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 Charlotte FC

Planning for the Future of Bank of America Stadium

June 3, 2024 - Major League Soccer (MLS)
Charlotte FC News Release


For nearly 30 years, Bank of America Stadium has been a place where Panthers fans, and more recently Charlotte FC fans and music lovers, have gathered to create unforgettable memories that will last a lifetime. Now, this decades-old venue needs to evolve to meet the needs for the future.

Tepper Sports & Entertainment and the City of Charlotte have proposed a partnership for a long-term agreement that would update Bank of America Stadium, keeping this important community asset in its prime Uptown location. This renovation will enhance the fan and player experience, modernize infrastructure, and continue to deliver world-class sports and entertainment to Charlotte and the region for years to come, all while driving billions in economic impact for the city.

"Bank of America Stadium has been a special place for our Panthers, and now Charlotte FC, fans for nearly 30 years," said Kristi Coleman, Carolina 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."

The City's investment does not require any new or increased taxes. It will be funded by existing hospitality and tourism tax resources, which are legally required by the state to be spent on projects to support the city's tourism economy. The restricted funds cannot be used for other city functions like transit, education, affordable housing or public safety.

"Our goal is to build a collaborative partnership so that this community asset can continue to generate unique and memorable experiences for fans, as well as economic impact for the city and region for years to come," said Coleman.

Highlights of the Renovation

Imagine entering the stadium through an inviting perimeter with a park-like setting and exterior video boards for watch parties and other viewing opportunities. Once inside, fans will experience the best in technology with a new state-of-the-art sound system, scoreboard, and video boards. They can enjoy exciting, unique social areas with skyline views, improved concessions with regional offerings, and an expanded Team Store to better accommodate Panthers and Charlotte FC fans. Arts and culture elements will be infused throughout the design to reflect the vibrant culture across the Carolinas.

Other important elements include:

Brand-new seats installed throughout the bowl.

Improved accessibility throughout the facility, designed and constructed in a way that allows individuals with a range of disabilities to have access without barriers.

Stadium safety and security enhancements, including illuminated wayfinding and improved lighting.

A reimagined South Lawn Pavilion area that can be used as a community gathering spot and outdoor classroom on game days and non-event days.

Upgraded restrooms throughout the stadium for better sustainability, accessibility and speed of service.

Enhancements to the stadium exterior to reaffirm its place as an iconic, beloved fixture of the Charlotte skyline.

A reduction of our impact on the environment and demand on city infrastructure through the modernization of the building systems, including mechanical, plumbing, electrical and HVAC.

"Bank of America Stadium provides our Club one of the best home pitch advantages in Major League Soccer," said Joe LaBue, Charlotte FC team president. "It also serves as a pillar of our community that supports our mission to be a unifying force in the city."

Details of the Proposed Partnership

The renovation would be an ongoing partnership between TSE and the City of Charlotte.

Total investment includes:

A fixed investment of $650 million from the City of Charlotte over the term of the deal.

A total investment of $688+ million by Tepper Sports & Entertainment, including $117 million that was invested prior to June 2024 and an estimated $571 million ($150 million towards the renovation plus potential overages, and an estimated $421 million for capital improvements over the term of the deal).

For the project, TSE will implement a minority-owned and small business enterprises strategy that aligns with Charlotte Business Inclusion program priorities and needs. Through the launch of a proactive campaign and recruitment events, TSE is committed to enriching the candidate pool while enhancing capacity and identifying target categories for apprenticeship programs.

Since 2018, TSE-related entities have contributed $44 million to nonprofits across the region, with $28 million in Charlotte and the surrounding area.

Importance of Bank of America Stadium as a Community Asset

Charlotte has become one of the fastest growing metropolitan areas in the country and a marquee destination for sports and entertainment events, many of which take place at Bank of America Stadium. The city has one of the oldest stadiums in the NFL and, at the same time, one of the most active buildings in the NFL and MLS. Since 2018, TSE has opened the stadium to create nearly year-round programming around the NFL schedule, with MLS and international soccer, stadium-filling concerts, NCAA and high school football as well as 100 corporate and community events.

Nearly 40 ticketed events are held at Bank of America Stadium each year, attracting visitors from across the region and around the world. In 2023, 9 of the 10 busiest days for Uptown occurred on days when there were events at Bank of America Stadium, with all Stadium events driving $1.1 billion in economic impact to Charlotte in 2023.

Next Steps

Members of the Charlotte City Council will be meeting over the course of the next several weeks to discuss the Bank of America Stadium renovation project.


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