Panthers News: Charlotte Makes Decision Regarding Future of Team’s Stadium

Funding renovations to professional sports venues is never easy. At least, that’s how the venues’ stewards usually present the case to the public when asking for tax money to generate revenue for renovations that they claim to be a matter of necessity. The Kansas City Chiefs became a political football after Jackson County recently denied a tax proposal that would have led to renovations for Arrowhead Stadium.

Read more: Chiefs’ Threats to Move Team Gain Leverage As Stadium Renovations Await

They aren’t the only team involved in this situation. The Charlotte City Council just took a vote on whether or not the Carolina Panthers’ home, Bank of America Stadium, would be the recipient of public money:

Monday night, Charlotte ruled 7-3 in favor of a proposal that would keep the Panthers at Bank of America for the next 20 years. According to ESPN, “Under the policy document, the city will pay $650 million toward the renovation of Bank of America Stadium in return for Panthers owner David Tepper keeping the team in Charlotte through 2045. Tepper will pay the remaining $150 million up front.”

Tepper issued a statement on the agreement, stating, “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,” Tepper added.

Carolina averaged 71,635 at its eight home games last season, sixth in the NFL. There isn’t much more room to pack the venue to capacity, listed at 74,867, but in theory the renovations will make it more hospitable. Bank of America Stadium is also home to Charlotte FC, which Tepper also owns. They rank second in MLS in attendance at 33,162.

The Panthers arrived in the NFL in 1995 as an expansion team under founder and then-owner Jerry Richardson. After going 7-9 in the team’s first season, the Panthers would surprise the league by going 12-4 and facing the Green Bay Packers in the NFC Conference Championship in 1996.

Green Bay won the game handily and it took seven seasons for the Panthers to return to the playoffs. They would compete for the team’s first Super Bowl title in the 2003 season but were edged out by Tom Brady and the New England Patriots.

The Panthers have only appeared in two Super Bowls in franchise history: the 2003 season and 2015 season, when they were also beaten by the Denver Broncos.

With a new agreement in place to keep the Panthers in Charlotte for the next 20 seasons, the hope is they can shake off their regular season woes and challenge the NFC for another chance at a Super Bowl title.