https://www.carolinajournal.com/charlottes-650-million-splurge-on-bofa-stadium-renovations-named-2024s-worst-economic-development-deal-of-the-year/
The “Worst Economic Development Deal of the Year” award, which has been given annually by the Center for Economic Accountability (CEA) since 2018, highlights state or local government subsidies for private enterprises that exemplify wasteful and ineffective economic development efforts.
Charlotte’s $650 million subsidy for the privately-owned stadium, also home MLS’s Charlotte FC, is 2024’s big winner, standing out among a competitive field of finalists, which included other sports stadium deals and corporate megaprojects across the country. The Charlotte BofA stadium renovations deal pulled away from the pack due to a combination of factors that included its high cost, lack of transparency, poor returns, questionable economic justifications and the Panthers ownership’s checkered history with subsidized projects.