CINCINNATI – The Cincinnati Bengals may not be out of the running to receive state funding for the Paycor Stadium $830 million renovation project.
When the Ohio Senate released its two-year state budget, it didn’t include any money earmarked for the Bengals, but the state did commit to giving the Cleveland Browns money for their stadium.
According to a report in the Cincinnati Business Courier, the Senate set aside $1.7 billion from the state’s unclaimed property fund, with $600 million directed toward the Browns for construction of a new stadium in suburban Brook Park.
Hamilton County Commissioner Denise Drieshaus said the county and the Bengals can apply for a portion of the remaining $1.1 million.
“We were not left out,” Driehaus told the Business Courier. “We are optimistic there will be something in the final budget.”
Bengals director of stadium and event operations Duane Herring released a statement to news organizations last week saying the team would welcome additional funding but were not expecting it.
“The Team appreciates the State’s openness to supporting local stadium projects, as it has historically. We continue working hard in Columbus on funding options. An agreement between the Bengals and Hamilton County can be achieved now without waiting on what the State ultimately decides.”
The state budget is due June 30, the same day as the deadline for the Bengals to opt into one of a possible five two-year rollovers of the current lease.
The county wants to avoid a rollover as it seeks a new, market-rate lease that divides evenly the costs between the team and the county.
According to the Business Courier, both the Ohio House and Senate will have to reconcile their differing proposals for stadium funding.
The House included $600 million in state-backed bonds for the Cleveland project, a different method of funding than the Senate.
