City Council Votes In Favor Of $650 Million Bank Of America Stadium Renovation
Renovation money will come from the city's tourism and hospitality tax fund.
CHARLOTTE, N.C. — Monday night was a historic night for the future of Charlotte’s landscape. City Council voted 7-3 in favor of contributing $650 million to renovate Bank of America Stadium.
Carolina Panthers and Charlotte FC owner David Tepper will receive $650 million dollars from the city to help renovate the 28-year-old stadium. That money will come from the city’s tourism and hospitality tax fund. This ensures both teams stay in Charlotte for 20 years.
If Tepper gets cold feet within 15 years of that agreement, he would cover any remaining debts incurred by the city.
Renovations are expected to start next year and will be completed by 2029.
