Charlotte has spent $3.1M on its stadium district. Here's where
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Field house at the Panthers new practice facility. Rendering: Courtesy of Tepper Sports & Entertainment
The Carolina Panthers' new practice facility will be the first piece to come online as the corridor around Bank of America Stadium in Uptown evolves.
Why it matters: By 2030, the district will have key pieces: a renovated Bank of America Stadium, a new indoor music venue and a new practice facility. The practice facility near the stadium is scheduled to open in 2027.
Driving the news: The North Carolina Office of the State Auditor released its first in a planned series of reports on how the $650 million in public funding for stadium renovations will be used.
Go deeper: Read the full report here.
Catch up quick: In June 2024, Charlotte City Council approved $650 million in public funds for stadium renovations and a new practice facility.
- Funding comes from the city's hospitality and tourism tax, which legally must be used on projects that generate tourism dollars.
- Tepper Sports & Entertainment, which owns the Panthers and Charlotte FC, is funding the remainder of the $1.3 billion project.
- The deal also includes a non-relocation agreement through April 2046, per the State Auditor's office. TSE may terminate their lease as early as 2039-2040, but would be required to provide six to nine months notice and pay any remaining city debt pertaining to renovations.
By the numbers: As of August, the city of Charlotte has funded roughly $3.1 million of its committed $650 million, the report shows. Most of the funding, a little over $2.5 million, has gone toward constructing the team's new field house at their practice facility:
- $632,656 has been used for debt-financing, including $298,160 for legal services.
What's next: Both the Panthers and Charlotte FC will continue to play at Bank of America Stadium. The Panthers have also been practicing in Uptown during construction of their new facility.
- Fan-facing stadium renovations commence in 2027 with roughly 1,500 workers on site daily.
- The Panthers and Charlotte FC will continue to play at Bank of America Stadium during construction.
What we're watching: The goal is for these venue additions to propel Charlotte toward hosting major events, whether that be the NFL Draft, the 2031 FIFA Women's World Cup or, even one day, a Super Bowl.
Go deeper: Panthers tap Atrium Health for practice facility
- See renderings of Bank of America Stadium's $1.3B renovation
- The evolution of Bank of America Stadium