Future
The new stadium, which would be called BB&T Ballpark, is expect to cost $54 million. Mecklenburg County is contributing land valued at $20–24 million, and an additional $8 millon in cash. The city of Charlotte is contributing $7.25 million, with another $750K From Charlotte Center City Partners. The remaining $38 millon will be financed by the Charlotte Knights. Construction of the new stadium is expected to begin in October, 2012.
Knights owner Don Beaver said the only thing left is lining up financing for the team’s share of the cost. As part of the agreement, the Knights must begin play in the new stadium in 2014, are responsible for construction cost overruns, and annual stadium operating cost.
In addition to financial hurdles, the planned stadium has also run into a series of legal challenges. Attorney Jerry Reese – who reiterated that he believes the city is better suited for major-league baseball – has filed at least five lawsuits to block an uptown stadium.
Read more about this topic: Knights Stadium
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