The Cincinnati Bengals’ new lease agreement with Hamilton County seemed to come together quickly and, by most accounts, is pretty fair.
The deal, which runs through at least 2036, features some headline items like $470 million in renovation budget for Paycor Stadium, featuring a $350 million-$120 million split for county and team, respectively.
But there are some interesting little details tucked into the agreement, too.
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One? The Bengals will pay rent. The team will be on the hook for $1 million over the upcoming three years, then $2 million annually over the final eight years of the deal, plus any extension years.
That renovation split is a 75-25 agreement, too, down from 88 percent the county shouldered last time.
Two? More events. The county now has control of outside events.
“The taxpayers are going to have access to their stadium,” Commissioner Denise Driehaus said, according to Paul Dehner Jr. of The Athletic. “We are going to be in charge of what happens in the stadium. We will bring in concerts. We will bring in games. I’m excited taxpayers can use this game to their benefit.”
Local fans know that Paycor Stadium hosted maybe two major concerts per year, plus a festival and other minor events like football games and otherwise. Now, that could balloon, helping the budget, surrounding area, etc.
In all, a nice deal that at face value, feels like two parties came together with the right goals in mind and will keep things as modern as possible, too.
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This article originally appeared on Bengals Wire: Bengals stadium lease deal nets Hamilton County some wins
Reporting by Chris Roling, Bengals Wire / Bengals Wire
USA TODAY Network via Reuters Connect
