The Cleveland Browns’ owners are making progress towards a new $2.4 billion stadium in Brook Park, with hopes of securing $600 million in state funding. On a recent press call, Haslam Sports Group’s Dave Jenkins highlighted the inclusion of this funding in the Senate’s budget as a positive step. He noted that three versions of the proposed funding have emerged: an initial proposal from the governor, one from the House, and further discussions among state officials, all indicating a collective support for the project ahead of the June 30 budget deadline.
Critics have questioned the team’s reluctance to fully fund the stadium privately. Jenkins reiterated that a public-private partnership is essential for the project, clarifying that the $600 million the Browns would receive from the state does not detract from funding for other state needs. He emphasized that all branches of government seem willing to collaborate on enabling the project.
However, the Browns still require an additional $600 million in local funding to achieve a balanced financial partnership. The county has opted out due to the team’s preference for Brook Park, meaning the Browns need to seek this funding from different sources. Jenkins expressed optimism that the state support would materialize, trusting that government officials will work collaboratively to finalize funding solutions.
Much remains to be done before construction can commence, with the initial $1.2 billion in public funding being just a part of the financing challenge. The Browns believe they are on track to secure half of that needed funding.
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