$100M deal ends yearslong Browns stadium saga in Cleveland
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Browns owner Jimmy Haslam. Photo: Nick Cammett/Getty Images
Money may not buy everything, but a $100 million agreement between the city of Cleveland and Haslam Sports Group has resolved one of the biggest Northeast Ohio soap operas in recent memory.
Why it matters: The agreement removes a major hurdle in the Browns' plan to move out of downtown for the second time in franchise history.
- It also provides financial support for the city's future development plans, including the lakefront transformation.
Catch up quick: Mayor Justin Bibb announced the agreement alongside Browns owners Jimmy and Dee Haslam during a Monday press conference.
- The deal ends the battle over the Browns building a dome stadium in Brook Park in 2029, which has involved multiple lawsuits (that will now be dismissed) and public discourse.
What they're saying: "I'm proud to deliver this historic deal to the residents of the City of Cleveland," Bibb said in a statement.
- "My administration, with the Haslams' support will finally unlock the full potential of our lakefront, benefiting all residents and attracting new investment to the city."
- The Haslams added, "We will always be the Cleveland Browns."
How it works: The $100 million from the Haslams will go toward the demolition of the current stadium, lakefront developments and other city projects.
- The Haslams agree to pay the city $25 million by Dec. 1, 2025, and then $5 million annually between 2029 and 2033.
- The Haslams will also pay $2 million annually over 10 years, which will go toward "mutually agreed Community Benefits Projects."
Between the lines: Haslam Sports Group can now focus on the construction of a new $2.4 billion stadium and sports/entertainment complex over 176 acres in Brook Park.
- The city can turn its attention to its lakefront plans, which include developing a mixed-use district along the Cuyahoga Riverfront and building a pedestrian bridge to North Coast Harbor.
What's next: A final settlement still must be approved by Cleveland City Council.
- Council President Blaine Griffin told Cleveland.com he was "disappointed" by the deal, which he learned about just before Monday's press conference.