The Carolina Panthers are seeking a $650 million investment from the City of Charlotte to make improvements to Bank of America Stadium which has only seen minor enhancements since its doors opened in 1996.
Tepper Sports & Entertainment will be responsible for more than $688 million with $117 million already invested, according to the team. There is, however, hesitation with the City Council for a variety of reasons. This is a massive amount of money and with David Tepper being the second-richest owner in the NFL, it's difficult for many in the community to grasp why the city should have to commit to investing so much.
The optics of the fallout between Tepper and Rock Hill over the team's partially built headquarters/practice facility aren't great, but there is a lot more to it than we know and I believe both sides are to blame. The fact of the matter is, that failed project shouldn't factor into this decision-making for the proposed renovation for Bank of America Stadium. This is a matter of determining whether the money spent is worth it for the City of Charlotte. Are the upgrades going to bring in a significant return on investment? Plus, the city could use the money for a variety of other things to enhance the quality of life for Charlotteans.
The Panthers recently completed their contract to remain in Charlotte, meaning relocating the team would come at a much cheaper price. There is, however, no desire from ownership to move the organization out of Charlotte or out of the Carolina's for that matter. The new proposal will keep the franchise in Charlotte for the next 20 years with an opt-out option after 15 years (2039).
A small percentage of fans are concerned that if this proposal is not approved, Tepper Sports & Entertainment will threaten to relocate the Panthers. Unless something drastically changes, I don't foresee that happening. If anything, the proposal is more likely to be altered and the two sides agree to a different percentage of money invested.
So relax Panthers fans, you don't have anything to worry about.
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