The Cincinnati Bengals have changed the name of their iconic football stadium.
Formerly known as Paul Brown Stadium, the Bengals new home will now go by the name of Paycor Stadium, the team announced on Tuesday.
The Bengals sold the stadium naming rights to Cincinnati-based company Paycor, which specializes in human resources software.
“This is a move that I think my father would have agreed to. He was always for what is best for the football team,” Bengals president Mike Brown said in a statement. “This partnership allows the Bengals to continue to compete at the highest level in the NFL and exemplifies our long-term commitment to the community.”
While the financial terms of the deal were not disclosed, the agreement is reportedly for 16 years.
Bengals Capitalize on 2021 Super Bowl Run
The decision to change the name of Paul Brown Stadium comes on the heels of one of the best seasons in franchise history.
In 2021, the Bengals won their first AFC North title since 2015 and made their first Super Bowl appearance in 31 years before losing 23-20 versus the St. Louis Rams.
Since then, the franchise also sold the naming rights to the team’s practice facility and signed Altafiber as a major corporate sponsor.
Paycor Stadium Rights Deal Improves Bengals’ Franchise Value
Along with signing Altafiber and renaming the practice facility, the stadium naming rights deal is expected to boost the overall value of the franchise.
Prior to the deal, the Bengals had the lowest projected value among all 32 NFL franchises at just $2.84B.
The details of the revenue split from the team’s original stadium lease with Hamilton County remain intact, according to the Cincinnati Enquirer.
According to the terms of the lease, the Bengals will receive the first $60.5 million and 70% of the remaining revenue thereafter, while the county will receive the other 30%.
With quarterback Joe Burrow back under center in 2022, the Bengals are expected to be contenders in the AFC once again this season.
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