Cleveland Browns secure $600m for $2.4bn stadium in Ohio state budget plan

The Browns unveiled plans last year for a new domed stadium with a retractable roof in Brook Park, a few miles to the southeast of downtown Cleveland.

The team has also retained the option for the renovation of its existing home at Huntingdon Bank Field, which is expected to cost at least $450 million. The lease on the site expires in 2028.

Cleveland Browns owner Haslam Sports Group bought the 176-acre site where the new stadium is planned in June.

The stadium would form part of a wider $3.6 billion mixed-use development including housing, hotels, office space and retail.

Haslam Sports Group would contribute $2 billion in private funding towards the project, in addition to the $600 million from the two-year Ohio state budget plan. The money is expected to come from unclaimed funds that stem from forgotten utility deposits and bank accounts.

HSG owners Dee and Jimmy Haslam said in a statement, “Our fans deserve a world-class facility, and we are committed to building a state-of-the-art enclosed stadium that resonates with Cleveland, highlighting our loyal and passionate fans and the Dawg Pound, while also incorporating innovation, bold design, and an immersive experience.

“The new enclosed Huntington Bank Field will be completely fan-centric, a first-of-its-kind design in the NFL, and a dynamic venue that draws visitors from across Ohio and beyond, for concerts and significant sporting events throughout the year. This premiere facility will anchor a major lifestyle and entertainment development and be a catalyst for one of Northeast Ohio’s largest economic development projects ever and something our community will be proud of and can enjoy for years to come. We appreciate the support of State leaders and their belief in this transformative project.”