Bengals take big step toward stadium renovations, lease extension - ESPN

CINCINNATI — Hamilton County and the Bengals took a major step toward keeping the NFL franchise based in downtown Cincinnati.

On Thursday, the board of county commissioners approved the tentative framework for a $470 million agreement that will keep the team in its current home of Paycor Stadium through at least 2036. The money will be used to renovate the stadium that opened in 2000 on the banks of the Ohio River.

The deal comes after talks had ramped up significantly ahead of the pending June 30 deadline for the team to extend its current lease that expires after the 2025 season. The financial terms approved Thursday will give the county and the Bengals additional time to finalize the next lease agreement between the two sides.

In a statement, Bengals executive vice president Katie Blackburn said it was a «significant day» for both the franchise and Hamilton County.

«We thank the Hamilton County Commissioners for supporting this agreement to ensure Paycor Stadium remains an excellent venue and a focal point for Cincinnati's riverfront,» Blackburn said. «We are proud to call Paycor Stadium our home and to keep our future here in Cincinnati, where it belongs.»

The county board voted 2-0, with commissioner Alicia Reece abstaining. Dating back to at least last year, Reece has expressed concern about the funding structure for a potential new stadium and the county's financial commitment compared to the Bengals. In the deal approved Thursday, Hamilton County will be capped at $350 million. The Bengals and the NFL, as part of the league's G-5 loan program, will contribute $120 million.

«Essentially, this is a loan from the NFL,» said David Abrams, a consultant for Inner Circle Sports who was contracted by the county for this