Charlotte City Council will change the ground lease for the Bank of America Stadium improvements so Tepper Sports and Entertainment can build an indoor performance venue.
The new terms provide the city with a contingency plan if, for some reason, the Carolina Panthers stop playing at the stadium in 20 years.
If that happens, Tepper Sports and Entertainment will pay the city $500,000 in rent, the city will get five free use days a year of the venue, and the city will get the rights to buy the performance venue’s land for $1.
VIDEO: Tepper Sports proposes 4,400-seat indoor venue in Uptown
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