OFFICIAL! The #Canes have a new 20-year lease extension at PNC Arena, keeping the team at the venue through the 2043-44 season.
The building will undergo major renovations as a part of the agreement, including the development of a vibrant sports and entertainment district.
The deal includes a combined $300M investment from the City of Raleigh and Wake County. Gale Force will enter into a ground lease to develop the land around PNC Arena.
Gale Force will commit a minimum of $200M within five years, $400M within 10 years, and $800M within 20 years.