The NFL is one of the biggest professional sports businesses in the world. Their world wide fan base is growing each year when games are played abroad.
However, it was a deal with one of their own franchises that made waves on Friday.
Breaking: NFL Locks Up Franchise Through 2036 (Report)
There will be no relocation for the Cincinnati Bengals. Friday, the Bengals announced that they had reached an agreement with Hamilton County to keep the team in the area for another decade:
The new lease agreement, which Hamilton County officials approved on Thursday, keeps the Bengals in Cincinnati’s Paycor Stadium for another decade, with the deal running through 2036. The deal also includes 10 option years to potentially continue the agreement through 2046.
In a statement, Bengals executive vice president Katie Blackburn thanked Hamilton County and the community for its role in the deal.
“This new lease keeps Paycor Stadium on par with other communities around 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,” Blackburn wrote. “Today’s deal embodies a responsible approach for the future, while at the same time keeping Paycor Stadium a great venue that can provide our great fans the great gameday experience they deserve.
“We love Cincinnati and are proud to call this town home. The Bengals sincerely thank the community, and we look forward to successful and exciting football seasons ahead.”
The Bengals had until June to re-sign a lease with Paycor Stadium, the team’s home venue, which is owned by Cincinnati’s Hamilton County. Delays in the signing led to concerns that the Bengals could try to relocate, rather than stay put in Cincinnati.
Additionally, after Hamilton County officials passed a resolution on the new lease on Thursday, the Bengals said that they had not seen a final version of the lease. However, the issue was seemingly ironed out on Friday, as the team made the news official.
As part of the lease, the Bengals will help renovate the stadium. The project is set to cost $470 million in total, with the Bengals contributing $120 million. The organization says that it will work with Hamilton County to secure additional funding from the State of Ohio.
In addition to stadium renovations, the team and county will also revamp the riverfront near the venue. Paycor Stadium sits on the Ohio River.
Paycor Stadium has been the Bengals’ home stadium since it opened in 2000. Until the Bengals re-named the stadium in 2022, the venue was known as Paul Brown Stadium, named after founding owner Paul Brown, who built the team in Cincinnati in 1967. Brown’s son, Mike Brown, has been the team’s controlling owner since 1991.
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