After some intense negotiations, the Bengals and Hamilton County have finalized a new lease that will keep the team in Cincinnati, at Paycor Stadium (formerly Paul Brown Stadium) for at least an additional 10 seasons.
The deal runs through June 2036, and also contains 10 option years that could potentially extend the deal through June 2046.
The stadium renovation project, meanwhile, is for a total of $470M, and the Bengals will be investing $120M. Hamilton County will contribute the other $350M. The team had originally wanted a $830M deal, but that number obviously came down during negotiations.
Executive VP Katie Blackburn had this to say on the deal in a team issued statement:
We are glad to finally finalize this new lease agreement and solidify the future of the Bengals in Cincinnati for many years to come. 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.
– Katie Blackburn
The stadium renovations will include improvements to club lounges, suites, and scoreboards. Over the next while, the two sides will also work with the State of Ohio to secure some additional funding for the project.
Featured Image Via: JonRidinger (CC)