CINCINNATI -- The Bengals are officially staying in Cincinnati.
On Friday, the Hamilton County Board of Commissioners voted to approve a new lease agreement with the Bengals that will run through 2036. The lease was approved via a majority decision, 2-1.
The two sides had initially reached a soft agreement in June on the original lease for Paycor Stadium that was set to expire after the upcoming season.
Friday's approval cements a $470 million joint agreement between Hamilton County and the Bengals for improvements on the new stadium. The county will contribute $350 million, while the Bengals will pay $120 million through the NFL's G-5 loan program.
Initially, the two sides had a deadline at the end of July, which was Thursday, to finalize the agreement. At Thursday's meeting, Hamilton County approved a version of the lease that the Bengals hadn't seen or approved.
That prompted a special session by the county commissioners on Friday to ratify a version the Bengals had signed.
In a statement, Bengals executive vice president Katie Blackburn said the new deal keeps the stadium on par with other NFL cities and keeps the venue as 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 said in the statement. "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."
