BY GEOFF HOBSON
The Cincinnati Enquirer

If the Reds and Hamilton County agree a delay in stadium construction would benefit both sides, the county could offer financial compensation for loss of revenue.

Principals for the Reds and county wouldn't rule out that option Wednesday if the club can't open a new park until 2002 or 2003. But they wouldn't comment, either, each side characterizing lease negotiations as private and progressing.

The Reds, who have claimed to be losing $10 million per year for the past few seasons, have said they need cash to stay competitive with big-market teams.

''When it comes to the Reds, there are all kinds of options on the table,'' said David Krings, Hamilton County administrator and chief stadium negotiator.

A guaranteed revenue stream has already been used with Cincinnati's other pro sports team.

When the NFL Bengals redid their lease with the city of Cincinnati three years ago, the city agreed to pay the Bengals $2.75 million in 1994, $3.5 million in 1995 and $4 million for 1996 and beyond to compensate for lack of stadium revenue.

The city had to pay because the Reds vetoed the Bengals' bid to generate revenue by putting 60 to 90 private boxes in Cinergy Field for the 1994 season.

If the Reds decide to put their ballpark between Riverfront Coliseum and Cinergy under the so-called Wedge proposal, the Bengals could use the same veto power contained in the Cinergy lease to thwart construction until 2000 because of possible parking and access problems.

''We have the same fears,'' said Reds Managing Executive John Allen. ''We wonder how it might impact us, and we've got more than 10 games a year there.''

Bengals President Mike Brown says staggered instead of simultaneous construction would cut labor costs.

A delay in Reds construction at the Coliseum-Cinergy site also would allow for renovation of Fort Washington Way.