Raymond James stadium in Tampa, Florida, US is set to undergo a US$100m (€91m, £66m) upgrading of its facilities.

Tampa Sports Authority (TSA), which owns the 66,000-capacity venue, has reached an agreement with the stadium’s tenant, NFL franchise Tampa Bay Buccanneers over a two-stage renovation plan.

The first stage of the renovations are scheduled to be completed in time for the 2016-17 NFL season. The centerpiece of the first phase of projects will be the installation of new HD video boards in each end zone, four HD tower video displays in each corner of the lower bowl and HD ribbon boards in the center ring of the suite level.

The giant screens would mean that the stadium’s total video display area would be 28,416sq ft — the third-largest in the NFL.

The project will also include a new sound system and concessions upgrades, in addition to the renovation of all luxury suites.

The second phase of renovations – which will be completed in time for the 2017-18 season – will include an extensive renovation of the east and west club lounges, expansions of the general concourses, construction of a team store, and other general fan enhancements.

Tampa Bay Buccaneers are committed to spend a minimum of US$29m (€26m, £19m) on phase 1 improvements and US$28.8m on phase 2, combined with the TSA’s US$28.8m.

Buccaneers chief operating officer Brian Ford said: “The proposed agreement will provide the type of much-needed enhancements that will improve the in-game experience for our loyal Buccaneer fans and will play a key role in our ability to attract the types of large-scale events that we have grown accustomed to hosting over the years."

The deal must now be approved by two local governments – Hillsborough County and the City of Tampa.

TSA president and CEO Eric Hart added: “The proposed improvements would be a huge win for our community, as fans will be provided an enhanced event experience and Tampa will be uniquely positioned to host future world class events at Raymond James Stadium.

“I would like to thank the administrations of both Hillsborough County and the City of Tampa, along with the Tampa Bay Buccaneers for their efforts in developing this innovative plan.”