Hamilton County

Stadium
Renovation
Framework
Update to Board of County Commissioners
April 11, 2023

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Stadium Renovation
Framework
 Framework Composition:
A comprehensive and effective capital
renovation of Stadium
 Long-term future, viability and
competitiveness of the Team in its home
on the Cincinnati Riverfront
 An extended and renegotiated Lease
 Enhanced connection/integration of the
community and Stadium
A sustainable and diverse funding model
for capital, maintenance and operation
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Context for the Framework
- The Past and Present
The Original Lease
 Stadium Lease executed May 29th, 1997
 Initial term expires June 30th, 2026
 Lease contains options for 5, 2-year extensions
 Exercisable no later than 12 months prior to
the “then forthcoming expiration date”
 Lease controls relationship between County and
Team on matters such as:
 Term
 Revenue/Cost Sharing
 How and who uses Stadium Complex
 Capital improvements to and condition of
stadium
 Operations, maintenance and management
of the stadium
 County and Team will work over the next year
to develop new and extended lease
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Amendments to 1997 County/Bengals Lease
 Since July 1997, the County-Bengals Lease has been amended on five
occasions to address:
1. (1998) Stadium development in the context of City/County Redevelopment
Riverfront efforts
2. (1998) Original Stadium construction cost issues/Riverfront Parking Related Issues
3. (2000) County 50,000 seat ticket guarantee eliminated; COA Seat Licenses assigned
to County for Stadium Construction; Team receives COA Seat License revenues
after 6/24/2000
4. (2010) Team purchase of new Concession Point of Sale System at its sole cost
5. (2014) County/Team Cost sharing:
 Stadium Video and Ribbon Board Systems
 Wi-Fi System
 Club Lounge Furniture
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Context for the Framework - The Past and Present
If the 2018-2019 MOUs never happened…

LOT 13
LOT 1

LOT 25
MUSIC
VENUE
LOT 24

SMALE PARK

LOSS OF $400 MILLION DEVELOPMENT

-$2.18B ECONOMIC LOSS:
• LOSS OF 2,156 CONSTRUCTION JOBS
• LOSS OF 3,048 PERMANENT JOBS
• DIRECT LOSS OF OVER $100MM IN DEVELOPMENT
PROJECTS IN BANKS 2019-2022
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Context for the Framework - The Past and Present
Since the MOUs in Effect
BENGALS PRACTICE
FACILITY LOT 13
LOT 1
BRADY MUSIC LOT 25
CENTER

BLACK MUSIC LOT 24 $400 MILLION DEVELOPMENT

WALK OF FAME +$1.85B ECONOMIC IMPACT:
SMALE PARK • +2,520 CONSTRUCTION JOBS
EVENT LAWN • +3,048 PERMANENT JOBS

SINCE 2019 $100 MILLION IN DEVELOPMENT

Bengals MOUs enable Banks MOVES FORWARD
• CINCINNATI BLACK MUSIC WALK OF FAME
Project to Move Forward • BRADY MUSIC CENTER
• SMALE PARK EVENT LAWN
• BENGALS INDOOR PRACTICE FACILITY

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 Bengals
BradyPractice Facility
Music Center
Smale Riverfront Park

$100MM IN N EW D EVELOPMENT S INCE 2 0 1 9

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 The MOUs…
Context for the Framework
1. Intentionally deferred Stadium negotiations in
- The Past and Present context of future Stadium renovation and lease
renegotiation
2. Enabled capital repair investment sufficient to
sustain Stadium so that renovation possible; not
defaulting to a new stadium build with a likely
investment in excess of $2.0 Billion
MOUS CREATED NEXUS TO
3. County/Team joint investment in Facility
FUTURE NEGOTIATIONS Condition Assessment
4. Led to over $100MM in new Banks development
since 2019

COUNTY/TEAM TO JOINTLY
DEVELOP A MASTER PLAN TO BE
IMPLEMENTED 8
  April 2022: Facility Condition
Assessment received from Gensler

Stadium  $490+ million in improvements over 20 years

 County and Team Collaboratively Work
Renovation with Gensler to Develop Master Plan
Framework:  County and Team to prioritize FCA and
Renovation MP into a Comprehensive Renovation
Plan
Update  Renovation Plan to be implemented in
multiple phases over 3-4 year period and
could include a prioritized set of projects
depending upon condition and need of
Stadium
NFL Trends in
Stadia
Development

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 Original Construction Cost (in millions)
LOS ANGELES CHARGERS/RAMS $5,500
LAS VEGAS RAIDERS $1,900
ATLANTA FALCONS $1,600
MINNESOTA VIKINGS $1,100
SAN FRANCISCO 49ERS $1,270
NEW YORK JETS/GIANTS $1,600
DALLAS COWBOYS $1,300
INDIANAPOLIS COLTS $720
ARIZONA CARDINALS $395
PHILADELPHIA EAGLES $360
SEATTLE SEAHAWKS $430
NEW ENGLAND PATRIOTS $325
HOUSTON TEXANS $440
DETROIT LIONS $430
PITTSBURGH STEELERS $281
DENVER BRONCOS

