Video: Panthers Unveil Renderings for Proposed Renovation of Bank of America Stadium

The Carolina Panthers have unveiled renderings for their proposed upgrades to Bank of America Stadium.

As part of the potential upgrades, the stadium's exterior would be overhauled to closely resemble a "park-like setting" that would be inviting for fans throughout the city of Charlotte, state-of-the-art audio and video technology, and new seats and redesigned concourses inside the stadium.

Jonathan Jones of CBS Sports noted the $1.3 billion cost of the upgrades would be split between public funding ($650 million) and Tepper Sports & Entertainment ($680 million), which also includes a 20-year tether to the city for the Panthers and Charlotte FC that both teams could get out of after 15 years.

City leaders first discussed the framework of proposed renovations at a Charlotte City Council session in January 2023. The Panthers had not officially asked for the city for funding at that point, nor had negotiations between the two sides started.

A senate bill approved by the North Carolina general assembly in October was one key step for the proposed Bank of America renovations. The bill included an extension of a tourism bill for the one percent tax on prepared food and drinks, which could be used to help fund the stadium renovations.

Per Joe Bruno of WSOC-TV 9 in Charlotte, Tepper Sports and Entertainment would invest $150 million during the construction phase, cover costs for any overruns and maintenance over the next 20 years that are estimated to cost $421 million.

Bruno noted the Charlotte City Council will go over the proposal on Monday afternoon and in a meeting scheduled for 6 p.m. local time, as well as during the council's action review meeting on June 10.

There will also be a website launched on Monday for local citizens to share their comments about the proposal. The city council is expected to formally vote on the project on June 24.

Bank of America Stadium opened in 1996 prior to the Panthers' second season in the NFL. It was most recently renovated in 2021 to prepare for Charlotte FC's inaugural season in 2022.

Tepper Sports and Entertainment is the holding company owned by David Tepper, who purchased the Panthers for $2.3 billion in July 2018. The 66-year-old has an estimated net worth of $20.6 billion.