The Cincinnati Bengals aren't going anywhere.
The organization announced Thursday that it came to an agreement with Hamilton County for a new lease at Paycor Stadium through June 2036, with 10 additional option years that could extend the deal through June 2046.
As part of the deal, Paycor Stadium, which opened in 2000, will undergo a $470 million renovation project. According to the Cincinnati Enquirer, the county's contribution will be capped at $350 million, and the Bengals will invest $120 million.
"This is a significant day for the Bengals and Hamilton County as we secure the team's future in Cincinnati," Bengals executive vice president Katie Blackburn said in a statement. "We thank the Hamilton County commissioners for supporting this agreement to ensure Paycor Stadium remains an excellent venue and a focal point for Cincinnati's riverfront.
"We are proud to call Paycor Stadium our home and to keep our future here in Cincinnati, where it belongs."
The Bengals were facing a June 30 deadline to extend their previous lease, which was set to expire next year.
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This article was originally published on www.si.com as Bengals Agree to New Long-Term Lease at Paycor Stadium.