What do you think about $650M Panthers stadium deal? How to tell Charlotte City Council
Charlotte’s debate over whether to contribute public money to Bank of America Stadium renovations could reach its climax Monday when the City Council hosts a public hearing on the proposal.
Tepper Sports & Entertainment, the ownership group led by David Tepper, unveiled its plan June 3 for the largest and most expensive renovation yet to the home of the Carolina Panthers and Charlotte FC. The plan calls for $650 million in city investment, which would come from hospitality tax revenue. It also includes a 20-year non-relocation agreement for both teams, which could be bought out after 15 years.
The City Council is expected to vote on stadium renovations June 24.
Charlotte initially didn’t plan a public hearing before the vote — meaning a public forum on the same day as the full council’s vote would’ve been the only chance for residents to speak directly to city leaders. But the city created Monday’s hearing after some council members said they needed to hear more public input.
The public hearing is 3-5 p.m. Monday at the Charlotte-Mecklenburg Government Center. People can sign up to speak on the city clerk’s page on the city’s website, charlottenc.gov, by clicking the “speak at a public council meeting” button to access an online form. Speakers must sign up with the city clerk’s office by 1 p.m. on the day of the meeting or in-person at the meeting.
People can call the City Clerk’s Office at 704-336-2248 or email cityclerk@charlottenc.gov.
Hundreds also submitted their thoughts on the plan through an online survey.
Both proponents and opponents of the proposal are rallying to get speakers at Monday’s hearing. Those in favor tout the economic impact of the stadium, while others question those numbers, whether the money could be better spent and the state of the Panthers organization.
Stadium plan supporters cite economic impacts
Charlotte’s business and tourism community quickly endorsed Tepper Sports’ pitch.
Dozens of high-profile business leaders gathered at the Charlotte Regional Business Alliance just two days after the renovation plan was unveiled to lobby for the proposal.
“Now is not the time to go scared to be a big league city,” said Johnny Harris, founder of the Quail Hollow Club and former CEO of the Lincoln Harris real estate firm, at the event. “We’re 20 years into it; we got 20 years to go. So what do we do? We up-fit the stadium and make it the kind of place we can all be proud of and enjoy and use for that 20-year period.”
Representatives from the banking and hospitality industries also spoke to council members Wednesday, saying the stadium boosts business in Charlotte.
The CLT Alliance also sent out “a call to action” Thursday encouraging people to sign up to speak in support of the plan.
“It is critical that the business community’s voice is heard on the importance of this transformational economic development investment to the future growth and prosperity of the Charlotte Region,” an email signed by the group’s interim President and CEO Andrea Smith said.
Do stadium renovations benefit local economy?
The business community and city staff cite a study saying the stadium has an annual economic impact of $1.1 billion, generates $54.3 in tax revenue annually in the metro area and creates 9,111 jobs “directly or indirectly.”
That study was commissioned by Tepper Sports.
The study, conducted by University of South Carolina professor Thomas Regan, measured direct spending on restaurants, retail and transportation as well as Tepper Sports’ spending, according to a summary provided to The Charlotte Observer. It also looked at “indirect economic impact,” including “subsequent rounds of employment” and “sales/expenditures attributable to direct spending.”
The study began in 2022 as Tepper Sports increased the number of events hosted at the stadium and expanded in 2023 once the group began exploring stadium renovations, a TSE spokesperson said.
Assistant City Manager Tracy Dodson, who ited the study in her presentations to the City Council, said she trusts the numbers because the researcher conducted economic impact studies for the city in the past related to sports venues.
Opponents of stadium project share concerns
Research, experts and people in the community opposed to the Panthers’ plan question the validity of claims that public investment. in the stadium will help the overall economy.
“We reject the notion that subsidizing professional sports venues is a sound economic investment for our community,” states a Change.org petition that had almost 500 signatures as of Friday morning.
The petition calls the plan “corporate welfare,” alleges the city’s handling of the pitch has been “undemocratic” and suggests public money could be better spent on other things.
Notably, the city is limited by law in what it can spend hospitality tax revenue on.
An Observer review of 456 responses submitted to the city’s online survey found the vast majority of respondents also opposed to the plan, many citing the same concerns as the petition.
Both petitioners and survey responses reference Tepper’s history of pulling out of projects. A Panthers plan to build a new practice facility and headquarters in Rock Hill fell apart in 2022, sparking lawsuits and attention from investigators. And Tepper pulled out of plans to build a youth academy and soccer fields at the old Eastland Mall site the same year. It took the city more than a year to nail down another plan for the property.
City Council member Dimple Ajmera brought up the same concern at a Monday council discussion of the proposal, calling it “the elephant in the room.”
“How do we ensure we are not left with something half-baked?” Ajmera asked Monday of the pitch for Charlotte to help with stadium renovations, adding she wants to see a more detailed payment schedule.
Organizers updated the Change.org petition shortly after the public hearing was announced to encourage opponents of the plan to sign up to speak Monday.
“We must ensure our voices are equally heard to show that many residents do not support this allocation of public funds,” the update said.
This story was originally published June 15, 2024 at 6:00 AM.
