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Charlotte, Panthers, Reach Agreement On Stadium

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(Photographer: Victor J. Blue/Bloomberg via Getty Images)

(Photographer: Victor J. Blue/Bloomberg via Getty Images)

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CHARLOTTE, N.C. (AP) — The city of Charlotte and the Carolina Panthers have reached agreement improvements of the team’s stadium.

The plan calls for the city to contribute about $87 million for renovations to Bank of America Stadium in exchange for a six-year deal to ensure that the Panthers stay in Charlotte.

That’s less than the team was seeking for improvements of the stadium the opened in 1996.

City Council is expected to vote on the agreement Monday.

The initial called for an improvement package that totaled $250 million. The city would have paid half of that, along with other money for stadium maintenance and traffic control costs. The state and the team would have paid for the rest of the project.

But state lawmakers rejected plans for tax changes to fund the project.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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