Cleveland Proposes $461M Funding Plan for Browns Stadium Renovations

The City of Cleveland has proposed giving the Cleveland Browns $461 million toward a $1 billion renovation of their current stadium.

Cleveland mayor Justin Bibb made that proposal public Thursday, per Dan DeRoos and Zach Keenan of Cleveland 19 News. The entire 30-year Browns lease term sheet proposal can be found via the City of Cleveland website.

"We are confident that this package that will ensure that the Browns remain on the lakefront with their hometown's full support," Mayor Bibb's letter reads.

"You are essential to the fabric of this community. We appreciate your consideration of our offer. We respectfully request a response by August 12, 2024."

Josh Alper of Pro Football Talk revealed the source of the $461 million that the city would provide.

"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."

There is another option on the table for a domed stadium in Brook Park, which Browns general manager Andrew Berry has gone on record saying he prefers. However, Berry also noted that "any solution is a good solution."

"I do want to emphasize any solution is a good solution," Berry said, per Myles Simmons of PFT. "We're happy whether it's a renovation, a build, you know, whatever, because it just means that our home environment is that much more of a home field advantage here in Cleveland."

The Browns' current stadium opened in 1999 in time for the NFL's return to Cleveland after the first iteration of the franchise moved to Baltimore to become the Ravens. The stadium underwent renovations in 2014 and 2015 at a $120 million price tag.