A $144 million plan approved by the Charlotte City Council is aimed at keeping the Carolina Panthers for at least another 15 years.
The Charlotte Observer reports (http://bit.ly/1514lW9 ) that the bulk of the package approved in a 3-hour-long closed-door meeting Friday night would go toward upgrades at Bank of America Stadium, the uptown home of the team since 1996. Other money would go toward stadium maintenance and paying for traffic control on game days.
The new deal would help meet demands made by Panthers owner Jerry Richardson. In exchange for money, the team must agree to not leave Charlotte through the 2027 season.
Charlotte Mayor Anthony Foxx says the Panthers have been valuable for the region and have helped give residents a sense of unity.
CHARLOTTE, N.C. (AP) -- Charlotte's City Council has endorsed a plan to give the Carolina Panthers nearly $144 million from a food and beverage tax hike to pay for upgrades to its stadium. The tentative deal would require approval from the N.C. General Assembly for the city to increase its prepared food and beverage tax by one cent.