Hamilton County commissioners have voted in favor to approve the framework of a new 11-year lease for the Cincinnati Bengals to continue playing in Paycor Stadium.

The lease, which has not yet been signed yet, would run through 2036 and include a total of $470 million in proposed costs for stadium improvements. Hamilton County would cover $350 million of said costs, while $120 million would be provided by the Bengals and the NFL thanks to the league's G-5 stadium loan program.

Hamilton County has approved a tentative framework on a lease extension with the Bengals that will keep the team in Cincinnati through at least 2036. Vote 2-0, one abstain

Proposed costs: $470 million, with $120 million coming from Bengals/NFL and the rest from Hamilton County.

— Ben Baby (@Ben_Baby) June 26, 2025

County Commissioner President Denise Driehaus and Vice President Stephanie Summerow Dumas voted to approve of the framework. Commissioner Alicia Reece abstained.

This has been a long time in the making with communications between the club and county officials lasting years leading up to the June 30 deadline. Hurdles have had to be overcome for approval to be reached, and while the finish line has not yet been crossed, the Bengals are on track to staying in their home venue for the next decade and then some.

As to how this all came together, the county pushed for a couple key details that are significantly different from the infamous 1997 lease of the venue formerly known as "Paul Brown Stadium," and the Bengals compiled. 

Why Hamilton County approved of a new Paycor Stadium lease

Memories of how lopsided the current lease agreement was in favor of the Bengals were present throughout these negotiations, and the county made sure its taxpayers wouldn't suffer the same fate.

Firstly, the county is on the hook for $350 million of the proposed $470 million in improvement costs. That is 74.5% of the total cost, which is down from the 88% the county was responsible for in the previous lease. The $350 million will not include any new taxes. 

"One thing that I advocated for was no new taxes, and I've done that" Dumas said in her statement. "One thing that I advocated for the people to pay less and for the team to contribute more in the pot. And I've done that." 

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Covering nearly 75% instead of essentially 90% for the last three decades is indeed an improvement, but the key detail is the $350 million is the capped figure, meaning the county will not be asked to contribute any more than that amount. 

"The county has committed to $350 million and it's capped. This is something that we've been worrying about," Driehaus said in her statement. "Because the old lease allowed the Bengals to come in and ask for enhancements relative to the market, relative to what everybody else was doing to stadiums all over the country. And so we always had this undefined liability that we might have to spend money we don't have we can't afford, if the Bengals asked for these enhancements.

"That was in the old lease. That is something that keeps you up at night. And so this is capped. That is a great benefit to the county, and I'm thrilled that is within, obviously, all the borrowing capacity of the county."

Driehaus also included the fact that the Bengals will start paying rent, with $1 million coming in the first three years and $2 million in the years to follow.

"When you total all that up over the term, it's between $20-30 million or so," Driehaus said. "So the way I think about this is add that to the $120 [million] because this sustains the team's financial participation in the deal. And so you have to take the 120 and add the rent that we've never seen before, and add that to the total that the team is going to contribute. So now, I'm up to $141-150 million. So it's a substantial investment from the team.

"This stadium belongs to the taxpayers. And finally, the taxpayers are going to have access to their stadium."

Additional details of new Paycor Stadium lease 

• 11-year lease beginning with 2025 NFL season
• Five two-year extensions can extend lease to up to 21 years
• First two-year extension becomes automatic if Cincinnati reaches 24th or better in terms of total NFL revenue
• $470 million in stadium improvements was scaled down from $830 million figure that was proposed earlier this year
• Construction for improvements has 2-3 year timeline

Paycor Stadium was originally constructed in 2000. It will stay the home of the Bengals for at least another 11 years, and will likely be around for even longer with upgrades and renovations to boot thanks to this tentative agreement. 

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Improvements should be seen in the trenches first and foremost.