to cheer for by the time the new stadium renovations are put in place.