Financing renovations to professional sports facilities is never easy. At least, that’s how venue managers typically present the case to the public when they ask for tax money to generate revenue for renovations they say are a matter of necessity. The Kansas City Chiefs became a political football after Jackson County recently rejected a tax proposal that would have led to renovations to Arrowhead Stadium.
They are not the only team involved in this situation. The Charlotte City Council just voted on whether or not the home of the Carolina Panthers, Bank of America Stadium, would receive public money:
On Monday night, Charlotte ruled 7-3 in favor of a proposal that would keep the Panthers at Bank of America for the next 20 years. According to KeynoteUSA, “According to the policy document, the city will pay $650 million to renovate Bank of America Stadium in exchange for Panthers owner David Tepper keeping the team in Charlotte through 2045. Tepper will pay the $150 million. million dollars left up front.
CHARLOTTE, NORTH CAROLINA – MAY 4: A Charlotte FC scarf hangs from a panther statue outside Bank of America Stadium before the Portland Timbers take on Charlotte FC on May 4, 2024… CHARLOTTE, CAROLINA NORTH – MAY 4: A Charlotte FC scarf hangs from a panther statue outside Bank of America Stadium before the Portland Timbers face Charlotte FC on May 4, 2024 in Charlotte, North Carolina. Charlotte voted on renovations that will keep the Carolina Panthers at Bank of America Stadium. More Isaías Vázquez//Keynote USA/Getty Images
Tepper released a statement on the deal, stating: “Today’s vote by the Charlotte City Council is the culmination of many thoughtful discussions with city officials, local leaders and our fans to create a shared vision for Bank of America Stadium. “America. Nicole and I are grateful for the collaboration and support of the project, as well as our continued partnership between Tepper Sports & Entertainment and the city.”
“For almost 30 years, Charlotte has been the home of the Carolina Panthers and, more recently, Charlotte FC. We are proud to be in the Carolinas and look forward to offering a venue that meets the needs of our community, players and fans. years to come,” Tepper added.
Carolina averaged 71.635 in its eight home games last season, sixth in the NFL. There’s not much more room to fill the place to capacity, with a total of 74,867 people, but in theory the renovations will make it more hospitable. Bank of America Stadium is also home to Charlotte FC, which Tepper also owns. They rank second in the MLS with 33,162 attendees.
The Panthers came to the NFL in 1995 as an expansion team under founder and then-owner Jerry Richardson. After finishing 7-9 in the team’s first season, the Panthers would surprise the league by finishing 12-4 and facing the Green Bay Packers in the NFC Conference Championship in 1996.
Green Bay won the game handily and it took the Panthers seven seasons to return to the playoffs. They would compete for the team’s first Super Bowl title in the 2003 season, but were surpassed by Tom Brady and the New England Patriots.
The Panthers have only appeared in two Super Bowls in franchise history: the 2003 season and the 2015 season, when they were also defeated by the Denver Broncos.
With a new deal in place to keep the Panthers in Charlotte for the next 20 seasons, the hope is that they can shake off their regular season woes and challenge the NFC for another shot at a Super Bowl title.
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