The Carolina Hurricanes aren’t going anywhere — they’ve signed a 20-year lease extension agreement with the Centennial Authority and Gale Force Sports and Entertainment, according to a team release, keeping them at PNC Arena through the 2043-44 season. As part of the agreement, PNC Arena is poised for a substantial facelift, with plans to create a sports and entertainment district encircling the arena, which is rather secluded from downtown Raleigh as things stand.
"This development will transform PNC Arena into a year-round destination for residents while also improving the event day experience for Hurricanes fans, NC State fans and concertgoers alike,” said Hurricanes majority owner Tom Dundon.
It’s a significant investment coming from the local government, with a combined $300M from the City of Raleigh and Wake County. There’s also a fair amount of private money funneled into developing the land around the arena, which will include office space, living space, a hotel and a concert venue — a minimum of $200M investment within five years, $400M within 10 years and $800M within 20 years.
Elsewhere from the Eastern Conference today:
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