Charlotte received the green light on Wednesday to sell $650 million of debt to help pay for upgrades to the home of the National Football League’s Carolina Panthers.
The North Carolina treasurer’s office approved the deal, which will support the $1.3 billion revamp of Bank of America Stadium, where Major League Soccer’s Charlotte Football Club also plays. A sports group run by billionaire David Tepper, called Tepper Sports & Entertainment, which owns both teams and the venue, will pay for the remainder.
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