Cleveland Browns sign stadium naming rights deal with Huntington Bank
Add Axios as your preferred source to
see more of our stories on Google.
Cleveland Browns head coach Kevin Stefanski. Photo: Nick Cammett/Diamond Images via Getty Images.
The Cleveland Browns on Tuesday announced a stadium naming rights deal with Huntington Bank, which will be effective when the team kicks off its season this Sunday.
The big picture: The 20-year deal would cover the current stadium, which opened in 1999 and doesn't have a corporate name, plus any new stadium that could be built.
- The facility will be called Huntington Bank Field.
Catch up quick: The venue has been operating under the name Cleveland Browns Stadium, after the team and Akron-based FirstEnergy Corp. mutually agreed to end their stadium naming rights agreement in 2023 after 10 years, in the wake of the House Bill 6 scandal.
- Huntington Bank is based in Columbus, Ohio, and reports $196 billion in assets under management. It was founded in 1866.
- The bank also sponsors a club at the stadium for the Columbus Crew soccer team, which is also owned by Browns owners Jimmy and Dee Haslam.
- Huntington chairman, president and CEO Stephen Steinour said the Browns deal represented the largest investment in the bank's history. Though, specific financial details were not released.
What they're saying: Jimmy Haslam said during Tuesday's press conference announcing the deal that the Browns and Huntington have the "same type of culture and the same type of values."
- Steinour added: "Whether in the existing stadium or a new one, the Browns' commitment to Northeast Ohio will continue to spur significant economic growth and development for years to come, and we are excited to be a part of that future."
The intrigue: The news comes amid uncertainty surrounding the Browns' stadium plans.
- The Haslams are deciding between building a new domed stadium in Brook Park, which would cost more than $2 billion, or undergoing a $1.2 billion renovation to the current facility.
- They are reportedly seeking 50% public funding for either project.
- A potential Browns move would complicate the city's lakefront master plan, which includes building a land bridge to connect downtown malls to the lakefront in front of Huntington Bank Field.
Between the lines: The Haslams did not provide an update on their decision or take questions from reporters during the press conference.
This story is being updated.
