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The Panthers and the city of Charlotte have reached a deal, one in which the city pays for the bulk of the team’s upgrades to Bank of America Stadium, while tying the team to the city.

According to Erik Spanberg of the Charlotte Business Journal, the city agreed to pay $143.75 million toward the upgrades to the stadium which was finished in 1996, while the Panthers will contribute $96.25 million and the state of North Carolina $62.5 million.

In exchange for the money, the team “will be tethered” to the city for at least 15 years.

While no fanbase likes tax dollars (in this case a 1 percent hike in restaurant taxes over a 15-year period) heading to a business estimated to be worth $1 billion, the reality is citizens are footing a much smaller share of the tab than in places such as Minneapolis or Indianapolis.