FIRST LOOK: Panthers unveil proposed renovations at Bank of America Stadium

CHARLOTTE, N.C. (WBTV) – The Carolina Panthers unveiled their proposed renovations at Bank of America Stadium on Monday afternoon.

A team spokesperson said they’re expected to begin in 2025 and could be finished in 2029.

The Panthers say the “decades-old venue needs to evolve to meet the needs for the future.”

According to a press release, Tepper Sports & Entertainment along with the City of Charlotte proposed a long-term agreement to upgrade the stadium.

The two believe the renovations would enhance fan and player experience, modernize infrastructure, and continue to deliver sports and entertainment for years to come.

“Bank of America Stadium has been a special place for our Panthers, and now Charlotte FC, fans for nearly 30 years,” said Kristi Coleman, Panthers team president. “While Bank of America Stadium has solid infrastructure, investments are needed to ensure that our decades-old venue continues to deliver the best experience for our players, fans, and community.”

Officials claim the investment will not require any new or increased taxes, as it would be funded by existing hospitality and tourism tax resources.

TSE’s total investment is slated to cost over $688 million, including $117 million invested before June 2024. A fixed investment of $650 million from the Charlotte is included over the deal term.

RELATED: Charlotte in talks to fund stadium project, but can they feasibly afford it?

The City of Charlotte’s ability to fund a stadium project was suspect until late last year. Multiple reports from the WBTV Investigates Team proved the city could only afford to contribute $250 million from its hospitality and tourism funds to help renovate the stadium.

In October 2023, the North Carolina General Assembly extended the 1 percent meals tax in Mecklenburg County to July 2060. It was previously set to sunset in 2031. Extending the meals tax allows the city to borrow more money immediately to help pay for the stadium improvements.

RELATED: Records show Charlotte lacks money for a new stadium