WHITE SULPHUR SPRINGS, West Virginia (92.3 The Fan) – The City of Cleveland has made the Cleveland Browns an offer.
We wait to see if the team can refuse it.
Cleveland Mayor Justin Bibb wants a response by August 12.
Bibb proposed up to $461 million in financing and a new 30-year lease extension in response to the Browns proposal for a $1.2 billion overhaul to the stadium which opened in 1999.
“We have worked closely with the Haslam Sports Group over many months and developed a competitive, thoughtful, and comprehensive package that we believe respects taxpayers and protects the city’s budget while enhancing the Browns’ fan experience,” Bibb said in a statement.
Bibb has maintained that any financial commitment from the city would not include any additional tax burdens on city residents and the proposal submitted to the Browns aligns with that pledge.
“I was elected to fight for Cleveland – its residents, its businesses, and its future,” Bibb said. “I am committed to keeping the Browns here at home, as key partners in our lakefront transformation.”
The breakdown in funding over the 30-year new lease term is as follows: $227 million in increases in admissions tax revenues, $120 million in Cuyahoga County sin tax revenues and $20 million in existing capital reserves. The city has also offered to turn the Willard Garage and the Muni Lot over to the Browns for their exclusive use on game days and event days but the parking revenues, which are expected to generate $94 million, would go towards capital repairs and improvements.
Bibb also proposed that the annual $250,000 in rent currently paid under terms of the existing lease would be waived but the team would assume the $1.3 million cost in insurance and property tax payments. The city said this adjustment “aligns with the lease agreements held by the Guardians and Cavs, making it consistent across sports franchises in Cleveland.”
In his letter to the Haslams outlining the proposal Bibb said, “We are unified in our belief that transforming the current facility is unquestionably in the best interests of Cleveland and Cuyahoga County. We do not believe any public financial support should responsibly be made available for development of a stadium outside of the City of Cleveland.”
The Browns have pitched both a renovation and new $3.8 billion Brook Park dome and development project to state and local officials and a decision on which project the team will move forward with is expected in the coming weeks.
“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,” Browns chief operating officer Dave Jenkins said in a statement. “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. 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.”
Earlier this year the Haslam Sports Group secured a purchase option agreement for 176 acres of land in Brook Park where they would build a 65,000 seat dome with a capacity of 67,500 for football.
The proposal announced Thursday by the city of Cleveland means a decision to renovate or build a dome could be coming from the Browns soon.