Carolina Panthers Want Funds for Stadium Renovations

2013 is a big year for the Carolina Panthers. They’ve got a new team of front office officials in charge of the team, and they’re hoping with the NFL free agency looming around the corner as well as the 2013 NFL Draft, that they will have many new faces on the team.

CHARLOTTE, NC – SEPTEMBER 18: A general view of the Carolina Panthers versus Green Bay Packers during their game at Bank of America Stadium on September 18, 2011 in Charlotte, North Carolina. (Photo by Streeter Lecka/Getty Images)

However, expect the Panthers to focus on rebuilding their team via the draft this year because they’re busy restructuring contracts in order to secure more funds that will help them renovate Bank of America Stadium.

Businesses and political figures in Charlotte and North Carolina all have agreed that they want to help the team. The team needs $300 million to renovate the stadium and upgrade other facilities.

However, all parties involved are beginning to grow in frustration on how to get that money to see that the upgrades are made.

According to the Charlotte Business Journal, “A proposal endorsed by the NFL franchise and the city calls for $144 million in city tax money, $96 million from the team and $63 million from the state. The city money would come from a 1 percent tax increase on restaurant meals, an increase the state restaurant lobby opposes.”

It isn’t uncommon to see NFL teams reach out to local government to receive assistance for their team and stadium. Hopefully the issues are resolved in time for Carolina to make the improvements in time for the pre-season.

Bank of America Stadium opened in September 14, 1996 as Ericsson Stadium.