Latest news with #PaycorStadium
Yahoo
02-08-2025
- Business
- Yahoo
Cincinnati Bengals and Hamilton County finalize new lease, $470M deal to renovate Paycor Stadium
The Cincinnati Bengals and Hamilton County finalized a new 11-year lease on Friday that includes $470 million in renovations to Paycor Stadium. Hamilton County commissioners approved a version of the lease on Thursday but the Bengals did not sign because they had not seen the version that county officials approved. Both sides negotiated through the night before the Bengals signed off and commissioners approved during a special meeting on Friday. The lease keeps the team at their downtown home through at least 2036. It also includes 10 additional option years that could extend it through June 2046. 'The Bengals thank Hamilton County and its Commissioners for demonstrating leadership and taking steps that continue moving Cincinnati forward,' Bengals Executive Vice President Katie Blackburn said in a statement. 'It solidifies the future of the Bengals in Cincinnati, our beloved home, for many years to come. Today's deal embodies a responsible approach for the future, while at the same time keeping Paycor Stadium a great venue that can provide our great fans the great gameday experience they deserve.' The county will contribute $350 million toward the renovations, and the Bengals will pay $120 million. The plan is far less than the $830 million the Bengals originally proposed. The Bengals and Hamilton County will also work to secure state funding. The Cleveland Browns are receiving $600 million from unclaimed funds in Ohio's budget recently signed by Gov. Mike DeWine. The Browns are planning to build a new domed stadium in Brookpark, Ohio, near Cleveland Hopkins International Airport. The Bengals have proposed improvements to the club lounges, stadium suites, concessions and scoreboards. A permanent indoor facility is also on the long-term wish list. Cincinnati was the only northern NFL team without an indoor practice facility for many seasons until 2022, when it added an indoor practice bubble across the street from its outdoor fields. Owner Mike Brown said on July 21 that the planned improvements and requests were in line with other medium- to small-market NFL franchises. 'We aren't looking for fancy, new things," Brown said. "We're going to try to spruce up the club area. There are some areas around and about in the concession area. There are things that are going to be improved but we aren't going to put a dome over the top. We aren't going to put a mammoth scoreboard in. It is going to be what it has been, pretty much, and I don't think there's anything wrong with that.' The Bengals have called Paycor Stadium home since 2000. It was originally named Paul Brown Stadium until the team sold the naming rights in August 2022. The finalized lease wraps up what had been a long and at times contentious period of negotiations between Hamilton County and the Bengals. The original 1996 lease has been cited by many as what city, county or state governments should not do when trying to build a new stadium or arena for a team and giving that franchise too much control of the process. 'We stood firm on what we thought was best. I think that this lease agreement is good for the people and the team. This I feel is the people's lease and I feel proud of that,' Stephanie Summerow Dumas, one of Hamilton County's three commissioners, said on Friday. ___ AP NFL:
Yahoo
01-08-2025
- Business
- Yahoo
Bengals finalize $470M stadium renovations, lease agreement
The Cincinnati Bengals will remain at Paycor Stadium for at least 11 years, resulting in $470 million in stadium improvements. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] The agreement between Hamilton County and the Bengals, announced just hours before a crucial deadline, ensures that the team will remain in Cincinnati, with significant investments from both the county and the team. Hamilton County will contribute $350 million towards various stadium upgrades, while the Bengals will invest $120 million in renovating club lounges and luxury suites, our news partners at WCPO reported. TRENDING STORIES: Body of missing Ohio pizza delivery driver found in ravine 'Sick to my stomach;' Ohio mother demands answers after police release missing 12-year-old Man killed in shooting near Dayton apartment complex identified 'Today we are delivering on our promise to the taxpayers of a new and better lease that protects their interest and does not raise taxes,' Hamilton County Commission President Denise Driehaus said. 'We've capped the county's costs and secured real investment from the Bengals and the NFL.' The lease announcement followed intense negotiations, with both sides exchanging last-minute proposals. The team had been seeking concessions for parking spaces potentially affected by future riverfront development. The finalized lease includes plans for Hamilton County to finance improvements such as elevator and escalator upgrades, replacement of general assignment seats, and enhancements to Wi-Fi and audio-visual systems. Additionally, retail spaces and the visiting team locker room will be renovated. The new lease agreement not only secures the Bengals' presence in Cincinnati but also promises substantial enhancements to Paycor Stadium, aligning it with other top venues nationwide. [SIGN UP: WHIO-TV Daily Headlines Newsletter]
Yahoo
01-08-2025
- Business
- Yahoo
Bengals finalize Paycor Stadium lease agreement with Hamilton County
The Bengals' new lease for Paycor Stadium is officially in place. The team announced that they have finalized their agreement with Hamilton County on Friday. The agreement runs through 2036 with 10 additional option years and calls for $470 million in funding for renovations to the stadium. "We are glad to finalize this new lease agreement and solidify the future of the Bengals in Cincinnati for many years to come," Bengals executive vice president Katie Blackburn said in a statement. "We love Cincinnati and are proud to call this town home. The Bengals sincerely thank Hamilton County and this wonderful community. We look forward to exciting football seasons ahead." The agreement calls for the Bengals to provide $120 million toward the renovations of the stadium.
Yahoo
01-08-2025
- Business
- Yahoo
Bengals officially finalize new lease to keep team in Cincinnati's Paycor Stadium through 2036
The Cincinnati Bengals are officially staying put. The team announced Friday that it has come to an agreement with Hamilton County to keep the Bengals in the area for another decade. The new lease agreement keeps the Bengals in Cincinnati's Paycor Stadium for another decade, with the deal running through 2036. The deal also includes 10 option years to potentially continue the agreement through 2046. In a statement, Bengals executive vice president Katie Blackburn wrote that the new lease "solidifies the future of the Bengals in Cincinnati, our beloved home, for many years to come." "We love Cincinnati and are proud to call this town home," Blackburn said in the statement. "We look forward to exciting football seasons ahead." This story will be updated.
Washington Post
31-07-2025
- Business
- Washington Post
Hamilton County OKs $470M Paycor Stadium renovation, but Bengals say they haven't seen final lease
CINCINNATI — A new stadium lease for the Cincinnati Bengals has not reached the end zone yet. Hamilton County commissioners approved the 11-year lease on Thursday that includes $470 million in renovations to Paycor Stadium. However, the Bengals have not signed off because they have not seen the final version. 'The version of the lease approved by the Hamilton County Commissioners was not shared with the Bengals prior to the vote. The team will have no further comment until we are able to review the document,' the Bengals said in a statement after the commissioners voted 2-1 to approve the lease.
