Charlotte Approves $650M in Public Funds Toward Panthers' Stadium Renovation

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The Charlotte City Council on Monday voted 7-3 to approve terms of a deal to spend $650 million in public funding on Bank of America stadium renovations.

As reported by The Charlotte Observer, Tepper Sports & Entertainment, which owns both the Panthers and Charlotte FC, presented the renovation plan to the City Council’s economic development committee June 3. Tepper Sports & Entertainment asked for $650 million from the city for Bank of America Stadium improvements and to help fund a new field house, agreeing to keep both the Panthers and Carolina FC in Charlotte for at least 20 years. (That agreement could be bought out after 15 years, however.)

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