CLEVELAND — The City of Cleveland and the Cleveland Browns have made amends after an ongoing fight over the proposed Browns stadium in Brook Park.
On Monday, Cleveland Mayor Justin Bibb and Browns owners Jimmy and Dee Haslam held a joint press conference at City Hall where they announced that the Haslam Sports Group would contribute $100 million to the city for lakefront development.
Watch the full press conference:
Bibb called it "one of the most significant settlements in the city's history."
HSG has agreed to give the city an upfront payment of $20 million on Dec. 1, and starting on Jan. 1, 2029, the group has agreed to pay the city $5 million until 2033, totaling $25 million over five years.
Additionally, HSG agreed to demolish the lakefront stadium and prepare the area for development once the team's contract ends.
"This settlement is more than just a settlement. It's a statement about the promise and the future of our great city and our great region," Bibb said.
“When we embarked on the journey to Brook Park, or really just to build a new stadium or enhance our current stadium, we said we had two goals in mind: one was to take care of our fans, and the second was to do what is best for Northeast Ohio,” Haslam said.
Once the contract ends, HSG will invest $2 million per year over the next 20 years for mutually agreed projects to benefit the community, Bibb said.
All of which will total the $100 million that the Haslams have agreed to pay.
With this settlement, all lawsuits will be dismissed, and both parties will support lakefront development and the modernization of Cleveland Hopkins Airport.
“This $100 million investment continues our lakefront momentum and economic resurgence,” 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. Cleveland's time is now. We are a city that leads the region, that’s open for business, and that knows how to get big things done.”
This all comes after a year-long battle between the two parties; the city and the team had been engaged in court over a possible violation of the team's current stadium lease, as well as whether the Browns are violating Ohio’s so-called Art Modell law – a law that gives communities more leverage when teams want to leave taxpayer-supported facilities.
