City of Cleveland pledges $461 million toward Cleveland Browns Stadium renovations

WHITE SULPHUR SPRINGS, W.Va. — The city of Cleveland put forth a proposal on Thursday that would pledge $461 million toward a project to renovate Cleveland Browns Stadium.

The proposal is arguably the most aggressive the city has made in what has been a developing situation to keep the Browns playing on the lakefront after its current lease expires at the end of 2028. The Browns have acknowledged they're exploring two separate options, either to renovate the current site or build a new domed stadium on a 176-acre parcel of land in Brook Park.

“We are implementing a bold vision for lakefront development, and the Browns have been an essential fixture on our lakefront for decades. But our first priority is always our residents,” Bibb said in a release from the city. “Having the Browns play here is integral to our city’s identity and community spirit. This initiative must go beyond the Browns and be about what’s best for downtown, the neighborhoods, the suburbs, and the region.”

According to the city's proposal, terms include:

• "$367 million ($227 million from increases in admission tax revenues, $120 million from Cuyahoga County sin tax revenues, and $20 million in existing stadium capital reserves) over the 30-year lease term, with a five-year renewal option"
• "The city will turn the Willard Garage and the Muni Lot over to the Browns for their exclusive use on game days and event days. Parking revenues are expected to generate $94 million for capital repairs and improvements"
• "Under the current lease, the city covers $1.3 million in annual property taxes and insurance, while the Browns pay $250,000 in rent. Under the proposed new lease, rent will be waived for the Browns, but they will assume responsibility for the insurance and tax payments. This adjustment aligns with the lease agreements held by the Guardians and Cavs, making it consistent across sports franchises in Cleveland"

The city also indicated that the proposal does not include any potential contributions from either Cuyahoga County or the state of Ohio. It also stated that the city "is committed to using revenues that would not exist but for this project."

“We appreciate the latest proposal from Mayor Bibb and his administration and will be following up with the City of Cleveland to better understand the details while we are still reviewing it," a statement from the Haslam Sports Group read. "As we have said consistently throughout this process, we continue to communicate and collaborate with the cities of Cleveland and Brook Park, Cuyahoga County, and the State of Ohio on a long-term stadium solution that creates a world-class experience for our fans and positively impacts Northeast Ohio. We are working diligently to comprehensively examine all options to identify the best path for not only our fans, but also Greater Cleveland and Northeast Ohio.

"Our region deserves to be thought of as evolving, forward-thinking, and innovative, so we need to think boldly and creatively in this process," the statement continued. "It’s important to reiterate that the goal is to come up with the best experience we can for our fans while creating a long-term, sustainable stadium solution that drives an impact that benefits Cleveland, the Northeast Ohio region, and the entire State of Ohio. We will continue to provide updates as we have more information to share.”

The cost to potentially renovate the stadium has been priced at roughly $1 billion dollars. The cost of a new stadium in Brook Park has been conservatively priced at $2.4 billion.

The Haslams spoke last Saturday during the Browns training camp at The Greenbrier in West Virginia. At the time, both indicated they had not made a decision on which stadium plan they were going to put forward, but said they were trying find the "right answer" for the fans

"If you ask what's the right answer, the right answer is what is best for our fans, OK," Jimmy Haslam said. "That is driving 90% of the decision making, what's best for our fans. These are long-, long-term decisions. This isn't a five-year decision, a 10-year decision, it's at least a 20-year decision, maybe more. So what is best for our fans will ultimately drive what we do."

The land the Haslams have optioned in Brook Park, which was formerly the site of two Ford Motor plants, is situated in an area bordered on three sides by State Route 237 to the west, Snow Road to the south and I-71 to the east. The Norfolk Southern railroad tracks run between the property and Ohio 237.

The Browns have called the current lakefront site their permanent home since Cleveland Municipal Stadium sat at the location in 1946. The current stadium was opened in 1999 when the expansion franchise began play following a three-year hiatus when the original franchise moved to become the Baltimore Ravens.

Chris Easterling can be reached at ceasterling@thebeaconjournal.com. Read more about the Browns at www.beaconjournal.com/sports/browns. Follow him on X at @ceasterlingABJ

This article originally appeared on Akron Beacon Journal: City of Cleveland pledges $461 million toward Cleveland Browns Stadium renovations