“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,” said Hamilton County Commission President Denise Driehaus, in a press release. “We’ve capped the county’s costs and secured real investment from the Bengals and the NFL.”
Bengals Executive Vice President Katie Blackburn thanked the county for “demonstrating leadership and moving the county forward. This new lease keeps Paycor Stadium on par with other communities across the country and a focal point for Cincinnati’s riverfront. More importantly, it solidifies the future of the Bengals in Cincinnati, our beloved home, for many years to come.”
The lease announcement follows a two-day flourish in which both sides traded last-minute lease proposals, with the team seeking concessions for parking spaces that could disappear with future riverfront development.
At a special meeting of commissioners Friday, Driehaus said the Bengals signed an option to extend its original lease for two years. But then, the parties went back to the bargaining table.
Ultimately, reached a compromise on the parking issue, while modifying other lease terms that commissioners approved by a 2-1 vote. Alicia Reece voted no.
“The agreement now sets out various thresholds for miminum parking spaces for the team’s use,” Aluotto said. “It provides a cap on the county’s liability related to any revenue make up the county would owe for falling below those counts.”
As previously reported, the lease calls for the county to pay $350 million for dozens of improvements between 2025 and 2027, including elevator and escalator upgrades and replacement of all general assignment seats, Wi-Fi and audio-visual systems. It also calls for renovation of retail spaces and the visiting team locker room.
The Bengals will spend $120 million to renovate club lounges and luxury suites, according to the lease.
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