In April 1994 construction works began in Charlotte. The aim was clear: delivering a stadium worthy of hosting NFL games in the city that had no franchise before. Design was carried out by leaders in sports grounds, HOK Sport (later Populous).
As part of the financing scheme fans were able to buy individual licenses for their future seats and the huge interest in acquiring licenses became one of the factors for Carolina Panthers to be accepted as NFL franchise.
During early works the stadium was named Carolinas Stadium, a name still in use for events that require no commercial branding, like for FIFA football games. Already before opening Ericsson bought naming rights for the stadium for a decade, which was later followed by an even longer deal with Bank of America, who are to be present in the stadium’s name until 2014.
The two massive tiers and 153 skyboxes between them were initially designed to hold 72,685 people, but were later slightly rethought to fit in 75,412 seats. During 2014-2016 renovations a series of amendments were made, including installation of much greater screens on both ends, reconstruction of 6 small domes (2 on top of each main entrance gate) and erection of several statues outside the stadium.