• Loading stock data...
Friday, October 17, 2025

Charlotte Doles Out Over $700 Million In Upgrades for Pro Sports Teams

  • Approval for Bank of America Stadium comes months after the Hornets’ upgrades.
  • The deal essentially keeps the Panthers and Charlotte F.C. in town for 15 more years.
Dale Zanine-USA TODAY Sports

The Carolina Panthers have struggled for the last half-decade. Monday night, Charlotte local elected officials agreed to a deal to keep its NFL team in town for the next two decades.

The city council approved $650 million in renovations to Bank of America Stadium in a deal that keeps the Panthers and MLS team Charlotte FC in the city for the next 20 years. The lease extension allows David Tepper, who owns both franchises, to opt out after 15 years and, if he did, he would pay for any remaining debts incurred by the city. (The Panthers pay $1 in annual rent to the city to lease the land that the stadium sits on.) 

All in all, the city of Charlotte has committed nearly three-quarters of a billion dollars in facility improvements for three of its pro teams so far this year. The Panthers/Charlotte FC renovations are expected to start in 2025 and be completed by ’29. 

The city is essentially paying Tepper $43.3 million per year to keep the Panthers in town for the next 15 years, which stadium-tracking website Field of Schemes says is the most expensive such deal in sports history. The previous record was held by the Baltimore Ravens at $40 million per year

The upgrades include improved seating, restrooms, scoreboard, and videoboard, among other enhancements. The money is coming from the city’s tourism and hospitality tax fund. The deal had three dissenters on the city council, including Tiawana Brown, who referenced Tepper infamously throwing a drink at a fan last year.

“It sounds real good until we get Mr. Tepper angry and then he might throw something at the city council,” Brown said. “The behavior of someone asking for $650 million is ridiculous.”

Tepper, worth more than $20 billion according to Forbes, was fined $300,000 for the drink-throwing incident.

The approval comes months after the city green-lit a new practice facility for the Hornets in March in addition to renovations to the Spectrum Center, which are expected to be completed by 2026. The city of Charlotte will spend $30 million on the practice facility and $30 million toward the renovations on the arena.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Cignetti

Curt Cignetti Lands Third Contract In Just 19 Games With Indiana

Cignetti signed a new contract five days after Indiana upset Oregon.
Dave Checketts

Ex-Knicks President: When David Stern Accused Me of Skirting Cap

The Knicks walked away clean when accused of cap circumvention in the 1990s.
Oct 11, 2025; Los Angeles, California, USA; Michigan Wolverines wide receiver Semaj Morgan (0) makes a catch for a first down in the first half against the USC Trojans at United Airlines Field at the Los Angeles Memorial Coliseum.

Michigan Board Publicly Opposes Big Ten Investment Proposal

“The Big Ten does not need to be sold to save college sports.”
Aug 30, 2025; Columbus, Ohio, USA; Ohio State Buckeyes wide receiver Brandon Inniss (1) attempts to make a catch over Texas Longhorns defensive back Graceson Littleton (29) in the first half at Ohio Stadium.

SEC Games Help ABC Dominate College Football Ratings at Midseason

Texas–Ohio State on Fox remains the most-watched game of the season.

Featured Today

May 25, 2025; Indianapolis, Indiana, USA; Derek Jeter walks the red carpet on Sunday, May 25, 2025, ahead of the 109th running of the Indianapolis 500 at Indianapolis Motor Speedway

The Players’ Tribune Is Still Kicking 11 Years Later

Founder Derek Jeter is still closely involved in the publication.
Las Vegas Aces center A'ja Wilson (22) celebrates with her teammates after her last second shot to take the lead 90-88 against the Phoenix Mercury in Game 3 of the WNBA Finals at Mortgage Matchup Center in Phoenix on Oct. 8, 2025.
exclusive
October 10, 2025

Standoff Over WNBA’s Future Has Dominated Finals

CBA negotiations have stolen the spotlight from the Aces’ dominant performance.
Paul Cartier
October 5, 2025

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.

Steelers’ Shared Stadium With Pitt Comes Under Fire for Bad Turf

The conditions at Acrisure Stadium have been subpar this season.
October 13, 2025

Browns, Cleveland Reach $100M Deal to Clear Team’s Move to Suburbs

The surprise truce includes financial payments and the dismissal of lawsuits.
October 15, 2025

Bears Hit Another Speed Bump for New $5B Stadium in Suburbs

A new state bill would impose several conditions on the NFL team.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Nov 17, 2024; New Orleans, Louisiana, USA; Detailed view of a Cleveland Browns helmet on a time out against the New Orleans Saints during the first half at Caesars Superdome.
October 7, 2025

Cleveland Takes New Shot at Blocking Browns’ $2.4B Stadium

A new lawsuit challenges a permit for the NFL team’s planned stadium.
October 7, 2025

Rays Owner Eyes New ‘Forever Home’ Like Atlanta’s Battery

The club’s new owners target a new ballpark opening in 2029.
Sep 23, 2025; Dallas, Texas, USA; Dallas Stars forward Adam Erne (76) looks on during the game between the Dallas Stars and the Minnesota Wild at American Airlines Center
exclusive
October 3, 2025

Dallas Stars Eyeing Possible Move to Plano in 2031

The team needs to figure out where they’ll play starting in 2031.
Chicago Bears stadium rendering
October 1, 2025

Bears Want $855M in Public Money for Suburban Stadium

The NFL team details an updated ask for public money.