North Carolina’s newly signed state budget sends a $30 million one-time cash infusion to First Horizon Coliseum, a badly needed boost for Greensboro’s aging arena, but local venue leaders say it barely scratches the surface. Managers of the Coliseum complex and the Greensboro Sports Foundation estimate roughly $150 million is still required to clear years of deferred maintenance and update the buildings enough to keep landing major tournaments and concerts.
As reported by The Assembly, the budget Gov. Josh Stein signed in July includes a specific $30 million earmark for First Horizon Coliseum as part of a long list of one-time capital allocations. A breakdown from the News & Observer likewise singles out $30 million for improvements at the Greensboro complex.
That $30 million will not come close to covering the full wish list, though, according to the Triad Business Journal. City and venue leaders told the outlet they expect about $150 million more will be needed, and the Greensboro Sports Foundation’s president said “the coliseum complex has years of deferred maintenance that need to be addressed to continue driving tourism dollars to the city.”
Greensboro does have some borrowing capacity already lined up, but that alone will not close the gap. The city’s FY 2025–26 recommended budget shows general-obligation and limited-obligation bond dollars set aside for Coliseum work, according to the City of Greensboro, and officials say grants and private partners will be needed to pull off a full-scale overhaul.
Estimates Have Varied
The public price tag for renovating the Coliseum complex has shifted as leaders adjust what is in, and what is out. In March, the Triad Business Journal quoted managers saying the facility could require upward of $200 million in total renovations, a reminder of how quickly costs move when the scope changes.
Where the Rest of the Money Could Come From
City staff and venue operators are eyeing a patchwork of tools to close the hole: potential bond referendums, federal or state grants, hotel-occupancy revenues and private capital or sponsorship deals. The complex has already drawn some private partners, with First Horizon Bank buying naming rights and Oak View Group taking over management of the venues, moves the Greensboro Complex highlights as part of an effort to bring in outside investment.
For now, officials say the new $30 million is likely to go first toward urgent maintenance, equipment and safety needs while the city and its partners map out a phased plan for bigger upgrades. Next steps include hammering out a priority project list, figuring out how to match the state dollars with local money and setting a timetable so the Coliseum can keep hosting the tournaments and big-name shows that pump cash into Greensboro’s economy.
