Paycor Stadium is owned by Hamilton County, Ohio. The county holds the deed to both the riverfront land and the building itself, which makes the stadium public property. The Cincinnati Bengals are tenants under a lease that runs through at least 2036, and Paycor is a naming rights sponsor with no ownership stake in the property.1Hamilton County. Paycor Stadium
Hamilton County Holds the Deed
The Board of County Commissioners is the legal titleholder. The county’s own description of the stadium puts it plainly: it is “owned by the people of Hamilton County.”1Hamilton County. Paycor Stadium Public ownership covers the land along the Cincinnati riverfront and every structure built on it.
Because the building is publicly owned, it sits off the property tax rolls that apply to private commercial real estate. In place of property taxes, Hamilton County makes payments in lieu of taxes to Cincinnati Public Schools to partially offset the lost revenue.2Hamilton County Ohio. Sales Tax
How the County Paid For It
On March 19, 1996, Hamilton County voters approved a half-cent increase in the county sales tax. That revenue funded construction of what was then Paul Brown Stadium along with Great American Ball Park, home of the Cincinnati Reds.2Hamilton County Ohio. Sales Tax The same tax continues to pay for debt service, stadium operations, capital repairs, and the school payments.
The stadium opened in August 2000 with more than 66,000 seats across six levels, including luxury suites, club lounges, and party decks.1Hamilton County. Paycor Stadium It was originally named for the franchise’s founder, Paul Brown.
The Bengals Are Tenants, Not Owners
The Bengals have played in the stadium since it opened, but the franchise has never owned it. The team operates under a lease with the county that grants exclusive use for professional football and related commercial activities, along with a large share of game-day revenue from tickets and concessions.
In 2025, Hamilton County and the Bengals finalized a new lease that keeps the team at Paycor Stadium through June 2036, with ten additional option years that could extend the arrangement through 2046.3Cincinnati Bengals. New Deal Keeps Bengals In Paycor Stadium Through 2036 The new deal also capped the county’s capital obligations, which had been open-ended under the original lease. Going forward the county will spend $3 million annually on capital costs for the first three years and $6 million annually after that.4Hamilton County Ohio. Hamilton County Commissioners and Cincinnati Bengals Approve New Bengals Lease of Paycor Stadium
Alongside the lease, the two sides agreed to a $470 million renovation. Hamilton County is contributing $350 million, capped, and the Bengals are contributing $120 million, which includes a $60 million loan through the NFL’s G-5 loan program.4Hamilton County Ohio. Hamilton County Commissioners and Cincinnati Bengals Approve New Bengals Lease of Paycor Stadium The county’s share pays for the building’s bones (seats, escalators and elevators, restrooms, video boards, Wi-Fi, concrete, roof canopy, security), while the Bengals’ share pays for revenue-generating premium spaces like club lounges, suites, and concessions.5Hamilton County Ohio. 2025 Lease Agreement between Hamilton County and the Cincinnati Bengals
Paycor Only Has Naming Rights
The stadium’s name can mislead. Paycor, a Cincinnati-based human capital management company, holds a 16-year naming rights partnership that the Bengals and the company announced in 2022, replacing the Paul Brown Stadium name used since 2000.6Cincinnati Bengals. Cincinnati Bengals and Paycor Announce Stadium Naming Rights Partnership The deal is reported to be worth between $8 million and $12 million per year, and those payments go to the team.
Paycor’s agreement is for branding and advertising. It carries no equity, no ownership interest, and no claim on the building. If the contract ended, Paycor would lose its name on the signs and nothing else. After Paychex acquired Paycor in late 2024, the company publicly reaffirmed its commitment to the naming rights, so the Paycor Stadium name remains in place heading into the renovation period.
What Public Ownership Means in Practice
For Hamilton County residents, owning a professional football stadium is a decades-long financial commitment. The 1996 half-cent sales tax funds both Paycor Stadium and Great American Ball Park, covering debt service, operations, maintenance, and the payments to Cincinnati Public Schools.2Hamilton County Ohio. Sales Tax The county’s $350 million renovation commitment under the 2025 lease will also draw from that revenue, and county leaders have said they do not plan to raise new taxes to cover it.
Holding the deed does give the county leverage a private landlord would not have. It negotiated a hard cap on renovation spending in the 2025 lease that was absent from the original agreement, and because it owns the property, it sets the terms when future leases are negotiated. If the Bengals ever left Cincinnati, the county would still own a riverfront stadium capable of hosting other events. Whether that tradeoff justifies the cumulative taxpayer investment is a question Cincinnati-area voters have been debating since 1996, and the 2025 renewal ensured the debate will continue through at least 2036.