Bengals investing in Paycor Stadium

[Bengalholic]

Major improvements coming to Paycor Stadium.

?: https://t.co/YPyci7lCIF pic.twitter.com/jHgKtxZaA8

— Cincinnati Bengals (@Bengals) May 21, 2024

 

https://www.bengals.com/news/cincinnati-bengals-paycor-stadium-upgrades-nfl-league-meeting

'The Bengals will make a significant private investment of $100-$120 million to upgrade Paycor Stadium, showcasing the Bengals' support and commitment to a successful future in Cincinnati.

With unanimous support from NFL Owners and the League's Finance Committee, the Bengals will launch major improvements to Paycor Stadium with construction running through 2026. Projects will be in fan-facing areas that include updated video and audio systems, renovations to suites and club lounges, concession upgrades and beautification projects.

"The Bengals are continuing to invest in our future here in Cincinnati," said Bengals Executive Vice President Katie Blackburn. "We are lucky to have a great stadium and we are proud to invest in this great asset to help make it a best-in-class facility. We love our fans and can think of no better way to celebrate our 25th season in Paycor Stadium than to announce these major improvements that will make the gameday experience even better."

Stadium improvements are a necessary part of a long-standing plan to keep a successful team in Cincinnati and keep the Bengals competitive across the NFL. This announcement takes the recent team investment to approximately $150 million over the past few seasons, including $40 million in private investment for projects that include the IEL Indoor Facility, a new locker room, an overhauled and expanded training room, new ribbon videoboards and upgrades to concessions and the Bengals Pro Shop.'

[BengalsLUFC]

Eases the burden on the tax payer but slams the added increases on to the fans that go to games.


Expect to pay more for tickets, beer etc.

100 million doesn’t go a long way anymore either so don’t expect massive changes.

[Truck_1_0_1_]

(05-21-2024, 06:33 PM)BengalsLUFC Wrote: Eases the burden on the tax payer but slams the added increases on to the fans that go to games.


Expect to pay more for tickets, beer etc.

100 million doesn’t go a long way anymore either so don’t expect massive changes.

https://en.wikipedia.org/wiki/Mosaic_Stadium

After the Rogers Centre and maybe BC Place, Canada's most beautiful/practical/useful stadium ever made.

And that was 278 mil CAD, not USD.

100 mil will go A LONG way.

EDIT** The Jays also did a gargantuan reno at the Rogers Centre, where essentially, the entire stadium save for the structure and the roof were renovated, including all 50,000 seats, the bullpens, the fences, the turf, the videoboards and sound system, etc. and that was all $300 mil CAD (essentially, $220 mil USD).

Paycor will be fine.

[Isaac Curtis: The Real #85]

The upgrades are a good thing and much needed.

However, I'd rather they had invested in Reader, IOL help, a legit CB1, or locked up Tee at a lower cap figure to free up space.

[Bengalbug]

(05-21-2024, 10:00 PM)Isaac Curtis: The Real #85 Wrote: The upgrades are a good thing and much needed.

However, I'd rather they had invested in Reader, IOL help, a legit CB1, or locked up Tee at a lower cap figure to free up space.

This is getting old

Rankins and two early DT rookies is likely a better investment than a coming off injury reader.
I’d say CTB is arguable a top 32 CB in the league. What do you mean by legit? Top 5, top 10? If so, who would you have recommended they sign as a FA?
They added depth for the OL overall. There is some flexibility. I’d like someone to push/challenge volson, but the other 4 spots are pretty solid for the 2024 campaign.

[*bfine32*]

(05-21-2024, 10:00 PM)Isaac Curtis: The Real #85 Wrote: The upgrades are a good thing and much needed.

However, I'd rather they had invested in Reader, IOL help, a legit CB1, or locked up Tee at a lower cap figure to free up space.

You realize the difference between Salary Cap and stadium updates...........don't you?

[NATI BENGALS]

That is a lot of money getting invested into the stadium. Good to see considering the ticket prices  

There have been some price increases since I was able to buy a Jungle Pass (which was season tickets) in 2018 for $200.

We should be able to do a lot of good work with that kind of budget.

[Ell Prez]

I guess the whole “bengals don’t have money” narrative can be put to rest now.

The Browns got money, and lots of it.

[higgy100]

(05-21-2024, 10:41 PM)bfine32 Wrote: You realize the difference between Salary Cap and stadium updates...........don't you?

Obviously, he doesn't.

[Ell Prez]

(05-22-2024, 10:29 AM)higgy100 Wrote: Obviously, he doesn't.

His point is still valid as we are currently under the cap, and could have signed reader with cap space to spare.

[WeezyBengal]

100 million of the 1 billion needed for total renovations. That's 1/10th of the actual investment needed.

Sorry, but I'm not going to praise them over this until the FO ponies up a SUBSTANTIAL amount of money to help with the renovation.

[PCB Bengal Fan]

(05-22-2024, 10:32 AM)Ell Prez Wrote: His point is still valid as we are currently under the cap, and could have signed reader with cap space to spare.

"IF" Reader plays like his old self when he comes back in week 12 then we can complain, otherwise it's pointless to argue about a guy that never played a full season for us.

