CHARLOTTE (QUEEN CITY NEWS) — Charlotte city council members are scheduled to discuss a proposed $1.3 billion renovation to Bank of America Stadium on Monday. They’ll hear from Inner Circle Sports, LLC regarding the feedback they’ve received about the project.
Inner Circle Sports, LLC describes itself as a boutique sports investment bank out of New York. They also offer stadium project advisory services.
The development at Bank of America Stadium would include new sound systems, video boards, seating, and social areas, as well as much-needed upgrades to safety, utilities, and accessibility.
About $650 million would come from the city’s tourism and hospitality tax fund. That fund can only be used for projects that boost Charlotte’s tourism economy, but project opponents say the public investment is too high.
“I understand sports investments are complicated as it relates to investments in Spectrum Arena or Bank of America. I think we’re off to a good start, but I think there’s more questions to be answered,” said city councilman Malcolm Graham.
The renovations are part of a larger plan that would keep the Panthers in Charlotte for the next 20 years.
On Wednesday, Charlotte’s jobs and economic development committee will meet to discuss the project even further, and city council could vote as soon as June 24.