Menu
Facilities

NFL Panthers, City Of Charlotte Reach Deal For Scaled-Back Renovations

The city of Charlotte and the NFL Panthers have reached a deal in which the city would contribute $87.5M for "scaled-back renovations to Bank of America Stadium in exchange for a six-year 'hard tether' to keep the team in Charlotte," according to a front-page piece by Steve Harrison of the CHARLOTTE OBSERVER. The City Council is expected to "approve the proposal Monday night." The agreement also has what the city has "characterized as a four-year 'soft tether' after that." In those four years, the team has "agreed to stay in the city, though it would be relatively easy for the Panthers to move in years 7 through 10 of the deal." The "short length of the firm commitment to Charlotte could mean the City Council will negotiate with the team again, as soon as after the 2016 season, when Bank of America Stadium will be 23 years old." Panthers President Danny Morrison said that it would be "'premature' to speculate on whether the team would consider a new stadium at that point." Harrison notes the team's initial proposal called for a $250M stadium renovation which would have seen the city contribute $125M. Under that deal, the state "would have paid" $62.5M, and the Panthers "would have spent" $62.5M for stadium improvements and $15M for maintenance. For that, the Panthers "would have been bound to Charlotte for 15 years." But that was rejected by legislators. A "number of projects won't move forward because the team has less money than planned." Among the cuts are $29M for "club seats and suite improvements," $30M for a new practice facility and $16M for "larger entry gates, a larger ticket office and a new team store." Morrison did say that the "scaled-back renovations would make Bank of America Stadium equipped to host a Super Bowl" (CHARLOTTE OBSERVER, 4/19).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2013/04/19/Facilities/NFL-Panthers.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2013/04/19/Facilities/NFL-Panthers.aspx

CLOSE