The Carolina Panthers and Charlotte have reached a deal to keep the team in the city for the next 15 years.
The terms of the deal require the city to pay $143.75 million from a food and beverage tax hike to fund the majority of the upgrades to Bank of America Stadium, according to the Charlotte Observer. The provisional agreement would include $62.5 from the state (not yet been finalized).
The money, which would be paid over a 15-year period, will require the Panthers to stay in Charlotte during that time.
Related VideosReturning Soon!!!!
- Charlotte City Council Endorses Carolina Panthers’ Plan to Fund Stadium Renovations
- Carolina Panthers’ Luke Kuechly Wins Defensive Rookie of Year
- Are Carolina Panthers’ Steve Smith, DeAngelo Williams on Trading Block?
Short URL: http://sport-ne.ws/psp