Paul Brown Stadium – NFL Cincinnati Bengals


Stadium Development Consulting

B&D serves as the Sports Facility consultant to the Ohio Cultural Facilities Commission, the body through which the State of Ohio participates in funding sports facilities at the major league levels. In this role we have provided consulting on the market and financial feasibility, economic impact potential, design, and construction of almost every major league and minor league professional sports facility developed in Ohio since 1996. Our function is to identify the sources of risk in each project, and develop strategies to mitigate those risks. In 1999 we completed an economic and fiscal analysis of the financial feasibility of Paul Brown Stadium, home to the NFL’s Cincinnati Bengals. The project’s financing plan was straightforward, but we highlighted a number of capital cost risks and noted that they complicated funding for the Paul Brown Stadium and that of the new Cincinnati Reds Stadium. We recommended that the state’s contribution be tied to a fixed amount based on original budget projections, leaving the state unaffected by the later increasing project cost overruns. We recommended approval of state funding that resulted in the new $450 million stadium.

Critiquing the Deal

Presented by Chris Dunlavey at the 2001 CUED “If You Build It, Will They Come?” Conference.