CHARLOTTE (QUEEN CITY NEWS) – Charlotte city leaders will vote to approve renovations to Bank of America. The city portion will be $650 million of the $1.3 billion price tag.
Groundwork being laid for talks of new Charlotte stadium by 2046
In the agenda, there is also a line stating the city of Charlotte agrees to pay $15 million of the money to build a field house, which is expected to be completed by 2026.
The field house is just one of several improvements that will be made to and around Bank of America stadium. Construction on the field house is set to start in late 2024, or early 2025 and be finished by 2026, according to the Charlotte city council agenda.
Renovations at Bank of America Stadium are set to start in 2025 and be completed by 2029.
The money for the city portion will come from the hospitality tax, and it has drawn mixed reactions.
Business leaders in the city want the council to approve the deal, and according to comments received by the city, 60 percent of residents do not agree the tax dollars should be approved. Some say the renovations to the nearly 30-year-old stadium are needed to keep the team and venue competitive.
“I understand sports investments are complicated as it relates to investments in the spectrum Arena or Bank of America. I think we’re off to a good start, said District 2 Representative, Malcolm Graham. But I think there’s a lot more questions to be answered”
“The building was built with one purpose in mind,” added Carolina Panthers chief venue officer, Carolina Wright. “And so what are the things we need to do to modify some of our ground-level infrastructure, some of our back-of-house spaces, so we can be more productive when we bring in events of that order”
These are only improvements to the stadium. The agenda also shows that on or before April 1, 2037, the City of Charlotte and Tepper Sports and Entertainment will enter good faith negotiations about a new stadium to be built on city land, with the goal of the stadium opening by the 2046 season.