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Bengals Are Done Waiting for County to Come to Agreement on Stadium Concessions

Downtown Cincinnati

Okay. I'm going to try to make sense of something that doesn't make much sense to me. I am in no way, shape or form a financial genius. I would describe myself as a financial half-wit. I can barely keep track of the money flying out of my wallet let alone what an entire county is doing with their money. The worst thing is I find wallet empty all the time and I never can find anything that I bought. Oh right.... beer. So, before you read any further, remember that I'm not qualified to write about any of this. Here goes.

A while back, realizing the financial troubles that Hamilton County was in, the Bengals sent a letter offering to make a deal that would save the county some money and by some money, I mean $40 million. Of course, the Bengals weren't just acting out of the kindness of their own heart, they wanted something in return: for their lease to changed to a "team option" in 2017 which would allow them to leave the county. They also wanted a couple other things from the county in exchange for the money. They want Hamilton Country to relinquish their luxury suite to the team, to give up the county's portion of "other event revenue" and to give up whatever remaining interest that the county has in naming rights. All of that for $40 million? Hmmm.

Star-divide

Well, for $40 million I would get a tattoo that says "Cincinnati is awesome" in pink across my forehead without a second thought and probably a whole lot more. I'm sure that the county would love to have $40 million too but they don't seem to be the face tattoo types and of course, their biggest concern is making any agreement that would allow the Bengals to pack up their bags and leave town.

It's been 10 months since the letter was sent and there still has not been a formal response to the Bengals offer and Mike Brown and the rest of the front office are beginning to grow impatient.

Not only are there no agreements in place, a lawyer for the Bengals said the team and the county haven't talked about possible concessions - which all three Hamilton County Commissioners say are a vital part of the plan to plug a deficit projected to top $700 million by 2032 - in 10 months.

Even though the county doesn't want the Bengals to leave, some county officials see that the money out-weighs the risk of allowing Mike Brown to threaten Hamilton County with leaving.

Commissioner Greg Hartmann, a Republican who is in the board's minority, said he was angry about the revelation that there have been no talks since October.

"I really think somebody is not doing their job in not touching base with the Bengals for 10 months and I blame the administration," Hartmann said.

Commissioner Pepper said the county needs answers now about concessions and has expressed his frustration to the administration with how long it's taking.

Well, I have no idea what half of this means and really, I don't care. All I care about is that the Cincinnati Bengals stay the Cincinnati Bengals long after 2017. If that means that the city says no to $40 million then that's what it means. If the city says yes to the money then they should do whatever they can to keep Mike Brown happy when 2017 approaches. I'm a Bengals fan, not a financial adviser.

Also, please, if I got something wrong in my attempt to translate what was Greek to me into some comprehensible, let me know.

Poll
Should Hamilton County make a deal with the Bengals?
Yes, we need the money
44 votes
No, I don't want the Bengals to have the chance to leave
185 votes
I have no idea what you're talking about
40 votes
You have no idea what you're talking about
14 votes

283 votes | Poll has closed

Comment 5 comments  |  0 recs  | 

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i have no idea either

But my initial reaction is that 40 million really isn’t that much money in terms od county wide tax revenue over the next 7 years. And if the county has to give up revenue flow plus risk having the bengals demand an unfavorable arrangement in 7 years to keep the team basically you are robbing peter to pay paul (actually his son mike) and mike may take the money and run.

by goffchile on Jun 30, 2010 6:37 PM EDT via mobile reply actions  

Mikey Boy is trying to stick it right to the county

and the Tax payers too. Your right, 40 million dollars is nothing compared to what can be made in the future for the county. As to letting MB have even more leverage, he can bite me. He thinks the tax payers owe him something and we owe him nothing. This is nothing but greed b/c he thinks he ‘s GOD. He’ll pack up and go in 2030 so why let him go in 2017. Then the county and the tax payers will definitely be screwed if he leaves in 2017. The stadium will not be paid off until 2030 and without him being here after 2017 we’re F**KED.

by WHYUS!! on Jun 30, 2010 7:57 PM EDT reply actions  

2030?

To think that Mikey could still be team president in 2030 makes me shudder uncontrollably. Or will it be his daughter by that time? Even scarier, if Hard Knocks is anything to go by.

by MrMcLargeHuge on Jul 1, 2010 9:35 AM EDT up reply actions  

It is the county's fault for signing the lease in the first place

Its like a car dealer selling you a brand new car really cheap, then 5 years later coming back and begging you to give them more money for it.

Then it comes to be that the soothing light at the end of your tunnel, is just a freight train coming your way...

by btcoop71 on Jun 30, 2010 8:17 PM EDT reply actions  

Not a good idea.

How much does the county make in tax revenue every game, between ticket prices and alcohol, not to mention all the stuff people buy to host gamedays at their homes? In the long run, it’s a much better idea, financially and emotionally, to make sure the Bengals stay here, and not in Los Angeles.

by MrMcLargeHuge on Jul 1, 2010 9:33 AM EDT reply actions  

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