CHARLOTTE, N.C. (QUEEN CITY NEWS) — During the discussion on whether to approve $650 million in tax dollars for a new-look Panthers stadium, things turned heated among Charlotte City Council members Monday night.
But after one council person picked up her bag, and another left the dais altogether, they voted 7-3 to approve Bank of America Stadium renovations. The project is expected to total $1.3 billion on the 28-year-old stadium, with the balance paid for by Tepper Sports and Entertainment.
As part of the approval, the two professional teams entered into a 20-year agreement that the Panthers and Charlotte FC would stay in the city for 20 years.
Dimple Ajmera, Tiawana Brown and Renee Johnson were the councilmembers who opposed the deal.
Before the vote, At-Large member Ajmera stressed that she had not received any of the information she had asked for from TSE. That includes a list of the costs of each item, nor the structure for which a contract would be written.
“There’s a $650 million proposal without all facts before me,” she said.“I just cannot do it.My conscience simply will not let me.”
Brown echoed her sentiments, and read through a handful of the nearly 700 pages of comments she’s either received or has seen made by the public regarding the stadium renovations. A survey earlier this month showed that 60 percent of respondents were against the project.
She also stressed that she has issues with past actions by the billionaire owner of the Panthers.
“It sounds real good until we getMr. Tepper angry again,” Brown said. “And then hemight throw something at City Council,” she said. “The behaviorof someone that’s asking us for $650 million is ridiculous.”
Other council member spoke after this, and said that it should be a vote for the future of the city, even in light of Tepper’s actions.
Reading off a prepared statement Bokhari said he is typically against stadiums being funding, in part, by taxpayer dollars; however, he felt this deal was among the best in the country.
“[The city] will recoup our $650 million entirely and be in a profitable situation starting in year 12,” Bokhari explained. “The team almost certainly would not be able to leave here … and if in an unlikely scenario they do leave, we will be able to recoup our entire investment. In addition to the [return on investment] from tax revenues.”
However, Mayfield appeared troubled by how to vote, despite her official “yes.”
Before the motion, she asked if the city attorney could assure her that the details presented by TSE in their agreement right now, would also be included in the contract.
The city attorney responded that there are times where small adjustments are made, but those would have to be ironed out in the future.
Council member Mayfield responded that it was not TSE who asked the city for trust for the proposal, it was city council members, and they would be left to answer for any future issues.
Tepper Sports provided the following statement following the City Council meeting:
“Today’s vote by the Charlotte City Council is the culmination of many thoughtful discussions with city officials, local leaders, and our fans to create a shared vision for Bank of America Stadium. Nicole and I are grateful for the collaboration and support of the project, as well as our ongoing partnership between Tepper Sports & Entertainment and the city.
“For nearly 30 years, Charlotte has been the home of the Carolina Panthers and, more recently, Charlotte FC. We are proud to be in the Carolinas and look forward to delivering a venue that meets the needs of our community, players, and fans for years to come.”
The city’s investment does not require any new or increased taxes. The $650 million will be funded by existing hospitality and tourism tax resources, which are legally required by the state to be spent on projects to support the city’s tourism economy.
Since Tepper purchased the Panthers in 2018, there’s been a significant increase in the number of events at Bank of America. Charlotte FC held its inaugural MLS season in 2019, and concerts have occurred more often there.
As part of the improvements, there are plans for new seating, improved accessibility throughout the stadium, safety and security enhancements, a reimagined South Lawn Pavilion area and restroom upgrades.Work is expected to begin in 2026.
With the approval, a contract will be ironed out and presented between July and October. In November, there will be a vote on the financials of the deal, and by March 2025, the funds can be delivered.
The upgrades received support from area business owners, while much of the negatively from the public has centered around public funds helping the wealthiest owner in the NFL, and the Panthers not having a winning season since Tepper arrived.
The move comes as construction is underway for a new Panthers practice facility around the corner from the stadium. After the upcoming season, the team will host training camp in uptown.
