Under the proposed agreement, the Bengals would spend $120 million to renovate East and West Club Lounges, upgrade all 132 stadium suites, improve concessions and for stadium beautification projects such as plazas, entryways and concourses.
The team has obtained G-5 financing from the NFL. The loan program allows teams to borrow money from the league for stadium projects.
The county would spend $64.5 million on infrastructure projects such as new elevators, stairs and escalators, suite seat replacements, glass refurbishment, electrical upgrades, and a new Junglevision control room.
Construction could begin as early as 2026. Both sides will start design, engineering and pre-construction work and lining up equipment starting this year.
This is the first phase of a $830 million renovation project that is tentatively planned for the stadium, with additional phases being rolled out through 2029.
Each phase of the three to four phases is expected to cost roughly $210 million. But who pays for the entire cost is still undecided.
The request is now before the Senate Finance Committee.
The county and team plan to finalize an agreed upon term sheet for the MOU by June 1, with a final comprehensive agreement by June 30.
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