Panthers And City Of Charlotte Agree On New Funding Deal

The Panthers are safe in Charlotte for now and the future, as today the team and Mayor Anthony Foxx announced a tentative agreement Friday in which the city of Charlotte, N.C., will give the team $143.75 million from a food and beverage tax increase paid out over the next 15 years.

The team will have to stay in Charlotte during those 15 years, meaning the earliest anyone can talk about the team relocating is 2028.

The Panthers are looking for cash from the city and state for upgrades to Bank of America Stadium. The deal, if finalized, includes $62.5 million from the state.

The announcement came after a meeting between the Charlotte city council, Panthers owner Jerry Richardson and team officials on Friday.

“Our biggest problem is poaching,” Foxx said Thursday. “There are cities without teams who are building stadiums.”


Enjoyed this post?
Subscribe to Panthers Gab via RSS Feed or E-mail and receive daily news updates from us!

Submit to Digg  Stumble This Story  Share on Twitter  Post on Facebook  Post on MySpace  Add to del.icio.us  Bark It Up  Submit to Reddit  Fave on Technorati

Leave a Reply

Write For Us