[QueenCity]

Lets see sign Reader or make sure the Bengals stay in Cincinnati for a long long time.

I know my vote.

Not that these two pools of money have anything to do with each other.

[Bengalbug]

(05-22-2024, 10:37 AM)WeezyBengal Wrote: 100 million of the 1 billion needed for total renovations. That's 1/10th of the actual investment needed.

Sorry, but I'm not going to praise them over this until the FO ponies up a SUBSTANTIAL amount of money to help with the renovation.

That’s an exaggeration. The highest amount published was $500m over a 20 years period, from 2022.

Considering the $100m, that the FO is kicking in, is likely to be spent by 2026, it’s a huge investment. Not all of the $500m is needed by 2026, this is a 20 year long range capital plan.

lol… the bengals literally cannot win with some folks.

[Bengalbug]

(05-22-2024, 10:46 AM)QueenCity Wrote: Lets see sign Reader or make sure the Bengals stay in Cincinnati for a long long time.

I know my vote.

Not that these two pools of money have anything to do with each other.

Yes, agree. But the two things are so far unrelated that anyone trying to draw parallels between roster construction and stadium renovation I have to seriously question.

The bengals lease is due up in 3 years. This is a great sign as I highly doubt the bengals will invest $100m over the same 3 years, just to walk away. The bengals are literally putting their money where their mouth is.

[higgy100]

(05-22-2024, 10:32 AM)Ell Prez Wrote: His point is still valid as we are currently under the cap, and could have signed reader with cap space to spare.

Love the guy but he played a total of 44 games in 4 seasons. He's got the same nasty injury he had 3 years ago, will probably miss half of this season and he'll be 30 years old very soon. From the Bengals perspective, and probably many other teams, way too much uncertainty to pay that much and less of a chance he's the same player.

[WeezyBengal]

(05-22-2024, 10:46 AM)Bengalbug Wrote: That’s an exaggeration.  The highest amount published was $500m over a 20 years period, from 2022.

Considering the $100m, that the FO is kicking in, is likely to be spent by 2026, it’s a huge investment.  Not all of the $500m is needed by 2026, this is a 20 year long range capital plan.  

lol… the bengals literally cannot win with some folks.

So 1/5th of it. Cool. 

Where is the other 400 million coming from? Likely 100 million from the NFL. That leaves 300 million. 

[Bengalbug]

(05-22-2024, 11:02 AM)WeezyBengal Wrote: So 1/5th of it. Cool. 

Where is the other 400 million coming from? Likely 100 million from the NFL. That leaves 300 million. 

Do you understand capital planning? Just because you have identified $500m you need over 20 years doesn’t mean you need it all now. This would be what you could call round 1. In 2-3 years, once the lease is agreed upon, likely another round of funds released. This is a fairly common business practice.


What is Long-Range Capital Planning?
At its core, long-range capital planning is the process of identifying, prioritizing, and budgeting for major infrastructure projects and capital expenditures that will be required in the future. This typically spans a horizon of five to ten years, or even longer, and takes into account both current needs and future growth.

Why is it Important?
Forward Thinking & Proactivity: Instead of reacting to problems as they arise, long-range planning allows for a proactive approach. By anticipating future challenges, the department can allocate resources efficiently, reduce crisis-driven spending, and ensure the timely replacement or renovation of aging infrastructure.
Financial Stability: Infrastructure projects are costly. By planning and budgeting for these expenses years in advance, the department can establish funding strategies, whether through grants, bonds, or other financing options. This spreads out costs, avoids sudden spikes in expenditure, and can lead to better financial rates and terms.

[Bengalbug]

It’s also worth noting that the Bengals spent $32,000,000 of the $39,000,000 renovation that is currently underway at PBS. This is a $132,000,000 commitment that will take us through 2026.

For those saying this is not nothing, this is paramount and unprecedented for this particular franchise.

[WeezyBengal]

(05-22-2024, 11:09 AM)Bengalbug Wrote: Do you understand capital planning?  Just because you have identified $500m you need over 20 years doesn’t mean you need it all now.  This would be what you could call round 1.  In 2-3 years, once the lease is agreed upon, likely another round of funds released.  This is a fairly common business practice.


What is Long-Range Capital Planning?
At its core, long-range capital planning is the process of identifying, prioritizing, and budgeting for major infrastructure projects and capital expenditures that will be required in the future. This typically spans a horizon of five to ten years, or even longer, and takes into account both current needs and future growth.

Why is it Important?
Forward Thinking & Proactivity: Instead of reacting to problems as they arise, long-range planning allows for a proactive approach. By anticipating future challenges, the department can allocate resources efficiently, reduce crisis-driven spending, and ensure the timely replacement or renovation of aging infrastructure.
Financial Stability: Infrastructure projects are costly. By planning and budgeting for these expenses years in advance, the department can establish funding strategies, whether through grants, bonds, or other financing options. This spreads out costs, avoids sudden spikes in expenditure, and can lead to better financial rates and terms.

You're missing the point of where the money's coming from. Just because they have an initial investment of 100 million doesn't mean they are going to invest further money into "capital planning".