Paycor Stadium in Cincinnati is set to receive $184m (£138.5m/€162m) in improvements following an agreement reached by Hamilton County and the Cincinnati Bengals.
The deal states that the National Football League (NFL) team, which has played at Paycor Stadium since 2000, would pay $120m for the works and the county would pay $64.5m.
Under the agreement, the Bengals are due to renovate club lounges and suites, as well as improve concessions.
The county, meanwhile, would install new escalators, refurbish the elevators, and upgrade the power grid and other technology.
It also states that the two parties must reach a long-term agreement regarding renovation to the 65,515-capacity stadium by June 30.
“The $120 million private investment from the Bengals and the NFL marks an unprecedented commitment in the history of Paycor Stadium,” said Hamilton County Commission President, Denise Driehaus.
“Never before has the NFL invested in our public asset, and never before have the Bengals invested so much.”
Driehaus added that conversations with state officials will continue as the county and the Bengals have asked Ohio to allocate $350m for Paycor Stadium in its two-year state budget.
Commissioners are due to vote on the agreement next week.
If approved, construction could begin as early as 2026 with both sides starting design, engineering and preconstruction work this year.
It would be the first phase of an $830m renovation project for Paycor Stadium, with three to four phases rolled out through 2029 at an expected cost of $210m per phase.
In October, it was reported that investigations into potentially adding a dome to fully enclose Paycor Stadium had found that such a project would cost up to $1bn. Hamilton County in September set out a $1.2bn redevelopment plan that aims to transform the home of the Bengals into a more campus-style environment.
