Bank of America and the Carolina Panthers have extended their naming-rights partnership for Bank of America Stadium, as the venue’s renovation project expands beyond $1.3bn.
Neither party disclosed the financial terms or length of the renewed agreement.
The extension comes as Tepper Sports & Entertainment (TSE) announced an additional $500m in private investment for the stadium project. The company’s contribution will rise from $150m to $650m, while the City of Charlotte’s commitment will remain fixed at $650m.
TSE will also cover any potential cost overruns and ongoing maintenance obligations under the agreement.
Project budget rises from $800m to more than $1.3bn
Charlotte City Council approved the city’s contribution to the stadium project in June 2024, when the total renovation was initially budgeted at around $800m.
The expanded project will now include the full range of optional upgrades presented to the city.
Bank of America’s relationship with the Panthers dates back to the franchise’s foundation in the early 1990s. The bank signed its original 20-year naming-rights agreement in 2004 in a deal reportedly worth $7m per year.
The two sides later agreed to a short-term extension in 2023 while plans for the renovation were being developed.
New 4,400-capacity entertainment venue planned
The renovation will include a new 4,400-capacity entertainment venue expected to host between 80 and 100 events per year, while also providing hospitality services on NFL matchdays.
Other upgrades include a new social patio overlooking Uptown Charlotte, larger scoreboards and video displays, upgraded seating, expanded premium hospitality areas, additional retail and food-and-beverage outlets, increased restroom capacity and flexible event space for corporate and community use.
The stadium’s exterior will also feature an illuminated crown, referencing Charlotte’s “Queen City” nickname.
Every seat and the entire audio-visual system are expected to be replaced. HOK is serving as the architect, with the project scheduled for completion in 2030.
Renovation designed to attract major events
The project is also expected to strengthen Bank of America Stadium’s chances of hosting major events, including the Super Bowl, the NFL Draft and the 2031 FIFA Women’s World Cup.
Interior construction is taking place in 2026, while fan-facing upgrades are scheduled to begin in 2027. The work will be phased to allow the Carolina Panthers and MLS side Charlotte FC to continue playing their home fixtures at the stadium throughout the renovation.
Opened in 1996, Bank of America Stadium is home to the Panthers and Charlotte FC. The venue also hosted matches during the 2024 Copa América.