The Cleveland Browns plan to move to a new $2.4 billion stadium in Brook Park, Cleveland Mayor Justin Bibb said in a news conference Thursday.
Bibb had been pushing for the Browns to stay in Cleveland and revamp the team’s current stadium. But Bibb says he was told Wednesday night by the leaders of the Haslam Sports Group that the team had decided to move to Brook Park, which Bibb said made him “deeply, deeply disappointed.”
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Cleveland Browns ownership will reportedly unveil a plan for a $3.6 billion new stadium and development in Brook Park in the coming weeks.
That plan includes $2.2 billion for the stadium and parking lots, with half of that coming from a tax capture fund at the site along with $1.4 billion in development surrounding the stadium that will be privately funded, according to the NEOtrans blog.
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Cleveland is one of the next cities asking for public funding for a renovation or new NFL stadium after the city councils of Charlotte and Jacksonville each approved more than $600 million in public funding.
Browns’ ownership, the Haslam Sports Group, has reportedly pitched Cleveland and Ohio state leadership on funding half of a potential $1.2 billion renovation of Cleveland Browns stadium or having state and local governments each pay $600 million of taxpayer funds – a total of $1.2 billion – toward building a new stadium in Brook Park.
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