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BENGALS KEEPING THEIR STRIPES IN CINCINNATI
Published September 11, 1996
In what Bengals and Hamilton County officials call the completion of the "third quarter" in stadium negotiations, the Bengals have agreed to stay in Cincinnati through the 2025 season and contribute $44-48M toward a new stadium, according to Anne Michaud of THE CINCINNATI ENQUIRER. The team will occupy the new facility by August 1, 2000. The agreement "sets in motion" finding an architect, but doesn't set a location for the new facility. The deal calls for the team contributions to come from $20-24M in PSL revenue, $5M from the sale of naming rights, $11.7M in rent over nine years, and $4M in ticket surcharges. The 20-page memo of understanding also includes: a promise that the team will not enter into any contract to play elsewhere without permission from the county; the team can not apply to the NFL to relocate; all parking, concession and ticket revenue goes to the team; the county is responsible for maintenance and upkeep; the team must sell 80% of their luxury boxes for ten seasons and sell 50,000 season tickets by April 30, 1997, or "they can walk away from the deal." The county must sell $20M in PSLs by the April '97 date or the team can get out of the deal. The Bengals have the exclusive right to bring in a pro soccer team for the first ten years of the agreement (CINCINNATI ENQUIRER, 9/11).