Venue Detail
Carolina Panthers
Revenues From Sports Venues Pro Facilities Report
February, 2012
Carolina Panthers
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800 S Mint St Charlotte, NC 28202 Phone: 704-358-7000 Fax: 704-358-8803 URL: www.cpanthers.com Owner: Richardson Sports League: National Football League, NFC South
Venue
Bank of America Stadium, 800 S Mint St, Charlotte, NC 28202-1514 Owner: Richardson Sports Managed by: Carolina Stadium Corp. Built: 1996 Capacity: 72,685 Permanent concession stands: 76 Concessionaire: Sportservice Suite caterer: Sportservice Soft drink: Coca Cola Beer: Multiple
Naming rights
Sold to: Bank of America Price: $140,000,000 Term: 20 years Expires: 2024
Ticket prices
Season tickets range from $460 to $1,090 Single tickets range from $40.00 to $430.00
Attendance
2009 average attendance: 73,289 2010 average attendance: 72,620 2011 average attendance: 72,292
Suites
Quantity: 158 Term: 6 to 15 years Price: $87,000 to $325,000 Seats: 10 to 50 Includes: Parking, tickets.
Club seats
Quantity: 11,358 Term: 6 to 10 years Price: $2,000 to $4,300 Includes: Tickets, access to private restaurant.
Financing
The $248 million stadium was primarily funded through the sale of $147 million in seat licenses and private money. The city donated land and made infrastructure improvements.
Seat licenses
PSLs were originally sold to finance Ericsson Stadium in 1993 and their value has appreciated since then. Originally 62,000 were for sale at prices ranging from $600 to $5,400 for a lifetime seat. Prices now range from $975 to $12,000. The licenses are fully transferrable, so that creates a market for resale. The sales generated nearly $160 million in revenue which, after taxes, resulted in $100 million for the stadium project. PSLs for club seats were originally $1,500 and now are selling for $6,500 to $10,500.
Bank of America Stadium was financed privately by the pre-sale of 128 of the stadium's private suites. Another 62,000 PSLs were sold at prices ranging from $600 to $5,400. Beyond the $100 million raised by these rentals, team owner Jerry Richardson contributed the balance of the stadium's cost, or around $65 million.
The stadium began life as Ericsson Stadium, but in 2004, Bank of America took over the naming rights agreement. Ericsson paid $20 million in a 10-year deal that it sought to leave two years early.
The Panthers, like many other NFL teams, are offering VIP services at tents outside the stadium. At Bank of America Stadium, the area is called South Lawn Village. The Village has upscale food, tables with cloth coverings, personalized catering and live entertainment.
In 2008, the team opened the new Gridiron Club. Joining requires a $10,000 membership fee and $4,250 per ticket. The space features three rows of terrace seating shielded from the elements by the ledge above and featuring radiant heat and cooling fans. If fans need a closer look at the action, flat screen televisions line the fascia.
Inside the seamless glass directly behind the viewing seats is the exclusive 8,500-square foot Club, featuring concierge service, premium parking, private restrooms, hot and cold market with food options and full service bar. If you need to check the score of another game, watch any one of the flat screen televisions throughout the Club showing each game in the NFL. Or, sit in the custom designed theatre equipped with a video wall for the ultimate experience of the action inside.
Suite terrace packages begin at $8,000 for 20 fans. There is a tent available and access to the stadium's club during the game. Village packages also host 20 fans, but do not include club access. They are priced at $4,500. Stadium packages put you further away from the prime South Lawn Village real estate where better amenities are offered, but the 20 fans still pay $4,700.
Single suites seating 10 to 20 persons lease for $6,500 to $16,500 per game. (Facilities, Financial, Football, NFLNFL, Professional Sports)