[8] The idea of a new basketball arena to replace the Wolfpack's longtime home, Reynolds Coliseum, first emerged in the 1980s under the vision of then-Wolfpack coach Jim Valvano.

The Centennial Authority was created by the North Carolina General Assembly in 1995 as the governing entity of the arena, then financed by state appropriation, local contributions, and university fundraising.

The Centennial Authority refocused the project into a multi-use arena, leading to the 1997 relocation agreement of the then-Hartford Whalers, who would become the Carolina Hurricanes.

Construction began that year and was completed in 1999 with an estimated cost of $158 million, which was largely publicly financed by a hotel and restaurant tax.

Known as the Raleigh Entertainment and Sports Arena (ESA) from 1999 to 2002, it was renamed the RBC Center after an extended search for a corporate sponsor.

On June 19, 2011, it was announced that PNC Financial Services bought US assets of RBC Bank and acquired the naming rights to the arena pending approval by the regulatory agencies.

Raleigh experienced its first NHL game on October 29, 1999, when the Hurricanes hosted the New Jersey Devils on the building's opening night.

[13] In 2019, the arena hosted the Stanley Cup playoffs for the first time in 10 years, with fans setting a single-game record attendance of 19,495 in game 4 of the second round versus the New York Islanders.

In March 2025, the arena will host a neutral site match between the Minnesota Frost and Ottawa Charge of the Professional Women's Hockey League during the 2024–25 PWHL season.

Clair Brothers Systems installed a combination of JBL line arrays to provide improved audio coverage for all events.

Their proposal includes all-new entrances, a new rooftop restaurant and bar, covered tailgating sections, and moving the administrative offices elsewhere in the arena as a result.

In 2018, they renovated the NHL home locker rooms and replaced the seating in the upper bowl as well as an ice/court projection system that was first used December 23 at a Hurricanes game against the Boston Bruins.

These included a new marketplace in the upper concourse as well as other concessions renovated and a new color changing lighting system on the exterior of the South End.

The Centennial Authority met with local officials, the Carolina Hurricanes, and National Hockey League Commissioner Gary Bettman in May 2022.

[37] On August 15, 2023, the Centennial Authority, Carolina Hurricanes, and NC State University announced intentions to move forward with renovation & redevelopment plans.

[38] In addition to hockey and college basketball, the Lenovo Center hosts a wide array of concerts, family shows, and other events each year.

Past concerts include Beyoncé, Paul McCartney, Ed Sheeran, Taylor Swift, Justin Timberlake, Celine Dion, Elton John, Blink-182, Nicki Minaj, Sam Smith, Pitbull, Mariah Carey, Bruno Mars, Reba McEntire, Tim McGraw, Ariana Grande, Post Malone, KISS, Def Leppard, and many other artists.

Family shows have included Disney on Ice, Ringling Bros. and Barnum & Bailey Circus, Sesame Street Live, Cirque du Soleil, Rodeo, Stand-up comedy, Monster Jam, WWE, and Harlem Globetrotters.