NFL ownership approved a measure brought forth by Carolina Panthers owner David Tepper on Wednesday.
At the NFL owners meetings held in New York City, the 32-person voting body approved the Panthers’ new 20-year lease at Bank of America Stadium and the subsequent 20-year non-relocation agreement, a Tepper Sports and Entertainment spokesperson told The Charlotte Observer.
The spokesperson added that the voting on the company’s renovation plans — to upgrade the nearly 30-year-old Bank of America Stadium — did not take place, and that Wednesday’s vote was part of the “overall renovation process.” Bank of America Stadium is home to the NFL’s Carolina Panthers and the MLS’s Charlotte FC, both of which are owned by Tepper.
It is unclear what the vote count was at the time of publication.
Though expected, such a milestone is an important one for a proposal that includes significant investment from both Tepper Sports and Entertainment and Charlotte taxpayers. In June 2024, the Charlotte City Council agreed to terms of a deal that committed $650 million in public money to update Bank of America Stadium in Uptown — setting in motion one of the largest public expenditures in city history for a single project. The city council approved the deal in a 7-3 vote.
Construction has already begun toward fulfilling the renovation plan, after the first 15 months of the deal were mainly spent on working through required zoning and permits.
The construction includes the work that has begun right next to the Panthers’ practice fields, where a state-of-the-art field house will be built. Other upgrades expected to the stadium include but are not limited to: new seats installed throughout the upper and lower bowls; improved accessibility throughout the facility for people with disabilities; stadium safety and security enhancements; exterior enhancements; and a modernization of mechanical, plumbing, electrical and HVAC systems.
Renovations were initially set to be complete by 2029 but could reach into 2030, according to reporting from The Charlotte Business Journal.
The total city contribution will be capped at $650 million. The rest will come from Tepper Sports and Entertainment, to the tune of $150 million for immediate renovations and $421 million for anticipated future renovation costs over the term of the deal.
The Jacksonville Jaguars had their stadium renovation plan put to a vote last year at these NFL owners meetings. Their approval was unanimous.
What else has happened near Bank of America Stadium recently?
This is merely the latest construction news involving the massive venue on Mint Street.
Earlier this month, the city approved plans for a new music venue right next to Bank of America Stadium. The approval from city council was required because it needed to amend its ground lease agreement with Tepper Sports and Entertainment to include terms for a 4,400-seat indoor performance venue on about two acres adjacent to the stadium.
The project will be privately funded by Tepper Sports and won’t use tax dollars for construction or operation, The Observer previously reported. The city approved the proposal unanimously. City officials said that it would fill a void for mid-range venues with a capacity between 2,500 and 8,500 people — and would ideally host 80-100 shows a year.
What else happened at NFL owners meeting?
The vote on Bank of America Stadium was far from the only important news to come out of the NFL owners meetings this week.
Commissioner Roger Goodell announced Wednesday that the NFL was moving its Pro Bowl festivities to Super Bowl week beginning this February. The plan is to hold the Pro Bowl Games on Tuesday night, Feb. 3, which will still culminate in a flag football game between the AFC and NFC.
The NFL’s chief football administrative officer Dawn Aponte said there is “a heightened focus on playing surfaces overall” as the grass versus turf debate continues to ring on in the NFL and other outdoor professional sports leagues. Aponte, according to reporting from The Athletic, said the NFL’s studies have shown there is not a “significant difference” in injury rates on natural grass versus synthetic surfaces.
New York Jets owner Woody Johnson reasserted his faith in head coach Aaron Glenn on Tuesday in between owners meeting sessions. He instead blamed quarterback play for his team’s 0-7 start.