MLS awarded Charlotte the 30th franchise in the league, which will likely be its last expansion team according to Don Garber.

"This is the right time for our league. It's the right time for the sport of soccer in America and it really is the right time for the ownership group. This is likely the last expansion team in Major League Soccer," Garber told ESPN.

Panters owner David Tepper paid $325 million to purchase the franchise.

Tepper's ultimate goal is to build a state-of-the-art stadium within 10 years.