Carolina Panthers owner David Tepper has broken his silence on the city of Charlotte voting on the renovations for Bank of America Stadium. On Monday, Tepper issued a statement after the Charlotte City Council voted to move forward with the proposed partnership with Tepper Sports & Entertainment to invest in the renovations that will cost $800 million.
“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,” Tepper said. “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.”
According to ESPN, Charlotte will pay $650 million toward the renovations, while Tepper will pay the remaining $150 million. With the agreement, Tepper will keep the team in Charlotte through 2045. He has already invested more than $117 million in stadium upgrades and also agreed to another estimated $421 million in potential overages for capital improvements.
Bank of America was opened by the Panthers in 1996 and is now considered one of the older stadiums in the NFL. When the proposed partnership was announced, some residents wanted Tepper to pay for all the upgrades since his net worth is around $20.6 billion.
What’s David Tepper’s plan for Bank of American Stadium?
The improvements slated for the stadium include upgraded video and audio systems, redesigned concourses, unique social areas with skyline views and a modernized infrastructure. There will also be new seating installed throughout the bowl of the stadium and the restrooms will be upgraded. The stadium renovations are expected to be completed by 2029.
One Panthers player who is happy with the move is wide receiver Adam Thielen who did not hold back his thoughts on the current facilities. “I think they’re behind a little bit as far as facilities,” Thielen told the Charlotte Observer. “We probably have the worst facilities in the NFL right now, and I don’t think there is anybody who would argue that. But at the end of the day, it doesn’t matter. You gotta go play football, and you gotta go win games.
“So it’s nice to hear that, the commitment to us as players and the coaching staff, ‘Hey, you guys are putting the work in, and we’re going to commit and provide you guys with better facilities and really give you the resources to go out there and win.’ So it’s exciting.”
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