CHARLOTTE (QUEEN CITY NEWS) — The Queen City and the Panthers could see a new football stadium in time for the kick-off of the 2046 NFL season, according to the City of Charlotte.
On Monday the City of Charlotte will vote on a proposed $1.3 billion upgrade for the Carolina Panthers’ current home, Bank of America Stadium. $650 million of that money will come from the city, the rest from owner David Tepper.
On Friday, Queen City News learned that 15 million of the first part of the $650 million will go toward a new field house for the team.
Listed on the agenda for Monday’s meeting, a logistical breakdown is provided under Item 11: Bank of America Stadium Improvement Projects.
Also listed underneath this item, are provisions connected to a new stadium.
The item states that, “on or before April 1, 2037, the City of Charlotte and TSE will commence good faith negotiations regarding the design and construction of a new stadium to be located in the City of Charlotte that would be completed in time for the 2046 season. In furtherance of such good faith negotiations, the parties understand the need for potentially new funding sources. The parties will negotiate the use of hospitality funds for the purposes of studies and analysis regarding a new stadium.”
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Queen City News spoke with representatives for the city, who provided more context on this.
They said, quote, “This language does not establish that there will be a new stadium in 2046, but an acknowledgment that Bank of America Stadium will be 50 years old at the end of the current proposed agreement and that the two parties will need to address that. It is also a protective measure for the city that establishes the soonest the two parties would begin those discussions and creates a forecast and timeline for future city staff and ownership. A similar provision has been included in agreements with the Hornets related to the Spectrum Center renovations and is a common stipulation in-stadium/arena agreements.”
A study has shown that most NLF stadiums have a life span of roughly 30 to 50 years, which would mean Bank of America Stadium would be at the end of that cycle, even with renovations.
Tepper Sports & Entertainment would not comment on this provision.
If city council leaders decide to approve the renovations, it would come with a commitment that Charlotte FC and the Carolina Panthers would remain in Charlotte for the next 20 years.
That would mean future walks would happen around the time the stadium would be at the end of its expected life.
City sources stress this provision would lay the groundwork for future city council members and those associated with the Panthers at the time, to work toward another agreement for the team.
The vote will take place after 5 p.m. on Monday, June 24.
In past comments, Tepper has said that there are three pieces to the puzzle for a new stadium and that he will not foot the entire bill. A third would come from him, a third from taxpayers, and the rest from the city.
The current digs are dated, having been built in 1994, and Tepper has had to add luxury seats and several upgrades in order to accommodate his Major League Soccer team, Charlotte FC.
The stadium has also increased its visibility in the community, hosting several prominent college and high school football contests, international soccer including an upcoming event featuring Chelsea and Real Madrid, and major concerts like the Rolling Stones and Beyoncé.