Panthers' Tepper invests another $500M into stadium renovation

CHARLOTTE, N.C. --Carolina Panthers owner David Tepper is investing an additional $500 million into ongoing stadium renovations to improve overall fan experience with an eye toward bringing the Super Bowl, NFL draft, 2031 Women's World Cup and other major sporting events to Charlotte, North Carolina.

The investment coincides with the team announcing it has reached a long-term extension on a stadium naming rights deal Thursday with Bank of America.

The additional investment in the 30-year-old downtown stadium brings the total cost of renovations to $1.3 billion.

The project is expected to be completed by 2030.

The Panthers released new stadium renderings highlighting enhancements and a broader vision of what is referred to as the new "Charlotte corridor," which includes a 4,400-seat music venue designed to help make the city a more attractive year-round weekend destination.

"The long-term extension with Bank of America reflects the strength of our partnership and our shared commitment to the Carolinas," Tepper, the owner and chairman of Tepper Sports & Entertainment (TSE), said in a release. "For over three decades, Bank of America Stadium has helped create lasting memories for our fans and we're excited for them to see what's ahead. Our goal is to create experiences that enhance the passion and energy of the region while transforming this corridor into a weekend destination for world-class sports, entertainment and community events."

Bank of America Stadium is home to Major League Soccer's Charlotte FC as well as the Panthers.

It regularly hosts concerts as well as the Atlantic Coast Conference football championship, the Duke's Mayo Bowl, and, most recently, a soccer match between the United States and Senegal that served as a precursor to the World Cup.

The additional renovations are privately funded with no additional taxpayer money required.

TSE will pay for any overage costs and ongoing maintenance associated with the project.

The city of Charlotte originally contributed $650 million to the project in 2024, with TSE adding $150 million, bringing the original cost of stadium renovations to $800 million after Tepper decided to remain in the stadium rather than build a new one.

Renderings released Thursday showcase expanded indoor-outdoor gathering spaces across all levels and a social patio with sweeping views of Uptown Charlotte at the 500 level. There will also be larger and more dynamic scoreboards and displays and improved audio.

Seating options have been upgraded, with premium offerings including technology designed to create a more connected and personalized experience.

When finished, the entire exterior of the stadium will look completely different, with a fresh, modern, open-air look that includes a signature illuminated crown for the Queen City skyline.

The black metal gates that surround portions of the stadium will be removed, creating a more welcoming park-style setting.

The renderings also include expanded retail and food and beverage options, increased restroom capacity, and flexible event spaces that will support game days while serving community, corporate and other special events during the offseason.

Included in what Panthers officials now call the "corridor" is the new entertainment venue outside of the north gate.

Panthers president and TSE CEO Kristi Coleman said the goal of everyone involved has been to bring Tepper's vision to life.

Over the past few years, the Panthers have brought some of the team's fans to opposing cities to see what they like about other stadiums. They have also listened to suggestions and criticisms from existing permanent seat license holders about the game-day experience in Charlotte.

"Our fans from Raleigh or Charleston and other places would say, 'We want this to be a weekend destination, not just for Sundays,'" Coleman said.

The need for music was high on the fans' wish list, Coleman said.

Such was the impetus for the building of the entertainment venue that will host 80 to 100 concerts and events during the year, as well as provide enhanced hospitality on NFL game days.

"So now people can come on a Friday and go to a concert, go to a soccer match on Saturday and then stay for a Panthers game on Sunday," Coleman said. "That was really the vision."

Coleman said the renovations have something everyone throughout the stadium can benefit from whether sitting in the lower bowl, upper bowl or luxury suites.

"I'm so excited that every fan will experience something different," Coleman said.

Charlotte Mayor Rob Harrington called the project an investment in Charlotte's future "preserving an iconic venue, enhancing the fan experience, and ensuring Bank of America Stadium continues to create unforgettable memories while giving visitors countless reasons to return to our city for years to come."