The city of Charlotte has approved a $650 million municipal bond issuance to help finance renovations at Bank of America Stadium, home of the Carolina Panthers.
The funding represents roughly half of the $1.3 billion total cost required to modernize the stadium to current NFL standards. The plan was unanimously approved by North Carolina’s Local Government Commission, chaired by State Treasurer Bradford Briner.
The financing structure relies on existing tax revenues generated from the hotel and tourism sectors. City officials aim to cover Charlotte’s share of the project through these sources by 2029, avoiding the need for new taxes.
The renovation is part of a public-private partnership with Tepper Sports & Entertainment, which owns the Panthers. The organization has committed approximately $150 million toward the project, contributing to a broader private investment package totaling around $688 million.
As part of the agreement, both the Carolina Panthers and Charlotte FC—which also plays at the stadium—will remain in the city for at least 20 more years under a non-relocation clause.
State officials emphasized the scale of the investment, noting that while public funding for sports infrastructure is not uncommon, the size of this project is significant for North Carolina. Oversight mechanisms will be in place to monitor how the funds are used.
The Panthers’ renovation plan is part of a broader trend across U.S. sports, where teams are investing heavily in stadium upgrades and new facilities. Similar projects include Washington, D.C.’s recently approved $3.7 billion plan for a new stadium for the Washington Commanders.