Buccaneers have agreement in place for $100 million stadium renovation

Raymond James Stadium has been the site of two Super Bowls. AP Photo/Charlie Riedel

TAMPA, Fla. -- The Tampa Bay Buccaneers have an agreement in place with the Tampa Sports Authority to renovate Raymond James Stadium, it was announced Wednesday.

The renovations could enhance the chances of hosting an upcoming Super Bowl. Tampa, Miami, New Orleans and Atlanta are finalists to host Super Bowls in 2019 and 2020.

The renovations, scheduled for two phases, will include the installation of new, state-of-the-art HD video boards for each end zone, HD video towers for each corner of the end zone, a state-of-the-art sound system, a concessions upgrade and luxury-suite and club-lounge renovations. When completed, the video boards will be the third-largest combined video space among NFL stadiums.

The multistage renovation plan, a public/private venture, is expected to exceed $100 million and must still be approved by Hillsborough County, the city of Tampa and TSA Board of Directors by the middle of December.

Raymond James Stadium, which has hosted two Super Bowls, will host the College Football Playoff National Championship in January 2017. Tampa has been the Super Bowl host four times.