The Cincinnati Bengals and Hamilton County reached an agreement Thursday on a new stadium lease that will keep the NFL franchise at Paycor Stadium through at least the mid-2030s, ending months of negotiations that had raised questions about the team's future in the city.
The 10-year lease includes options for five additional two-year extensions and calls for $470 million in stadium renovations, with the county contributing $350 million and the Bengals paying $120 million. County commissioners are expected to vote unanimously on the framework agreement, which comes just four days before the team's June 30 deadline to exercise extension options under their current lease.
The new agreement represents a departure from the previous lease structure, with the Bengals now covering 25% of renovation costs compared to just 12% under the original 1997 deal1. The renovation budget was scaled back from an initially proposed $830 million project outlined in April23.
"It's not perfect, but as often is the case in tough negotiations, no one leaves the table thinking they got the perfect deal," said Hamilton County Administrator Jeff Aluotto2. "It's a better deal, a smarter deal than what was done under the previous lease."
The first extension option will become automatic if the Bengals reach the top 24 in NFL revenue rankings, according to Sports Illustrated2. The county and team will continue pursuing state funding that could potentially expand the renovation scope4.
The agreement resolves a standoff that began intensifying in April when Bengals executive vice president Katie Blackburn suggested the team could "go wherever we wanted" if no deal was reached1. The current lease expires June 30, 2026, but the team faced a June 30, 2025 deadline to exercise the first of five two-year extension options2.
Without an agreement, the Bengals could have extended their existing lease through 2028 while exploring relocation options2. Moving to another city would have required NFL owner approval, while building a new stadium in surrounding counties would have demanded substantial team investment3.
Paycor Stadium, originally known as Paul Brown Stadium, opened in 2000 and replaced Riverfront Stadium as the Bengals' home4. The renovations will include upgraded suites, improved concessions, and infrastructure improvements such as new elevators and escalators5.
The deal marks the first time in stadium history that the Bengals have agreed to pay operating and maintenance expenses, with the team expected to contribute more than $1 million annually toward costs that totaled $13 million last year6.