CINCINNATI BENGALS
$401

$350
STADIUMS BUILT
TENNESSEE TITANS $290 SINCE 1995
CLEVELAND BROWNS $283
TAMPA BAY BUCCANEERS $169
BALTIMORE RAVENS $220
WASHINGTON COMMANDERS $250
CAROLINA PANTHERS $248
JACKSONVILLE JAGUARS $140

$- $500 $1,000 $1,500 $2,000 $2,500 $3,000 11

Total New Construction Spend in the NFL: 1996-2027
Total Stadia Construction Spend
5000

Total
4500
Trend

±$2B COST
4000

3500

3000

2500

2000

1500

1000

500

0
CAR WAS BAL TB CLE CIN DEN PIT DET HOU NE SEA PHI ARI IND DAL NY SF MIN ATL LA LV BUF TEN WAS
(VA
prop)
1996 1997 1998 1999 2000 2001 2002 2003 2006 2008 2009 2010 2014 2016 2017 2020 2026 2027

Key Takeaway:
 Average cost of the 7 new NFL Stadia developed between
2009 –2022 is $2,000,000,000 12
Total Renovation Construction Spend in the NFL: 2003-2023

CURRENT TREND:
$600-$850M

Team Year Opened or Total Cost (in

Planned to Open millions)

Key Takeaways: CHI (renovation)

MIA (renovation 1)
2003
2017
$632
$500
• +/- $350MM Average NO (renovation 2) 2020 $450
KC (renovation) 2010 $375
• 10 Major Multi-Phase Renovations Since 2003 GB (renovation 1) 2003 $295
• Trend is upward $600-800MM CAR (renovation) 2017 $253
NE (renovation 2) 2023 $225
NO (renovation 1) 2006 $193
TB (renovation) 2015 $160 13
GB (renovation 2) 2013 $141
Transformational
Stadia

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15
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Highmark Stadium

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Tennessee Titans – Nissan Stadium

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Major Elements
of NFL Stadia
Renovation

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 Trends in the NFL
 Multiple Expansive Video Boards
 Open multi-Use Concourses and
Finished Spaces
 Diverse Club Areas
 Variety of Seating and Gathering
Experiences
 On-site Sportsbook and other gambling
targeted spaces
 Cohesive development integration with
urban core/entertainment districts

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 Integrated Retail
Sportsbook
 MLB, MLS, NFL, NBA and NHL all have at
least one team with an in-stadium retail, brick
and mortar sportsbook
 Combination of “TV Walls”, dining
experience, and pre/post game activities
 Fan engagement on game-day and
non-game days; 24/7/365 usage

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 Enhanced Use of Space

 Large conference
spaces for use year
round
 Meeting rooms for use
by organizations within
the community
 Food and beverage
spaces for event use

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 Typical NFL
Suburban Stadium
Sea of Parking

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Arizona Cardinals; State farm Stadium: Glendale, AZ

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Baltimore Ravens; M&T Bank Stadium: Baltimore, MD

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Buffalo bills; New Era Field: Orchard Park, NY

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Dallas Cowboys; AT&T Stadium: Arlington, Tx

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Denver Broncos; Sports Authority Field: Denver Co

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Houston Texans; NRG Stadium: Houston, Tx

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Jacksonville Jaguars; TIAA Bank Field: Jacksonville, Fl

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Kansas City Chiefs; ArroWhead Stadium: Kansas City, Mo

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Miami Dolphins; Hard Rock Stadium: Miami, Fl

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New England patriots; Gillette Stadium: Foxborough, Ma

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Advancing to the
Next Level in
Cincinnati

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Development and
Integration With Urban
Core/Entertainment
Districts

 The County has

Linking stadia with the community
with flexible public plazas, indoor-
been the forefront
outdoor dining, media walls, etc.
of this trend for
 Space(s) create greater seasonal public use
and "premier" event spaces

over 20
 Movement awayyears
from “seawith
of
The Banks
parking” mentality Project
 Tennessee, LA, Baltimore, Cleveland, Green
Bay, Jacksonville, Denver, etc.

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2023
1997
FURTHER INTEGRATE STADIA WITH
BANKS AND DOWNTOWN

CREATE AND CONNECT

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Providing Greater Public Utilization

 County/Bengals to lead the

Stadium Complex
renovation/transformation
 Reimagined/Redeveloped
public concourses and plazas
 Lounges/clubs/meeting
rooms/concourses available
year-round for convention/
business/meeting spaces
 Increased use of Stadium
spaces for non-NFL Events
 Central community event
space(s)
 Revenue driving events in the
off-season
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P
The County and the Team:
 Partners in the Master
Planning process
 Prioritize
fan experience,
community interaction, and
maximizing revenues from
the Stadium and surrounding
development
 Focus on long term capital
improvements, revenue
generation and sustainability

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County/Team
Collaboration to Drive
Stadium Transformation
 Master Plan Stadium
Development That Integrates
Stadium Complex With Banks
and Downtown
 Identify All Potential Sources of
Public/Private Funding
 Joint Strategic Approach to
Pursue And Secure Funding

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Hamilton County
Stadium
Renovation
Framework
Update to Board of County Commissioners
April 11, 2023

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