The Cincinnati Bengals have officially signed a naming rights deal that will change the name of Paul Brown Stadium to Paycor Stadium.
Paycor, a company headquartered in Cincinnati which went public in 2021, has acquired the new stadium name in a 16-year deal
How many other suitors the Bengals had isn’t known, but it seemed that, once they were open for business, the options were there. Choosing a Cincinnati-based company should feel like a small win for those sad over the loss of PBS.
Adam Schefter along with a slew of other reporters noted the change. The team also announced the change on Tuesday morning as well.
The home of the Cincinnati Bengals no longer is Paul Brown Stadium and now will be called Paycor Stadium.— Adam Schefter (@AdamSchefter) August 9, 2022
Paycor, valued at around $5.6 billion, are a Saas (software-as-a-service) company that specializes in human recourses management for small and medium-sized companies. They were founded in 1990 and are located in the Norwood area.
Though this change is effective immediately, full signage won’t be fully integrated throughout the venue by the time the season begins. New zoning codes for the city need to be approved at a later meeting as well for stadium-sized signs.
As for PBS, the original name will surely be missed. Many memories, especially the team’s 2021 playoff win over the Las Vegas Raiders, will stick with fans. But this change is designed to help the team increase their liquidity with a new stream of revenue coming in.
How much money is coming in for the Bengals? Based on Cincinnati City Hall reporter Sharon Coolidge’s calculations, they’ll incur the first $60.5 million of the deal with the next 70% of revenue to follow. Hamilton County would get the other 30%.
From the lease, the Bengals would get the first $60.5 million and then 70% of the remaining revenue. The other 30% would go to Hamilton County. The calculation is based on an increase of 6% per year from a base $16.67M for the Bengals starting in 2000. https://t.co/sxFt6KOqTu— Sharon Coolidge (@SharonCoolidge) August 9, 2022
We’ll see how much it impacts the next few years when Joe Burrow, Ja’Marr Chase, and Tee Higgins need new contracts with tons of guarantee money upfront.
That said, the name Paul Brown Stadium will live in the hearts of fans forever.