US EditionReport: Ohio Lawmakers Opt for Using $600M in Unclaimed Funds for Proposed Cleveland Browns Domed Stadium in Brook Park
BROOK PARK, OHIO, JUN 24 – Ohio lawmakers allocated $600 million from unclaimed property funds to finance a $2.4 billion domed stadium for the Browns, aiming to boost economic development without raising taxes.
- On June 30, Ohio Governor Mike DeWine signed a budget allocating $600 million from unclaimed property funds for a new Browns stadium in Brook Park.
- Following debate, Ohio lawmakers rejected bond financing and sports betting tax hikes, then approved a $1.7 billion withdrawal from unclaimed funds for stadium funding.
- Ohio’s $4.8 billion unclaimed property fund will finance $600 million of the Browns stadium, repaid over 16 years through revenue, with the remaining project costs covered by private investment.
- Cleveland Mayor Justin Bibb opposes the stadium move, Democrats plan a lawsuit claiming unclaimed funds are private property, challenging the funding plan.
- In the long term, the new Huntington Bank Field aims to host year-round events, anchor regional development, and boost Northeast Ohio's economy, as lawmakers describe it as an investment in growth.
22 Articles
22 Articles
Cleveland law firm files suit to prevent Browns from using unclaimed state funds to build domed stadium in Brook Park
The Dann Law Firm has filed a lawsuit to stop the use of $600 million in unclaimed Ohio funds for the Cleveland Browns' proposed Broon Park domed stadium.
The News-Herald
The Morning JournalBrowns’ domed stadium proposal in Brook Park gets boost from state budget
The Browns proposed move to a new domed stadium in Brook Park took one step closer to being a done deal late on June 30 when Ohio governor Mike DeWine signed a state budget that includes $600 million from unclaimed property funds to help stadium construction funds. The Browns lease on their current home on the lakefront, Huntington Bank Field, runs through 2028. The new stadium would be ready by August, 2029, provided there are no glitches. It w…
Democratic former Ohio lawmakers threaten lawsuit over Cleveland Browns stadium funding plan
Attorney and Democratic former state Rep. Jeff Crossman, speaking, alongside former Democratic Attorney General Marc Dann. (Photo by Nick Evans, Ohio Capital Journal.)A pair of former Democratic state lawmakers warned the General Assembly not to approve a controversial plan to pay for a new Cleveland Browns stadium and other sports facilities in the future. State lawmakers went ahead anyway. The state budget, approved Wednesday afternoon, includ…
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