Latest news with #BrownsStadium
Daily Mail
02-07-2025
- Business
- Daily Mail
NFL team finally given green light to build new $600 million stadium
The Cleveland Browns have been given the go-ahead to begin building a brand new $600million stadium. The news comes after Ohio Governor Mike DeWine signed a two-year, $60 billion operating budget that flattens the state's income tax and also set aside funds for a new Browns stadium. In response, the Browns said the budget approval was a 'tremendous milestone for our organization' as they look to move on from the Huntington Bank Field. Owner and CEO Jimmy Haslam previously requested taxpayer support to help construct a $2.4 billion domed stadium 15 miles south of Cleveland in the suburb of Brook Park. A lease at the existing Huntington Bank Field expires at the end of the 2028 season. A renovation of that structure was projected to cost more than $450 million, according to the team's ownership group. Haslam said in an open letter to Browns fans on Tuesday that 'the new enclosed Huntington Bank Field will be... a first-of-its-kind' facility in the NFL. The letter read: 'We respect the firm commitment and leadership that Governor DeWine, and the Ohio Senate and House have shown in their collaborative work to find a responsible way to support such a transformative project, one that will create a generational impact for our region and the State. 'Our fans deserve a world-class facility, and we are committed to building a state-of-the-art enclosed stadium that resonates with Cleveland, highlighting our loyal and passionate fans and the Dawg Pound, while also incorporating innovation, bold design, and an immersive experience. 'The new enclosed Huntington Bank Field will be completely fan-centric, a first-of-its-kind design in the NFL, and a dynamic venue that draws visitors from across Ohio and beyond, for concerts and significant sporting events throughout the year. 'This premiere facility will anchor a major lifestyle and entertainment development and be a catalyst for one of Northeast Ohio's largest economic development projects ever and something our community will be proud of and can enjoy for years to come. We appreciate the support of State leaders and their belief in this transformative project.' Haslam said the group plans to continue investing in Northeast Ohio and denied tapping into state tax-revenue streams. 'The state's construct is a performance grant towards the stadium that will be paid back with incremental revenue generated by the project above a current state revenue baseline,' he said. 'There has been no ask by the Haslam Sports Group to pledge existing tax revenue streams that would take away from other pressing community needs to fund this project. This economic development project will not only pay back but also provide all stakeholders an additional return on their investment.'
Washington Post
26-06-2025
- Business
- Washington Post
Ohio budget bill with Browns stadium funding, LGBTQ+ restrictions heads to Gov. Mike DeWine
COLUMBUS, Ohio — The two-year, $60 billion operating budget sent to Republican Gov. Mike DeWine calls for flattening Ohio's income tax and setting aside $600 million in unclaimed funds for a new Cleveland Browns stadium , among hundreds of spending decisions. He has until Monday to sign it and issue any line-item vetoes.
New York Times
26-06-2025
- Business
- New York Times
Browns get green light to build indoor stadium as state budget gets approved
The Ohio legislature has cleared the way for the Cleveland Browns to build the team's long-planned indoor stadium in suburban Brook Park. On Wednesday, the state Senate and House of Representatives separately approved a budget that includes $600 million for the new indoor Browns stadium. The team announced last year its full intention to build in Brook Park, which is not far from the training facility in Berea and about 15 minutes southwest of the current stadium in downtown Cleveland. Advertisement The budget includes a new Sports and Culture Facility Fund, which will take $1.7 billion from the state's $4.8 billion in unclaimed funds. The Browns will get $600 million and pay it back via tax revenues from the Brook Park project. The remaining $1.1 billion will be devoted to future facility projects and upgrades, including a likely renovation of the Cincinnati Bengals' home stadium. The Browns and the city of Cleveland had been battling over the proposed move, and both the city and the franchise had filed suits regarding the application of the 'Modell Law,' a 1990s law meant to keep teams from leaving the state. But a late addition to the newly passed state budget was an updated version of the Modell Law that should effectively end the city's lawsuit against the Browns because they're remaining in Cuyahoga County. The Browns and Haslam Sports Group, headed by team owners Jimmy and Dee Haslam, had been adamant that there was no suitable location within city limits and had been confident they'd eventually be cleared to move. Wednesday evening, WKRK 92.3 The Fan in Cleveland reported that the Browns planned to close on the 176 acres of land adjacent to Cleveland Hopkins Airport for their new stadium and entertainment complex by the end of the week. That would indicate the Browns are confident they're headed for Brook Park. The Haslam Sports Group had pledged $1.2 billion in private funding plus potential overruns. The estimated cost of the new facility is $2.4 billion. Ohio Gov. Mike DeWine can veto any piece of the budget before it has to be finalized on June 30. DeWine had originally proposed doubling the state tax on sports betting to raise money for new stadiums instead of pledging $600 million in state bonds or going with the unclaimed funds plan. Northeast Ohio attorneys Jeff Crossman and Marc Dann announced Tuesday that they would file a class action suit on behalf of owners of the state's unclaimed funds if the new budget passed. Crossman and Dann said in a news conference Wednesday that the plan to take private property without permission amounts to theft and is unconstitutional. Advertisement Assuming full clearance, the new stadium will open for the 2029 season — just after the expiration of the lease on the current stadium. The Haslams previously said they planned to begin construction in early 2026 if the state budget included the $600 million for the new stadium and what the Haslam Sports Group has called 'a sports and entertainment district.' In January, Cleveland Mayor Justin Bibb called the Brook Park project 'the Haslam scheme' and said it was a 'ploy' that would 'raise your taxes, make it more expensive for you to attend games and steal events away from downtown.' The city wanted to renovate the current stadium, which opened in 1999 on the site of the old Cleveland Municipal Stadium. The Browns have consistently called the renovation plan 'a short-term fix' and an irresponsible approach to finding a solution.
