Why Are Shelf Lives So Short for Sports Stadiums?

CHARLOTTE, NC — The Panthers are for sale, and speculation is that new ownership may want a brand new, billion dollar stadium, like the one just down the road in Atlanta.

But “Bank of America is only 21 years old” you say! That’s getting up there in the current life expectancy of an NFL stadium.

“It’s a big investment, you know,” says Charlotte Knights’ Chief Operating Officer Dan Rajkowski. “And you’ve got to get a lot of people on board to do these things, and they’re expensive.”

The National Football League is in the midst of a building boom. 16 new stadiums in the last 17 years.

The average age of the replaced stadiums is around 30 years. Used to be sports stadiums would be pushing 50 before the wrecking ball came calling.

The Charlotte Knights know all too well the cost of building a new stadium, moving to Uptown in 2014.

“What they’re doing is analyzing a facility after 15, 18, 20 years, and saying does it make sense to relocate this as our city or county has changed?” says Rajkowski. “What are the amenities that are current? And often times they make a decision that it’s probably better to build a new one.”

So why are stadiums living such short lives?

The answer makes cents and dollars; lots of them. New stadiums maximize revenue in ways old ones never did.

“You’re understanding what your fans want,” says Rajkowski. “We’re in a different, millennial generation, and a lot of them are coming to the ball parks.”

The Panthers share most of their revenue, including ticket sales and broadcast rights. But most of the other money made in a stadium, from luxury boxes, advertising and concessions, the team keeps.

Bank of America Stadium was completed in 1996. And while it still looks good today, how much longer will it be viable?

A shiny new stadium, with wider concourses, high-end restaurants, Wi-Fi networks and huge TV screens, can mean higher prices for fans. But it’s what you have to do if you want to keep up with the Joneses; literally!

A 20-year old stadium just doesn’t cut it anymore.

Bank of America Stadium has been through five expansions, and recently completed a four-year renovations project, with partial tax-payer funding from the city, that keeps the team in Charlotte through the 2019 season