In a joint effort to enhance the iconic Bank of America Stadium, Panthers ownership and the city of Charlotte have unveiled a proposal for comprehensive renovations. The plan involves sharing the costs, with the city contributing $650 million and Panthers ownership investing at least $688 million.

Under the terms of the proposal, the city of Charlotte will utilize "existing hospitality and tourism tax resources" to contribute $650 million towards the stadium renovation. Meanwhile, Panthers ownership, which also owns the Charlotte FC soccer club, will inject a minimum of $688 million. This total includes $117 million that has already been spent on the stadium, an additional $150 million plus overages allocated for the renovation, and $421 million earmarked for capital improvements over the duration of the deal, which is set to run until 2045.

The collaborative partnership aims to ensure that Bank of America Stadium continues to generate unforgettable experiences for fans while making a significant economic impact on the city and the region for years to come, according to Panthers team president, Kristi Coleman.

The proposal will now enter further discussion, with members of Charlotte's city council planning to convene in the coming weeks for an in-depth review of the plan. Their input and approval will be crucial in determining the next steps towards implementing the ambitious renovation project.

If approved, the proposed renovations to Bank of America Stadium will undoubtedly bolster Charlotte's status as a sports and entertainment hub, attracting more visitors to the city and enhancing the overall fan experience for local residents and visitors alike.