Report: Bobcats ask for more than $40 million for arena renovations
The Bobcats and city tourism officials submitted a list of improvements for Time Warner Cable Arena that would cost the city of Charlotte $41.9 million, according to Steve Harrison of The Charlotte Observer.
Writes Harrison, "The request includes suite improvements, restaurant renovations and moving the ticket office at the 8 1/2-year-old facility."
The arena is the third-youngest in the NBA, older than only Brooklyn's Barclays Center and the Amway Center in Orlando.
The Bobcats rank 25th in the NBA with an average home attendance of 15,257.
Charlotte City Council voted to give $87.5 million for stadium improvements to the Panthers' Bank of America Stadium, which opened in 1996, last year.
Writes Harrison, "When the city and Bobcats signed a 25-year arena lease, one provision called for the Bobcats and the Charlotte Regional Visitors Authority, which together manage the city-owned facility, to conduct a review of the $260 million arena’s needs seven years after its opening."
Charlotte voters rejected a proposal to use public money on a new basketball arena in 2001, and in 2002 the Hornets left for New Orleans.SI WIRE: Report: NBA addresses Phil Jackson-Jeanie Buss relationship