As the Bank of America Stadium undergoes renovations funded by $650 million in public financing, the North Carolina Office of the State Auditor (OSA) has released an initial overview of expenditures.
As of August 2026, the City of Charlotte had authorized and funded about $3.1 million in project-related disbursements, including $632,000 for debt-financing costs and $2.5 million for construction.
As shown in the report, major spending areas include building structure and exterior; mechanical, electrical, and plumbing; construction management and coordination; site, landscape, and infrastructure; and professional, design, consulting, and testing.
“This initial review of the Bank of America Stadium project marks a shift at the Office of the State Auditor. We’re providing the public with ongoing transparency on stadium renovations, rather than stepping in late after the taxpayer-funded project is completed,” said State Auditor Dave Boliek. “By engaging with business leaders and local government on economic development projects, the State Auditor’s Office is able to show North Carolinians how public investment is being utilized.”
The report outlines the project’s financing structure, planned public and private investments, construction-payment process, expected public benefits, and planned oversight. Total renovation costs for Bank of America Stadium and related facilities are projected at $1.3 billion, with expected completion in 2030. Funding includes the $650 million in bonds, $150 million committed by Tepper Sports & Entertainment under its agreement with the City of Charlotte, and an additional $500 million investment announced by Tepper Sports & Entertainment.
This is the first in a series of reports. As financing activity and construction progress continue, additional reports are expected to provide independently reviewed information and oversight observations regarding amounts borrowed, amounts disbursed, project progress, significant changes, and oversight results. Together, the reports are intended to give the public a clear account of how the $650 million public contribution is being managed.