We express our strong opposition to the proposed $650 million in public funding for renovations of Bank of America Stadium, which is owned by Tepper Sports & Entertainment. As concerned members of the community, we believe that these renovations and subsidies are not in the best interest of our city and sets a bad precedent that rich business owners can hold the city hostage and demand a queen's ransom to get whatever they want. 

Here's why we oppose the public funding of these renovations:

Misallocation of Public Funds: Tepper Sports and Entertainment, owned by billionaire financier David Tepper, is seeking public funding to renovate his PRIVATELY OWNED stadium. This request for so much public funds represents a misallocation of taxpayer dollars. Even within the context of the Convention Fund, there are better uses for this money. It could be better spent on a variety of projects, ones that do not have the financial backing of TSE, and would benefit the public more.

Limited Economic Benefits: Despite promises of economic growth and job creation, stadium renovations financed with public funds almost always fail to deliver meaningful long-term benefits for the community. Studies have shown that the economic impact of such projects is often overstated, with the majority of jobs being temporary and low-paying. We reject the notion that subsidizing professional sports venues is a sound economic investment for our community.

Corporate Welfare: Subsidizing stadium renovations effectively amounts to corporate welfare, where wealthy sports franchises like Tepper Sports and Entertainment receive preferential treatment and financial incentives at the expense of taxpayers. We believe that public resources should be used to address pressing social and economic challenges, rather than subsidizing the profits of private corporations. The choice to fund this project directly contradicts the promises of city council members of "creating opportunity" and promises of Mayor Vyles about "making Charlotte equitable for all Charlotteans."

Ownership of Bank of America Stadium: Bank of America Stadium is not a public asset; it is owned by Tepper Sports and Entertainment. As such, any renovations or improvements to the stadium should be financed by its private owners, rather than relying on public funds. We oppose the use of taxpayer dollars to enhance the value of a privately owned facility. The only thing the city of Charlotte does own is the land on which the stadium stands, which the city rents out the land for only $1 a year. TSE does not need anymore handouts. 

Undemocratic Process: We are deeply concerned about the lack of transparency and public input in the decision-making process regarding the stadium renovation plan. Back-end deals made by the city council, coupled with limited opportunities for public comment—such as only allowing one city council meeting for public input—undermine democratic principles and fail to represent the interests of the community. 

History of Bad Leadership by TSE: 

• $20 million settlement involving David Tepper, GT Real Estate, and the City of Rock Hill. This settlement raises concerns about the financial dealings of Tepper Sports and Entertainment and its potential impact on public trust and accountability. We demand greater transparency and accountability in all financial transactions involving public entities and private corporations.
• Excessive Spending on Players and Coaches: There are concerns within the community regarding the financial decisions made by Tepper Sports and Entertainment, particularly regarding the significant sums of money reportedly spent on quarterbacks and head coaches in recent years. While exact figures may vary, the perception among many is that excessive spending on player salaries and coaching staff has not yielded the desired results for the team or the community. This pattern of wasteful spending raises doubts about the fiscal responsibility of Tepper Sports and Entertainment, especially when coupled with requests for public funds to finance stadium renovations. Taxpayers should not be expected to subsidize the financial mismanagement of a private sports franchise.
• Low Attendance: This past season, reports highlight the Carolina Panthers' long-standing struggle to fill Bank of America Stadium, with tickets being sold for as low as 45 cents. This underscores the lack of demand for the team's games, raising questions about the necessity of costly renovations to accommodate larger crowds. Investing public funds in expanding a stadium with consistently low attendance is an irresponsible use of taxpayer money.
• Concerns About Leadership: Community members are increasingly apprehensive about entrusting public funds to an organization that appears to be struggling both on and off the field. It is imperative that any decisions regarding stadium renovations and public subsidies be made with careful consideration for the long-term interests of the community, rather than the short-term whims of its leadership. Last season, news outlets across the country reported on David Tepper's behavior, including what has been described as a "temper tantrum" throwing a drink at a fan of the opposing team. This adds to the growing concerns about the leadership of Tepper Sports and Entertainment. This behavior, combined with the disappointing performance of the Carolina Panthers in recent seasons, raises questions about the management and direction of the franchise under Tepper's ownership. 

Therefore, we urge the relevant authorities to reject the proposed renovations of Bank of America Stadium and to reconsider the self-imposed restrictions on the convention fund. We call for a more equitable and responsible approach to economic development that prioritizes the needs and well-being of all members of our community.

Thank you for considering our concerns.

This amount of money should not be going to the second richest owner in the NFL to fund a stadium the city has no equity in. This is wildly irresponsible. The proposed $650 million renovation plan for Bank of America Stadium is an excessive expenditure that diverts crucial funds away from essential public services such as education, healthcare, and infrastructure improvements. Charlotte's residents deserve better allocation of their tax dollars, especially when these funds could significantly improve our community's quality of life.

The city council must prioritize the needs of its citizens over corporate interests. Join us in urging them to reject this costly and unnecessary renovation plan. Sign this petition to demand responsible fiscal management and investment in our community’s future!