Browns and the city of Cleveland reach $100 million agreement on stadium

CLEVELAND, Ohio (WOIO) – Mayor Justin M. Bibb and the Haslam Sports Group (HSG) announced a $100 million agreement between the city of Cleveland and the Cleveland Browns on Monday afternoon. Making way for the construction of the Browns’ new domed stadium in Brook Park

The money from HSG will go to the lakefront transformation and prepare the current lake stadium site for redevelopment.

I’m proud to deliver this historic deal to the residents of the City of Cleveland,” said Mayor Bibb. “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.”

“Because of Mayor Bibb’s leadership, and this monumental public-private partnership, we are accelerating the transformation of Cleveland’s lakefront while delivering a new world-class stadium and mixed-use development in Brook Park. It’s a win for the city, the region, and the fans,” said HSG Principal Partners Dee and Jimmy Haslam.

19 News reached out to Cuyahoga County for a statement. County Executive Chris Ronayne, a continuing opponent of the move to Brook Park, released the following statement:

“This $100M investment continues our lakefront momentum and economic resurgence,” Mayor Bibb said. This agreement puts the lakefront on the path to transformational development and the Browns on the path to a world-class facility in Brook Park. This is the right solution for the City and the region.”

Highlights of agreement

• HSG to pay the City of Cleveland the sum of $25 million by December 1, 2025.
• HSG to raze the current Huntington Bank Field in downtown Cleveland to a pad-ready and state at the Browns’ expense. This cost is estimated to be $30 million.
• Beginning on January 1, 2029, pay the City of Cleveland $5 million on or before January 1 of each calendar year until January 1, 2033, totaling $25 million over five years.
• Upon termination of the Lease, HSG to invest no less than $2 million per year over the next 10 years on a mutually agreed Community Benefit Projects totaling no less than $20 million.
• Parties to mutually support infrastructure plans related to road and air travel with respect to both the Brook Park stadium mixed-use project, the modernization of Cleveland-Hopkins International Airport, and the development of the Cleveland lakefront, including the redevelopment of the Burke Lakefront Airport property.
• City to support the continuing progress and timely completion of transformational Brook Park stadium and mixed-use development.
• Both parties will voluntarily dismiss all lawsuits with prejudice related to Browns Huntington Bank Field move to Brook Park, OH.

The parties will work collaboratively to finalize a formal settlement agreement, reflecting mutual support of both the lakefront and Brook Park development projects.

Copyright 2025 WOIO. All rights reserved.