The Browns have been looking at options for a new or renovated stadium and the city of Cleveland made a financing proposal for the renovation of their current lakefront stadium on Thursday.
The city proposed $461 million in municipal funds for the project and said that money would come “without any impact to city services.” Admission and sin taxes and existing stadium reserves would make up $367 million of that money and the rest would come from proceeds raised from turning a pair of garages over to the exclusive use of the stadium on game and event days. The proposal notes that any county or state funds would come in addition to those provided by the city.
“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,” Cleveland Mayor Justin M. Bibb said in a statement.
The other option at the moment would be a domed stadium in Brook Park. General Manager Andrew Berry said recently that he prefers the dome option, but added “any solution is a good solution.”
The Browns said in a statement on Wednesday that they will be “following up with the City of Cleveland to better understand the details while we are still reviewing it” and that they 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.”