Tepper Sports & Entertainment has added $500m to its Bank of America Stadium project, raising its own contribution from $150m to $650m
Bank of America and the Carolina Panthers have extended their naming-rights agreement for Bank of America Stadium, the companies announced on 23 July. Neither party disclosed the value or the length of the deal.
Tepper Sports & Entertainment (TSE) said it will increase its private investment to proceed with all optional projects presented to the City of Charlotte, taking the total renovation above $1.3bn. The city’s commitment remains fixed at $650m. TSE says it will fund all potential overages and ongoing maintenance obligations under the agreement.
The increase adds about $500m to a project originally budgeted at $800m when the city council approved its share in June 2024, Sports Business Journal reported. TSE’s own contribution rises from $150m to $650m, a significant uptick in expenditure.
“Over the years, Bank of America’s partnership with the Carolina Panthers has become one of the most enduring in professional sports,” said Brian Moynihan, Chair and CEO of Bank of America.
Panthers extend of the NFL’s longest-running naming-rights deals
Bank of America’s relationship with the Panthers dates to the franchise’s founding in the early 1990s, when former chief executive Hugh McColl helped secure the NFL expansion team for the Carolinas, the companies said.
The bank’s original 20-year naming-rights agreement, signed in 2004, was worth $7m a year, which preceded a Bank of America short-term extension in 2023 while renovation plans were being developed.
Bank of America Stadium is the bank’s only naming-rights property. The bank sponsors five NFL teams and holds partnerships with The Masters and the FIFA World Cup.
US Bank has begun its term as the NFL’s official bank at league level. Octagon, Bank of America’s agency of record, advised on elements of the deal.
Renderings show 4,400-capacity venue
TSE released renderings alongside the announcement showing the full scope of the works. The plans include a 4,400-capacity entertainment venue projected to host 80 to 100 events a year and to provide hospitality on NFL matchdays. The stadium currently hosts close to 50 ticketed events annually, TSE said.
Other elements include a 500-level social patio overlooking Uptown Charlotte, larger scoreboards and displays, upgraded seating and premium offerings, expanded retail and food-and-beverage outlets, increased restroom capacity, and flexible event space for corporate and community use.
The exterior will carry an illuminated crown, a reference to Charlotte’s ‘Queen City” name.
Every seat and the entire audio-visual system will be replaced, SBJ reported. HOK is the architect and the project is scheduled for completion in 2030.
TSE said many of the changes were informed by fan surveys, focus groups and online engagement.
Fan-facing work starts in 2027
Interior work is taking place in 2026, with fan-facing elements beginning in 2027. Construction is phased to allow the stadium to continue hosting Panthers games and Charlotte FC matches throughout, TSE said.
“The long-term extension with Bank of America reflects the strength of our partnership,” said David Tepper, Owner and Chairman of Tepper Sports & Entertainment.
The renovation is intended to support bids for the Super Bowl, the NFL draft and the 2031 FIFA Women’s World Cup, ESPN and the Associated Press reported.
Charlotte Mayor Rob Harrington said the stadium supports thousands of local jobs and described the work as an investment in the city’s future.
Bank of America Stadium opened in 1996 and is home to the Panthers and MLS side Charlotte FC. It hosted matches at Copa América 2024, including a semi-final.
