CINCINNATI (AP) — The Cincinnati Bengals and local officials have reached a tentative deal to make $470 million in renovations to Paycor Stadium and keep the team there through at least 2036.
The preliminary agreement announced Thursday still needs final approval from the team and Hamilton County commissioners.
The two sides had until June 30 to agree to a new lease or approve the first of five two-year extensions but they've agreed to extend the deadline. The Bengals’ original lease expires at the end of next June.
Both of Ohio's NFL teams are looking for public money for their stadiums. The Cleveland Browns want to build a new dome stadium just outside the city and are counting on $600 million in the new state budget to help finance construction.
In Cincinnati, the $470 million plan to renovate the stadium is far less than the $830 million the Bengals originally proposed.
The county will contribute $350 million toward the renovations, and the Bengals will pay $120 million.
Bengals Executive Vice President Katie Blackburn said the agreement will secure the team's future in Cincinnati. “This new deal ensures Paycor Stadium remains an excellent venue and a focal point for Cincinnati's riverfront,” she said in a statement.
Details on what the improvements will include were not announced. Both sides said they will work together to seek additional funding from the state.
The team has proposed improvements to the club lounges, stadium suites, concessions and scoreboards.
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 new lease would keep the Bengals there for 11 years and could be extended through 2046.
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