Hamilton County says it has a memorandum of understanding (MOU) with the Cincinnati Bengals to spend $185 million for renovations to Paycor Stadium in 2026.
The $185 million would fund the first of four renovation phases for the stadium. In total, all phases together could cost an estimated $830 million. The NFL and the Bengals would front $120 million for the first phase to build new club lounges, suites, concessions, and concourses. The county would add $64.5 million for new escalators, elevators, electrical upgrades, and suite seat replacements inside Paycor.
Hamilton County Commissioner President Denise Driehaus says the portion funded by the county is intentionally connected to stadium accessibility.
"It hits on a lot of priorities for this Board. We talk a lot about access to the public, we talk about safety, we talk about accessibility for other events," Driehaus said Tuesday. "We are hopeful that we'll have many more events [at the stadium], whether they're concerts or high school football games, or whatever it is."
The memorandum of understanding arrives amid negotiations between county representatives and the team over a new stadium lease. The current lease will expire in 2026.
The Bengals previously offered to extend the current lease, but the county says it's seeking more from the deal. County Administrator Jeff Aluotto says one of Hamilton County's terms is to allow for more public use of the stadium during the NFL offseason. Though the two parties still haven't reached an official agreement on the lease, Aluotto says the MOU would put renovation plans in motion and create an easier path to a new lease.
"What the MOU says is that both parties would agree to advance the design, engineering, and pre-construction work associated with these projects, as well as some limited equipment procurement starting in 2025," he said.
Hamilton County and the Bengals have until the end of June to reach a new lease deal or extend the current lease.
Additionally, the two parties sent a request to the state of Ohio for $350 million earlier in April to fund a chunk of the proposed renovations.
While some expressed that the MOU was a step in the right direction, Commissioner Alicia Reece says she isn't ready to invest county dollars into the stadium without a permanent lease.
"They've got enough money," Reece said. "You [the Bengals] front-load it as we continue to work on the lease. And if we get something, we'll reimburse you as part of the lease agreement. That to me would be a lot less exposure for the taxpayer."
Commissioners could vote to move forward with the memorandum of understanding and the renovations next week.
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